Dearborn Partners LLC Buys 2,169 Shares of FirstService Corporation (NASDAQ:FSV)

Dearborn Partners LLC raised its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 142.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,697 shares of the financial services provider’s stock after acquiring an additional 2,169 shares during the quarter. Dearborn Partners LLC’s holdings in FirstService were worth $614,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSV. TCTC Holdings LLC raised its holdings in FirstService by 155.2% during the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Spire Wealth Management raised its holdings in FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 186 shares during the last quarter. Natixis raised its holdings in FirstService by 5,511.1% during the 4th quarter. Natixis now owns 505 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 496 shares during the last quarter. State of Wyoming bought a new stake in FirstService during the 4th quarter worth about $101,000. Finally, Fifth Third Bancorp raised its holdings in FirstService by 23.0% during the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 144 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

FirstService Trading Up 0.5%

Shares of FirstService stock opened at $197.53 on Thursday. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $201.10. The stock has a market cap of $8.98 billion, a P/E ratio of 63.31 and a beta of 0.99. The company has a quick ratio of 1.94, a current ratio of 1.70 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $177.99 and its 200-day moving average is $174.98.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Monday, June 30th. FirstService’s dividend payout ratio (DPR) is presently 35.26%.

Analyst Ratings Changes

Several analysts have weighed in on FSV shares. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Scotiabank boosted their price objective on FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, TD Securities boosted their price objective on FirstService from $200.00 to $211.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.75.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.