Creative Planning Boosts Stake in FirstService Corporation $FSV

Creative Planning increased its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 26.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,019 shares of the financial services provider’s stock after buying an additional 2,322 shares during the quarter. Creative Planning’s holdings in FirstService were worth $1,924,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSV. Allianz Asset Management GmbH grew its position in shares of FirstService by 1.3% during the first quarter. Allianz Asset Management GmbH now owns 5,784 shares of the financial services provider’s stock worth $959,000 after acquiring an additional 76 shares during the last quarter. Avantax Advisory Services Inc. grew its position in FirstService by 28.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,264 shares of the financial services provider’s stock worth $1,039,000 after purchasing an additional 1,376 shares during the last quarter. Cetera Investment Advisers acquired a new position in FirstService in the first quarter valued at $278,000. LPL Financial LLC raised its holdings in shares of FirstService by 11.3% in the first quarter. LPL Financial LLC now owns 10,807 shares of the financial services provider’s stock valued at $1,793,000 after buying an additional 1,100 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of FirstService by 3.9% in the first quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider’s stock valued at $44,639,000 after buying an additional 10,087 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FSV shares. BMO Capital Markets set a $209.00 price target on FirstService and gave the company an “outperform” rating in a research report on Friday, October 24th. Raymond James Financial dropped their target price on FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Zacks Research downgraded FirstService from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. CIBC lowered their price objective on shares of FirstService from $225.00 to $216.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Finally, Scotiabank upgraded shares of FirstService from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the stock from $220.00 to $205.00 in a research report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.83.

FirstService Trading Up 0.5%

Shares of FSV stock opened at $152.95 on Wednesday. The business’s fifty day moving average price is $173.11 and its 200 day moving average price is $181.58. The firm has a market capitalization of $6.99 billion, a PE ratio of 50.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.73 and a quick ratio of 1.76. FirstService Corporation has a 1-year low of $149.13 and a 1-year high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $1.76 EPS for the quarter, hitting the consensus estimate of $1.76. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. As a group, sell-side analysts forecast that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were issued a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.7%. FirstService’s dividend payout ratio (DPR) is 36.42%.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.