Toronto Dominion Bank Buys 27,871 Shares of FirstService Co. (NASDAQ:FSV)

Toronto Dominion Bank lifted its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 68.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,856 shares of the financial services provider’s stock after purchasing an additional 27,871 shares during the period. Toronto Dominion Bank owned 0.15% of FirstService worth $11,416,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FSV. Benjamin F. Edwards & Company Inc. acquired a new stake in FirstService during the 4th quarter worth $39,000. Spire Wealth Management acquired a new stake in FirstService during the 4th quarter worth $40,000. Accent Capital Management LLC acquired a new stake in FirstService during the 4th quarter worth $40,000. Gulf International Bank UK Ltd raised its stake in FirstService by 25.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after buying an additional 75 shares during the period. Finally, Security National Bank acquired a new stake in FirstService during the 4th quarter worth $90,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Up 0.7 %

Shares of FSV traded up $1.26 during midday trading on Friday, hitting $175.63. The stock had a trading volume of 104,872 shares, compared to its average volume of 86,246. The company has a 50 day simple moving average of $153.39 and a two-hundred day simple moving average of $158.22. FirstService Co. has a twelve month low of $134.77 and a twelve month high of $177.46. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 86.96 and a beta of 1.05. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.00 and a quick ratio of 2.00.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. FirstService had a net margin of 2.02% and a return on equity of 16.42%. On average, analysts anticipate that FirstService Co. will post 4.32 EPS for the current year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 28th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, June 28th. FirstService’s dividend payout ratio is currently 49.51%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FSV. BMO Capital Markets raised their price objective on FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Royal Bank of Canada lifted their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Scotiabank lifted their price target on FirstService from $170.00 to $175.00 and gave the company a “sector perform” rating in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.60.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers 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.