Swiss National Bank Acquires 8,700 Shares of FirstService Corporation $FSV

Swiss National Bank increased its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,300 shares of the financial services provider’s stock after purchasing an additional 8,700 shares during the period. Swiss National Bank owned approximately 0.27% of FirstService worth $21,607,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC boosted its holdings in shares of 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 buying an additional 104 shares in the last quarter. Strs Ohio acquired a new position in shares of FirstService during the 1st quarter valued at $38,000. SVB Wealth LLC acquired a new position in shares of FirstService during the 1st quarter valued at $90,000. State of Wyoming boosted its stake in FirstService by 11.1% during the first quarter. State of Wyoming now owns 621 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 62 shares in the last quarter. Finally, Hardy Reed LLC acquired a new stake in FirstService in the second quarter worth $216,000. 69.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FSV shares. Scotiabank raised shares of FirstService from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the stock from $220.00 to $205.00 in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a research report on Wednesday, November 19th. Raymond James Financial lowered their price objective on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Stifel Nicolaus dropped their price objective on shares of FirstService from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Finally, Wall Street Zen downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, FirstService currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.83.

FirstService Stock Performance

NASDAQ FSV opened at $152.95 on Wednesday. The company has a fifty day moving average price of $173.11 and a 200-day moving average price of $181.58. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 50.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.73 and a quick ratio of 1.76. FirstService Corporation has a 1 year low of $149.13 and a 1 year high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.76. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the firm earned $1.63 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts predict that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.7%. FirstService’s dividend payout ratio (DPR) is currently 36.42%.

FirstService 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.