Picton Mahoney Asset Management Boosts Holdings in FirstService Corporation $FSV

Picton Mahoney Asset Management raised its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 331,730 shares of the financial services provider’s stock after acquiring an additional 9,359 shares during the period. FirstService makes up about 0.6% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 28th largest position. Picton Mahoney Asset Management owned 0.73% of FirstService worth $63,192,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FSV. Geneos Wealth Management Inc. boosted its stake in shares of FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares during the period. Strs Ohio purchased a new position in shares of FirstService during the first quarter valued at approximately $38,000. EverSource Wealth Advisors LLC boosted its position in shares of FirstService by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after buying an additional 292 shares during the period. Spire Wealth Management grew its stake in shares of FirstService by 300.0% during the third quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock valued at $76,000 after buying an additional 300 shares during the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of FirstService by 70.6% in the third quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider’s stock worth $83,000 after buying an additional 180 shares during the period. Institutional investors own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FSV. BMO Capital Markets restated an “outperform” rating and set a $202.00 price objective on shares of FirstService in a report on Thursday, February 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a research note on Monday, December 22nd. Finally, TD Securities restated a “buy” rating and issued a $217.00 price target on shares of FirstService in a report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, FirstService has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

FirstService Price Performance

Shares of FSV stock opened at $153.92 on Wednesday. FirstService Corporation has a twelve month low of $147.23 and a twelve month high of $209.66. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $157.27 and a two-hundred day simple moving average of $169.28. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 48.71, a P/E/G ratio of 4.17 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last released 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 return on equity of 18.69% and a net margin of 2.64%.The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the company posted $1.34 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts predict that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a boost from FirstService’s previous quarterly dividend of $0.28. FirstService’s dividend payout ratio is currently 34.81%.

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.