JPMorgan Chase & Co. Has $48.50 Million Holdings in FirstService Corporation $FSV

JPMorgan Chase & Co. decreased its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 254,586 shares of the financial services provider’s stock after selling 21,263 shares during the period. JPMorgan Chase & Co. owned about 0.56% of FirstService worth $48,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its position in 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 acquiring an additional 79 shares during the last quarter. Strs Ohio acquired a new position in FirstService in the first quarter worth $38,000. EverSource Wealth Advisors LLC grew its holdings 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 worth $64,000 after purchasing an additional 292 shares during the last quarter. Spire Wealth Management increased its stake in shares of FirstService by 300.0% in 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 in 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 valued at $83,000 after buying an additional 180 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

FirstService Trading Up 2.2%

Shares of NASDAQ FSV opened at $158.31 on Friday. FirstService Corporation has a fifty-two week low of $147.23 and a fifty-two week high of $209.66. The firm has a market capitalization of $7.24 billion, a P/E ratio of 50.10, a P/E/G ratio of 4.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.77. The company’s 50 day simple moving average is $157.19 and its 200 day simple moving average is $170.55.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. FirstService had a net margin of 2.64% and a return on equity of 18.69%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company posted $1.34 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts predict that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 0.8%. This is an increase from FirstService’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, March 31st. FirstService’s dividend payout ratio (DPR) is 34.81%.

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.