TD Asset Management Inc Buys 8,691 Shares of FirstService Corporation $FSV

TD Asset Management Inc increased its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,971 shares of the financial services provider’s stock after buying an additional 8,691 shares during the quarter. TD Asset Management Inc owned 0.63% of FirstService worth $54,876,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Parr Mcknight Wealth Management Group LLC boosted its holdings in FirstService by 1.1% during the third quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock worth $1,444,000 after purchasing an additional 81 shares during the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in shares of FirstService in the 3rd quarter worth about $207,000. Citigroup Inc. grew its position in FirstService by 527.6% during the third quarter. Citigroup Inc. now owns 37,663 shares of the financial services provider’s stock valued at $7,177,000 after buying an additional 31,662 shares during the period. Syon Capital LLC purchased a new stake in FirstService during the third quarter worth about $215,000. Finally, Accretive Wealth Partners LLC raised its position in FirstService by 2.1% in the third quarter. Accretive Wealth Partners LLC now owns 7,026 shares of the financial services provider’s stock worth $1,338,000 after acquiring an additional 143 shares during the period. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FSV has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a research report on Monday, December 22nd. TD Securities reiterated a “buy” rating and set a $217.00 target price on shares of FirstService in a research report on Thursday, February 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $202.00 target price on shares of FirstService in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $211.67.

FirstService Trading Up 2.2%

Shares of FirstService stock opened at $158.31 on Friday. The company has a 50 day simple moving average of $157.19 and a two-hundred day simple moving average of $170.55. The firm has a market cap of $7.24 billion, a PE ratio of 50.10, a PEG ratio of 4.16 and a beta of 1.06. FirstService Corporation has a 1 year low of $147.23 and a 1 year high of $209.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.77.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. FirstService had a net margin of 2.64% and a return on equity of 18.69%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company posted $1.34 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 0.8%. This is an increase from FirstService’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, March 31st. FirstService’s dividend payout ratio is presently 34.81%.

FirstService Profile

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.