Cibc World Market Inc. Acquires 53,354 Shares of FirstService Corporation $FSV

Cibc World Market Inc. grew its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 11.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 507,243 shares of the financial services provider’s stock after acquiring an additional 53,354 shares during the period. Cibc World Market Inc. owned about 1.11% of FirstService worth $78,892,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in shares of FirstService during the third quarter valued at $26,000. Geneos Wealth Management Inc. raised its stake in shares of FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 79 shares during the last quarter. Strs Ohio bought a new position in shares of FirstService during the first quarter valued at $38,000. EverSource Wealth Advisors LLC raised its stake 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 valued at $64,000 after acquiring an additional 292 shares during the last quarter. Finally, Sagard Holdings Management Inc. bought a new position in shares of FirstService during the third quarter valued at $79,000. Institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

Shares of NASDAQ FSV opened at $137.27 on Thursday. FirstService Corporation has a twelve month low of $119.41 and a twelve month high of $209.66. The firm has a fifty day simple moving average of $138.46 and a 200 day simple moving average of $148.61. The company has a market capitalization of $6.31 billion, a PE ratio of 38.78, a P/E/G ratio of 4.20 and a beta of 0.95. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm earned $0.92 earnings per share. FirstService’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that FirstService Corporation will post 5.54 EPS for the current year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. FirstService’s dividend payout ratio (DPR) is currently 34.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FSV. Scotiabank dropped their price target on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a research note on Friday, April 24th. Weiss Ratings downgraded shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Stifel Nicolaus dropped their price target on shares of FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. TD raised their price target on shares of FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, TD Cowen reaffirmed a “buy” rating and set a $204.00 price target on shares of FirstService in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.22.

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.