Y Intercept Hong Kong Ltd Buys 3,602 Shares of FirstService Corporation $FSV

Y Intercept Hong Kong Ltd raised its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 146.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,068 shares of the financial services provider’s stock after purchasing an additional 3,602 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in FirstService were worth $843,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. M&T Bank Corp bought a new position in FirstService in the fourth quarter valued at $6,120,000. Captrust Financial Advisors increased its position in FirstService by 3.0% during the third quarter. Captrust Financial Advisors now owns 247,931 shares of the financial services provider’s stock worth $47,228,000 after buying an additional 7,136 shares during the last quarter. UBS Group AG increased its holdings in shares of FirstService by 40.5% during the 4th quarter. UBS Group AG now owns 174,467 shares of the financial services provider’s stock worth $27,135,000 after acquiring an additional 50,263 shares during the last quarter. Copeland Capital Management LLC raised its position in shares of FirstService by 3.3% in the fourth quarter. Copeland Capital Management LLC now owns 346,042 shares of the financial services provider’s stock valued at $53,820,000 after purchasing an additional 10,970 shares during the period. Finally, Jacobson & Schmitt Advisors LLC raised its holdings in FirstService by 52.4% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 144,994 shares of the financial services provider’s stock valued at $22,551,000 after acquiring an additional 49,829 shares during the period. 69.35% of the stock is owned by institutional investors.

FirstService Stock Performance

Shares of FSV stock opened at $143.44 on Monday. The firm has a market capitalization of $6.59 billion, a P/E ratio of 40.52, a P/E/G ratio of 4.35 and a beta of 0.94. FirstService Corporation has a twelve month low of $119.41 and a twelve month high of $209.66. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74. The stock’s fifty day simple moving average is $137.01 and its 200 day simple moving average is $146.17.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The business 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, sell-side analysts predict that FirstService Corporation will post 5.55 EPS for the current fiscal year.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th were given a $0.305 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.9%. FirstService’s payout ratio is 34.46%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. TD Securities set a $204.00 price objective on shares of FirstService in a research note on Friday, April 24th. Loop Capital started coverage on shares of FirstService in a research report on Monday, May 4th. They set a “hold” rating and a $140.00 price objective for the company. Scotiabank cut their target price on FirstService from $190.00 to $175.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Finally, Weiss Ratings downgraded FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Eight equities research 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 currently has an average rating of “Moderate Buy” and an average target price of $195.56.

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.