Montrusco Bolton Investments Inc. Buys 72,665 Shares of FirstService Corporation $FSV

Montrusco Bolton Investments Inc. increased its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 38.1% during the first quarter, Holdings Channel.com reports. The fund owned 263,488 shares of the financial services provider’s stock after buying an additional 72,665 shares during the period. Montrusco Bolton Investments Inc.’s holdings in FirstService were worth $36,538,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FSV. JPL Wealth Management LLC acquired a new stake in FirstService during the 3rd quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of FirstService by 88.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 81 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of FirstService in the 4th quarter valued at $34,000. Geneos Wealth Management Inc. boosted its stake in shares of FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of FirstService in the 1st quarter valued at $38,000. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

Shares of FSV stock opened at $145.74 on Friday. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 41.17, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66. FirstService Corporation has a 52 week low of $119.41 and a 52 week high of $209.66. The firm’s 50-day simple moving average is $137.05 and its two-hundred day simple moving average is $146.61.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm earned $0.92 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be paid a $0.305 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.22 annualized dividend and a yield of 0.8%. FirstService’s dividend payout ratio is presently 34.46%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FSV shares. TD lifted their target price on shares of FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. TD Cowen reaffirmed a “buy” rating and set a $204.00 price target on shares of FirstService in a research report on Wednesday, June 3rd. Scotiabank decreased their price target on FirstService from $190.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday. Loop Capital began coverage on FirstService in a research report on Monday, May 4th. They issued a “hold” rating and a $140.00 price objective for the company. Finally, Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.56.

FirstService Company 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.