FirstService Corporation $FSV Shares Purchased by Amundi

Amundi grew its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 24.1% during the 2nd quarter, Holdings Channel reports. The fund owned 89,498 shares of the financial services provider’s stock after acquiring an additional 17,364 shares during the period. Amundi’s holdings in FirstService were worth $15,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of FirstService by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 292 shares during the last quarter. Westerkirk Capital Inc. acquired a new stake in shares of FirstService in the second quarter valued at about $419,000. Quantbot Technologies LP raised its stake in shares of FirstService by 6.6% during the second quarter. Quantbot Technologies LP now owns 15,375 shares of the financial services provider’s stock valued at $2,685,000 after purchasing an additional 953 shares during the period. New York State Common Retirement Fund increased its stake in FirstService by 0.6% during the 2nd quarter. New York State Common Retirement Fund now owns 24,183 shares of the financial services provider’s stock worth $4,223,000 after buying an additional 150 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of FirstService by 100.8% during the second quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock worth $257,634,000 after acquiring an additional 740,583 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

FSV has been the topic of several recent analyst reports. Zacks Research cut shares of FirstService from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a research report on Monday. Raymond James Financial cut their target price on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. CIBC decreased their target price on FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Finally, BMO Capital Markets set a $209.00 price target on FirstService and gave the stock an “outperform” rating in a research report on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.83.

FirstService Trading Down 0.1%

FirstService stock opened at $149.71 on Thursday. FirstService Corporation has a 52-week low of $147.23 and a 52-week high of $209.66. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 49.57, a PEG ratio of 2.83 and a beta of 1.05. The firm has a 50-day moving average price of $164.16 and a two-hundred day moving average price of $179.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.76. FirstService had a return on equity of 17.98% and a net margin of 2.53%.The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts expect that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.10 annualized dividend and a yield of 0.7%. FirstService’s payout ratio is presently 36.42%.

FirstService 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.