Renaissance Technologies LLC increased its stake in shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 800,800 shares of the financial services provider’s stock after purchasing an additional 7,200 shares during the period. Renaissance Technologies LLC owned approximately 2.23% of FirstService worth $55,992,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in shares of FirstService by 40.1% during the third quarter. Legal & General Group Plc now owns 4,887 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 1,400 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of FirstService by 2.3% during the third quarter. CIBC Asset Management Inc now owns 67,829 shares of the financial services provider’s stock valued at $4,445,000 after purchasing an additional 1,503 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of FirstService by 1.5% during the third quarter. Great West Life Assurance Co. Can now owns 171,775 shares of the financial services provider’s stock valued at $11,270,000 after purchasing an additional 2,488 shares during the last quarter. Northern Trust Corp raised its holdings in shares of FirstService by 13.7% during the second quarter. Northern Trust Corp now owns 20,905 shares of the financial services provider’s stock valued at $1,338,000 after purchasing an additional 2,525 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of FirstService by 1.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 224,686 shares of the financial services provider’s stock valued at $15,710,000 after purchasing an additional 2,872 shares during the last quarter. 63.78% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. BidaskClub raised shares of FirstService from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Zacks Investment Research raised shares of FirstService from a “strong sell” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Tuesday, February 13th. Royal Bank of Canada boosted their price objective on shares of FirstService from $75.00 to $78.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Finally, William Blair reaffirmed a “market perform” rating on shares of FirstService in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $69.20.
FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. FirstService had a net margin of 3.11% and a return on equity of 29.64%. The business had revenue of $438.10 million during the quarter, compared to analysts’ expectations of $416.13 million. During the same period in the prior year, the company earned $0.41 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. equities research analysts predict that FirstService Corp will post 2.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.135 per share. This is a boost from FirstService’s previous quarterly dividend of $0.12. This represents a $0.54 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, March 28th. FirstService’s dividend payout ratio is currently 33.79%.
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Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.
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