UBS Asset Management Americas Inc. Increases Stake in FirstService Corp (NASDAQ:FSV)

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UBS Asset Management Americas Inc. increased its holdings in FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 15.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,670 shares of the financial services provider’s stock after purchasing an additional 2,300 shares during the period. UBS Asset Management Americas Inc.’s holdings in FirstService were worth $1,704,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. BB&T Securities LLC increased its stake in shares of FirstService by 0.6% in the 2nd quarter. BB&T Securities LLC now owns 23,454 shares of the financial services provider’s stock worth $2,249,000 after acquiring an additional 146 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of FirstService by 1.9% in the 2nd quarter. Sterling Capital Management LLC now owns 8,577 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 163 shares in the last quarter. US Bancorp DE increased its stake in shares of FirstService by 13.7% in the 2nd quarter. US Bancorp DE now owns 2,197 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 265 shares in the last quarter. Citadel Advisors LLC increased its stake in shares of FirstService by 9.5% in the 2nd quarter. Citadel Advisors LLC now owns 3,698 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 320 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of FirstService by 8.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,259 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 325 shares in the last quarter. 61.03% of the stock is owned by institutional investors.

Shares of FSV stock opened at $101.10 on Friday. FirstService Corp has a one year low of $64.87 and a one year high of $111.08. The company’s 50-day moving average is $101.99 and its 200 day moving average is $96.12. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 56.17 and a beta of 0.84. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.46 and a current ratio of 1.46.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.31. FirstService had a negative net margin of 11.58% and a positive return on equity of 28.17%. The company had revenue of $573.90 million for the quarter, compared to the consensus estimate of $550.77 million. During the same period in the prior year, the firm posted $0.86 EPS. FirstService’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts predict that FirstService Corp will post 2.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, September 27th. FirstService’s dividend payout ratio (DPR) is 33.33%.

FSV has been the subject of several research reports. TheStreet lowered shares of FirstService from a “b” rating to a “c” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price objective on shares of FirstService from $102.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. TD Securities initiated coverage on shares of FirstService in a research report on Wednesday, September 25th. They set a “hold” rating and a $110.00 price objective on the stock. Zacks Investment Research downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, ValuEngine downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, FirstService has a consensus rating of “Hold” and an average price target of $108.20.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.

Further Reading: What can cause a stock to outperform?

Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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