FirstService Corporation $FSV Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC grew its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 22.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 246,088 shares of the financial services provider’s stock after acquiring an additional 44,996 shares during the period. Clearbridge Investments LLC owned about 0.54% of FirstService worth $38,274,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FSV. JPL Wealth Management LLC acquired a new stake in shares of FirstService in the 3rd quarter valued at about $26,000. Geneos Wealth Management Inc. raised its stake in shares of FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares in the last quarter. Strs Ohio acquired a new stake in shares of FirstService in the 1st quarter valued at about $38,000. EverSource Wealth Advisors LLC raised its stake in shares of FirstService by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 292 shares in the last quarter. Finally, Sagard Holdings Management Inc. acquired a new stake in shares of FirstService in the 3rd quarter valued at about $79,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Price Performance

FSV opened at $143.01 on Wednesday. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 40.40, a price-to-earnings-growth ratio of 4.20 and a beta of 0.95. FirstService Corporation has a fifty-two week low of $119.41 and a fifty-two week high of $209.66. The company’s 50-day moving average price is $138.77 and its 200 day moving average price is $148.27. 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 posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. FirstService’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. TD Securities set a $204.00 target price on shares of FirstService in a research note on Friday, April 24th. Stifel Nicolaus cut their target price 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. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, Loop Capital assumed coverage on shares of FirstService in a research note on Monday, May 4th. They issued a “hold” rating and a $140.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $197.22.

About FirstService

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.