FirstService Corporation $FSV Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1,978.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,265 shares of the financial services provider’s stock after acquiring an additional 28,809 shares during the quarter. Daiwa Securities Group Inc. owned approximately 0.07% of FirstService worth $4,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FSV. Norges Bank acquired a new stake in FirstService during the fourth quarter worth about $85,597,000. Durable Capital Partners LP raised its stake in FirstService by 12.9% during the third 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. raised its stake in FirstService by 79.5% during the first 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. TD Asset Management Inc raised its stake in FirstService by 46.4% during the fourth quarter. TD Asset Management Inc now owns 421,603 shares of the financial services provider’s stock worth $65,645,000 after acquiring an additional 133,632 shares during the period. Finally, William Blair Investment Management LLC increased its stake in shares of FirstService by 19.9% in the fourth quarter. William Blair Investment Management LLC now owns 596,249 shares of the financial services provider’s stock valued at $92,735,000 after purchasing an additional 98,808 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Trading Down 1.6%

Shares of NASDAQ:FSV opened at $138.40 on Tuesday. The firm has a fifty day moving average of $138.60 and a two-hundred day moving average of $148.33. The firm has a market capitalization of $6.36 billion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 4.27 and a beta of 0.95. FirstService Corporation has a 12-month low of $119.41 and a 12-month high of $209.66. 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 issued its 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 company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. On average, equities analysts expect that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be paid a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. FirstService’s payout ratio is presently 34.46%.

Analyst Ratings Changes

FSV has been the topic of several analyst reports. 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. Stifel Nicolaus lowered their price objective on shares of FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Loop Capital began coverage on shares of FirstService in a research note on Monday, May 4th. They set a “hold” rating and a $140.00 price objective on the stock. TD Securities set a $204.00 target price on FirstService in a report on Friday, April 24th. 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, FirstService has a consensus rating of “Moderate Buy” and a consensus price target 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.