Cumberland Partners Ltd Has $3.82 Million Stock Position in FirstService Corporation $FSV

Cumberland Partners Ltd lowered its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 27.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 24,550 shares of the financial services provider’s stock after selling 9,230 shares during the quarter. Cumberland Partners Ltd’s holdings in FirstService were worth $3,822,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FSV. Durable Capital Partners LP raised its holdings in shares of 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 valued at $422,263,000 after purchasing an additional 253,155 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of FirstService by 79.5% during the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after purchasing an additional 141,152 shares during the period. Bank of Montreal Can raised its holdings in shares of FirstService by 27.8% during the third quarter. Bank of Montreal Can now owns 416,766 shares of the financial services provider’s stock valued at $79,389,000 after purchasing an additional 90,545 shares during the period. Montrusco Bolton Investments Inc. raised its holdings in shares of FirstService by 89.4% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 190,823 shares of the financial services provider’s stock valued at $29,715,000 after purchasing an additional 90,075 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of FirstService by 41.9% during the third quarter. Legal & General Group Plc now owns 261,165 shares of the financial services provider’s stock valued at $49,771,000 after purchasing an additional 77,179 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Trading Down 1.1%

NASDAQ:FSV opened at $131.66 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a 50-day moving average of $139.18 and a 200-day moving average of $149.75. The company has a market cap of $6.05 billion, a PE ratio of 37.19, a PEG ratio of 4.04 and a beta of 0.97. FirstService Corporation has a one year low of $119.41 and a one year high of $209.66.

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. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. As a group, equities research analysts expect that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Announces Dividend

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 dividend of $0.305 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. FirstService’s payout ratio is presently 34.46%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FSV. Stifel Nicolaus dropped their price objective 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. TD Cowen dropped their price objective on shares of FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets reiterated an “outperform” rating and set a $202.00 price objective on shares of FirstService in a report on Thursday, February 5th. Loop Capital began coverage on shares of FirstService in a report on Monday, May 4th. They set a “hold” rating and a $140.00 price objective on the stock. Finally, TD Securities set a $204.00 price objective on shares of FirstService in a report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.