Sumitomo Mitsui Trust Holdings Inc. Invests $15.51 Million in FirstService Co. (NASDAQ:FSV)


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Sumitomo Mitsui Trust Holdings Inc. purchased a new position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 113,700 shares of the financial services provider’s stock, valued at approximately $15,514,000. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of FirstService at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSV. Baskin Financial Services Inc. boosted its stake in FirstService by 2.9% during the third quarter. Baskin Financial Services Inc. now owns 239,961 shares of the financial services provider’s stock worth $31,646,000 after buying an additional 6,733 shares during the last quarter. Alberta Investment Management Corp boosted its stake in FirstService by 27.3% during the third quarter. Alberta Investment Management Corp now owns 130,345 shares of the financial services provider’s stock worth $17,147,000 after buying an additional 27,951 shares during the last quarter. Marco Investment Management LLC acquired a new position in FirstService during the third quarter worth $235,000. DekaBank Deutsche Girozentrale acquired a new position in FirstService during the third quarter worth $229,000. Finally, Toronto Dominion Bank boosted its stake in FirstService by 1.2% during the third quarter. Toronto Dominion Bank now owns 10,148 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 125 shares during the last quarter. 69.48% of the stock is currently owned by institutional investors.

FSV stock opened at $151.99 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $6.62 billion, a PE ratio of 92.12 and a beta of 0.92. FirstService Co. has a 12-month low of $57.38 and a 12-month high of $156.50. The business’s fifty day moving average price is $141.73 and its 200 day moving average price is $133.51.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Monday, February 8th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.21. The firm had revenue of $775.10 million for the quarter, compared to the consensus estimate of $715.46 million. FirstService had a return on equity of 13.48% and a net margin of 2.64%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Research analysts predict that FirstService Co. will post 1.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 7th. Investors of record on Wednesday, March 31st will be issued a $0.1825 dividend. This represents a $0.73 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, March 30th. This is an increase from FirstService’s previous quarterly dividend of $0.17. FirstService’s payout ratio is currently -10.14%.

A number of research firms have commented on FSV. Raymond James lifted their target price on FirstService from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 10th. TD Securities lifted their target price on FirstService from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 12th. Zacks Investment Research upgraded FirstService from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research report on Friday, February 12th. Royal Bank of Canada lifted their target price on FirstService from $135.00 to $160.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 10th. Finally, Scotiabank lifted their target price on FirstService from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Thursday, October 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $141.00.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management 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.

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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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