Mackenzie Financial Corp Has $295.48 Million Stock Holdings in FirstService Corporation $FSV

Mackenzie Financial Corp grew its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,551,175 shares of the financial services provider’s stock after acquiring an additional 75,712 shares during the period. Mackenzie Financial Corp owned 3.39% of FirstService worth $295,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. grew its stake in FirstService by 2.3% in the third quarter. Franklin Resources Inc. now owns 600,155 shares of the financial services provider’s stock valued at $114,323,000 after purchasing an additional 13,264 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of FirstService during the 3rd quarter worth about $1,833,000. Bank of Montreal Can raised its stake in shares of FirstService by 27.8% during the 3rd quarter. Bank of Montreal Can now owns 416,766 shares of the financial services provider’s stock worth $79,389,000 after purchasing an additional 90,545 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of FirstService by 41.9% during the 3rd quarter. Legal & General Group Plc now owns 261,165 shares of the financial services provider’s stock valued at $49,771,000 after buying an additional 77,179 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of FirstService by 7.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 66,281 shares of the financial services provider’s stock valued at $12,627,000 after buying an additional 4,755 shares in the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Down 0.4%

Shares of FirstService stock opened at $149.52 on Wednesday. The company has a market capitalization of $6.84 billion, a P/E ratio of 47.32, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. FirstService Corporation has a 1 year low of $144.49 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 1.73. The business has a 50-day moving average of $156.60 and a two-hundred day moving average of $167.55.

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 for the quarter, topping the consensus estimate of $1.32 by $0.05. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. FirstService had a net margin of 2.64% and a return on equity of 18.69%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. As a group, equities analysts predict that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 31st will be issued a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. 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. FirstService’s payout ratio is currently 34.81%.

Wall Street Analysts Forecast Growth

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

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.