Skandinaviska Enskilda Banken AB publ Increases Position in FirstService Corporation $FSV

Skandinaviska Enskilda Banken AB publ increased its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 111.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,322 shares of the financial services provider’s stock after acquiring an additional 61,790 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.26% of FirstService worth $22,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings in shares of FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares during the period. Strs Ohio purchased a new stake in FirstService in the first quarter valued at approximately $38,000. EverSource Wealth Advisors LLC increased its holdings in FirstService by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock worth $64,000 after buying an additional 292 shares during the period. Spire Wealth Management raised its position in FirstService by 300.0% during the 3rd quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock worth $76,000 after buying an additional 300 shares during the last quarter. Finally, Trust Co. of Vermont lifted its stake in FirstService by 70.6% during the 3rd quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Down 0.2%

Shares of FSV opened at $154.30 on Wednesday. The firm has a market cap of $7.05 billion, a P/E ratio of 48.83, a PEG ratio of 4.15 and a beta of 1.06. FirstService Corporation has a 12 month low of $147.23 and a 12 month high of $209.66. The stock’s 50 day moving average is $156.94 and its two-hundred day moving average is $172.23. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company posted $1.34 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts predict that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. This is a positive change from FirstService’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, March 31st. FirstService’s dividend payout ratio (DPR) is 34.81%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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 note on Friday, October 24th. TD Securities reaffirmed a “buy” rating and set a $217.00 price target on shares of FirstService in a research report on Thursday, February 5th. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. 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. Finally, Canadian Imperial Bank of Commerce reduced their price target on FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.67.

FirstService Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.