FirstService Co. (NASDAQ:FSV) Shares Purchased by Forsta AP Fonden

Posted by Defense World Staff on Apr 24th, 2023

Forsta AP Fonden grew its position in FirstService Co. (NASDAQ:FSV – Get Rating) (TSE:FSV) by 118.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400 shares of the financial services provider’s stock after purchasing an additional 1,300 shares during the period. Forsta AP Fonden’s holdings in FirstService were worth $294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FSV. Benjamin Edwards Inc. acquired a new position in shares of FirstService in the 3rd quarter valued at about $27,000. Wipfli Financial Advisors LLC acquired a new position in FirstService during the 3rd quarter worth approximately $40,000. First Horizon Advisors Inc. lifted its position in FirstService by 125.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 439 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 244 shares in the last quarter. Power Corp of Canada acquired a new position in FirstService during the 1st quarter worth approximately $60,000. Finally, Seaport Global Advisors LLC lifted its position in FirstService by 36.0% during the 3rd quarter. Seaport Global Advisors LLC now owns 767 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 203 shares in the last quarter. 72.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. TD Securities boosted their price target on FirstService from $140.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, February 8th. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research report on Wednesday, April 19th. Royal Bank of Canada assumed coverage on FirstService in a research report on Wednesday, April 19th. They set an “outperform” rating and a $165.00 price target on the stock. Raymond James lifted their price objective on FirstService from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, January 26th. Finally, TheStreet upgraded FirstService from a “c+” rating to a “b-” rating in a report on Tuesday, February 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and an average price target of $160.25.

FirstService Trading Up 0.6 %

NASDAQ:FSV opened at $146.09 on Monday. FirstService Co. has a 12-month low of $112.44 and a 12-month high of $148.70. The firm has a market capitalization of $6.51 billion, a P/E ratio of 53.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.66 and a quick ratio of 1.66. The business has a 50 day simple moving average of $138.97 and a 200 day simple moving average of $132.07.

FirstService (NASDAQ:FSV – Get Rating) (TSE:FSV) last released its quarterly earnings data on Tuesday, February 7th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. FirstService had a return on equity of 17.24% and a net margin of 3.23%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $982.34 million. Equities research analysts predict that FirstService Co. will post 4.5 EPS for the current year.

FirstService Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 11th. Investors of record on Friday, March 31st were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $0.90 dividend on an annualized basis and a yield of 0.62%. This is a positive change from FirstService’s previous quarterly dividend of $0.20. FirstService’s payout ratio is currently 32.97%.

About FirstService

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FirstService Corp. engages in the provision of property services. It operates through the FirstService Residential and FirstService Brands segments. The FirstService Residential segment offers residential property management services in North America. The FirstService Brands segment covers residential and commercial customers through both franchise systems, and company-owned operations.