FirstService Corporation $FSV Shares Acquired by Legal & General Group Plc

Legal & General Group Plc raised its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,074 shares of the financial services provider’s stock after buying an additional 3,909 shares during the period. Legal & General Group Plc owned about 0.58% of FirstService worth $41,277,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Durable Capital Partners LP grew its position in FirstService by 12.9% in 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 buying an additional 253,155 shares during the last quarter. Vanguard Group Inc. grew its position in FirstService by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock worth $304,000,000 after buying an additional 29,805 shares during the last quarter. Mackenzie Financial Corp grew its position in FirstService by 5.1% in the third quarter. Mackenzie Financial Corp now owns 1,551,175 shares of the financial services provider’s stock worth $295,481,000 after buying an additional 75,712 shares during the last quarter. Orbis Allan Gray Ltd grew its position in FirstService by 0.5% in the second quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider’s stock worth $248,636,000 after buying an additional 6,680 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in FirstService by 2.3% in the third quarter. Franklin Resources Inc. now owns 600,155 shares of the financial services provider’s stock worth $114,323,000 after buying an additional 13,264 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of FirstService stock opened at $134.20 on Friday. The stock has a market cap of $6.17 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 4.08 and a beta of 0.97. The business has a fifty day simple moving average of $138.47 and a 200-day simple moving average of $149.05. 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 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 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. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. FirstService had a return on equity of 17.91% and a net margin of 2.92%.FirstService’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. On average, sell-side analysts anticipate that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th will be given 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 dividend payout ratio (DPR) is 34.46%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FSV. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday. TD Securities set a $204.00 price target on shares of FirstService in a research report on Friday, April 24th. TD Cowen decreased their target price on shares of FirstService from $217.00 to $201.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Stifel Nicolaus dropped their target price on shares of FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Loop Capital started coverage on shares of FirstService in a report on Monday, May 4th. They set a “hold” rating and a $140.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, FirstService presently has a consensus rating of “Moderate Buy” and an average target price of $196.89.

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.