SVB Wealth LLC Has $222,000 Stake in FirstService Co. (NASDAQ:FSV)

Posted by Defense World Staff on May 29th, 2023

SVB Wealth LLC decreased its stake in shares of FirstService Co. (NASDAQ:FSV – Get Rating) (TSE:FSV) by 26.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,814 shares of the financial services provider’s stock after selling 655 shares during the quarter. SVB Wealth LLC’s holdings in FirstService were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of FSV. Citigroup Inc. grew its position in shares of FirstService by 658.5% during the 1st quarter. Citigroup Inc. now owns 2,723 shares of the financial services provider’s stock worth $395,000 after buying an additional 2,364 shares during the period. Natixis Advisors L.P. acquired a new stake in FirstService in the 1st quarter valued at $1,987,000. BlackRock Inc. grew its position in FirstService by 1.3% in the 1st quarter. BlackRock Inc. now owns 15,513 shares of the financial services provider’s stock valued at $2,248,000 after purchasing an additional 192 shares during the period. Raymond James Trust N.A. grew its position in FirstService by 45.0% in the 1st quarter. Raymond James Trust N.A. now owns 3,144 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 976 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in FirstService by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 139,654 shares of the financial services provider’s stock valued at $20,233,000 after purchasing an additional 3,286 shares during the period. Institutional investors and hedge funds own 72.57% of the company’s stock.

Analyst Upgrades and Downgrades

FSV has been the subject of several research reports. StockNews.com initiated coverage on shares of FirstService in a research report on Thursday, May 18th. They issued a “hold” rating for the company. TD Securities upgraded FirstService from a “hold” rating to a “buy” rating and raised their price objective for the company from $150.00 to $170.00 in a research note on Thursday, April 27th. BMO Capital Markets raised their price objective on FirstService from $142.00 to $161.00 and gave the company a “market perform” rating in a research note on Wednesday, February 8th. TheStreet cut FirstService from a “b-” rating to a “c+” rating in a research note on Tuesday, May 2nd. Finally, Royal Bank of Canada began coverage on FirstService in a research note on Wednesday, April 19th. They set an “outperform” rating and a $165.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $161.20.

FirstService Price Performance

Shares of NASDAQ:FSV opened at $144.74 on Monday. The stock has a market cap of $6.45 billion, a PE ratio of 52.25 and a beta of 1.08. FirstService Co. has a 1-year low of $112.44 and a 1-year high of $151.38. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $142.89 and its two-hundred day simple moving average is $136.17.

FirstService (NASDAQ:FSV – Get Rating) (TSE:FSV) last released its earnings results on Wednesday, April 26th. The financial services provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $960.39 million. FirstService had a return on equity of 18.72% and a net margin of 3.13%. As a group, analysts forecast that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 30th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, June 29th. FirstService’s payout ratio is 32.49%.

FirstService Profile

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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.