FirstService Corporation $FSV Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 46.4% in the 4th quarter, Holdings Channel reports. The firm owned 421,603 shares of the financial services provider’s stock after buying an additional 133,632 shares during the quarter. TD Asset Management Inc’s holdings in FirstService were worth $65,645,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC increased its holdings in FirstService by 5.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 77 shares in the last quarter. Truist Financial Corp increased its holdings in FirstService by 0.9% in the 4th quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock valued at $1,383,000 after purchasing an additional 77 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in 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. Parr Mcknight Wealth Management Group LLC increased its holdings in FirstService by 1.1% in the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 81 shares in the last quarter. Finally, Pathstone Holdings LLC increased its holdings in FirstService by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 17,021 shares of the financial services provider’s stock valued at $3,242,000 after purchasing an additional 92 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on FSV. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Stifel Nicolaus lowered their target price on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Loop Capital assumed coverage on FirstService in a research note on Monday, May 4th. They issued a “hold” rating and a $140.00 price target on the stock. TD Securities set a $204.00 price target on FirstService in a report on Friday, April 24th. Finally, TD Cowen reissued a “buy” rating and issued a $204.00 price target on shares of FirstService in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, FirstService currently has a consensus rating of “Moderate Buy” and an average price target of $197.22.

FirstService Trading Up 0.8%

Shares of FSV opened at $140.68 on Friday. The company has a market capitalization of $6.47 billion, a P/E ratio of 39.74, a P/E/G ratio of 4.24 and a beta of 0.95. FirstService Corporation has a one year low of $119.41 and a one year high of $209.66. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a 50-day moving average price of $138.59 and a 200 day moving average price of $148.44.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. FirstService had a return on equity of 17.91% and a net margin of 2.92%.FirstService’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 earnings per share. Sell-side analysts forecast that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. FirstService’s dividend payout ratio (DPR) is 34.46%.

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.