Geode Capital Management LLC Purchases 43,695 Shares of FirstService Corporation $FSV

Geode Capital Management LLC lifted its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 529,854 shares of the financial services provider’s stock after acquiring an additional 43,695 shares during the quarter. Geode Capital Management LLC owned approximately 1.16% of FirstService worth $87,275,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FSV. JPL Wealth Management LLC bought a new position in shares of FirstService during the 3rd quarter valued at approximately $26,000. Geneos Wealth Management Inc. grew its stake in shares of FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 79 shares during the period. Strs Ohio bought a new position in shares of FirstService during the 1st quarter valued at approximately $38,000. EverSource Wealth Advisors LLC grew its stake in shares of FirstService by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 292 shares during the period. Finally, Sagard Holdings Management Inc. bought a new position in shares of FirstService during the 3rd quarter valued at approximately $79,000. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

FSV stock opened at $140.68 on Monday. FirstService Corporation has a 1-year low of $119.41 and a 1-year high of $209.66. 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 company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 39.74, a PEG ratio of 4.27 and a beta of 0.95. The business has a 50 day simple moving average of $138.59 and a two-hundred day simple moving average of $148.42.

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

FirstService Announces Dividend

The company 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. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. FirstService’s dividend payout ratio is currently 34.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings downgraded FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Loop Capital initiated coverage on FirstService in a report on Monday, May 4th. They set a “hold” rating and a $140.00 price target on the stock. TD Securities set a $204.00 price target on FirstService in a research note on Friday, April 24th. Finally, TD Cowen restated a “buy” rating and issued a $204.00 price target on shares of FirstService in a research note on Wednesday, June 3rd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.