Louisbourg Investments Inc. Buys Shares of 24,640 FirstService Corporation $FSV

Louisbourg Investments Inc. bought a new position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,640 shares of the financial services provider’s stock, valued at approximately $3,837,000.

A number of other large investors also recently modified their holdings of FSV. Durable Capital Partners LP boosted its holdings in shares of FirstService by 12.9% during the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock valued at $422,263,000 after acquiring an additional 253,155 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of FirstService by 3.5% during the third quarter. Vanguard Group Inc. now owns 1,925,014 shares of the financial services provider’s stock worth $366,773,000 after purchasing an additional 65,926 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of FirstService by 5.1% in the third quarter. Mackenzie Financial Corp now owns 1,551,175 shares of the financial services provider’s stock valued at $295,481,000 after buying an additional 75,712 shares during the period. Orbis Allan Gray Ltd raised its holdings in FirstService by 0.5% in the 2nd quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider’s stock valued at $248,636,000 after buying an additional 6,680 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in FirstService by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 600,155 shares of the financial services provider’s stock valued at $114,323,000 after buying an additional 13,264 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

NASDAQ:FSV opened at $139.72 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.73 and a current ratio of 1.73. FirstService Corporation has a fifty-two week low of $133.42 and a fifty-two week high of $209.66. The company has a 50 day simple moving average of $150.12 and a two-hundred day simple moving average of $160.55. The company has a market capitalization of $6.42 billion, a PE ratio of 44.22, a P/E/G ratio of 3.71 and a beta of 1.09.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company earned $1.34 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current 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 given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. 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 payout ratio is currently 38.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FSV shares. BMO Capital Markets reissued an “outperform” rating and set a $202.00 target price on shares of FirstService in a report on Thursday, February 5th. TD Securities reaffirmed a “buy” rating and set a $217.00 price target on shares of FirstService in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of FirstService in a report on Friday, March 27th. Finally, Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

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.