Forsta AP Fonden Invests $810,000 in FirstService Corporation $FSV

Forsta AP Fonden purchased a new position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,200 shares of the financial services provider’s stock, valued at approximately $810,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FSV. Norges Bank bought a new position in shares of FirstService during the 4th quarter worth $85,597,000. Durable Capital Partners LP grew its stake in shares of FirstService by 12.9% during the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock worth $422,263,000 after acquiring an additional 253,155 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of FirstService by 79.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock worth $52,880,000 after acquiring an additional 141,152 shares during the period. William Blair Investment Management LLC grew its stake in shares of FirstService by 19.9% during the 4th quarter. William Blair Investment Management LLC now owns 596,249 shares of the financial services provider’s stock worth $92,735,000 after acquiring an additional 98,808 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of FirstService by 27.8% during the 3rd quarter. Bank of Montreal Can now owns 416,766 shares of the financial services provider’s stock worth $79,389,000 after acquiring an additional 90,545 shares during the period. Institutional investors own 69.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FSV shares. Weiss Ratings downgraded FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. TD upped their price target on FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Stifel Nicolaus lowered their price target on shares of FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, April 27th. BMO Capital Markets restated an “outperform” rating and issued a $202.00 price objective on shares of FirstService in a research report on Thursday, February 5th. Finally, Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $197.22.

FirstService Stock Performance

Shares of FSV opened at $137.27 on Thursday. The company has a market cap of $6.31 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 4.20 and a beta of 0.95. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. The stock has a 50-day moving average price of $138.46 and a 200-day moving average price of $148.61. FirstService Corporation has a 12-month low of $119.41 and a 12-month high of $209.66.

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

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend 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%.

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.