Sterling Capital Management LLC cut its position in shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 37.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,081 shares of the financial services provider’s stock after selling 4,803 shares during the period. Sterling Capital Management LLC’s holdings in FirstService were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in FSV. Blair William & Co. IL grew its stake in FirstService by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 19,379 shares of the financial services provider’s stock valued at $1,240,000 after purchasing an additional 49 shares during the last quarter. Legal & General Group Plc grew its stake in FirstService by 6.0% during the 2nd quarter. Legal & General Group Plc now owns 3,487 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 198 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in FirstService by 17.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,202 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 324 shares during the last quarter. Renaissance Group LLC grew its stake in FirstService by 6.9% during the 2nd quarter. Renaissance Group LLC now owns 7,697 shares of the financial services provider’s stock valued at $492,000 after purchasing an additional 498 shares during the last quarter. Finally, Jacobson & Schmitt Advisors LLC grew its stake in FirstService by 0.6% during the 2nd quarter. Jacobson & Schmitt Advisors LLC now owns 106,610 shares of the financial services provider’s stock valued at $6,821,000 after purchasing an additional 632 shares during the last quarter. 61.17% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently commented on FSV shares. Zacks Investment Research upgraded FirstService from a “hold” rating to a “strong-buy” rating and set a $80.00 target price on the stock in a research note on Tuesday, October 31st. Royal Bank of Canada downgraded FirstService from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $71.00 to $75.00 in a research report on Thursday, October 26th. BidaskClub downgraded FirstService from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Finally, Scotiabank downgraded FirstService from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. FirstService presently has a consensus rating of “Hold” and an average price target of $69.20.
FirstService Corp (FSV) traded down $0.13 during trading hours on Friday, hitting $68.01. The company had a trading volume of 27,264 shares, compared to its average volume of 25,513. FirstService Corp has a 12-month low of $47.60 and a 12-month high of $74.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $2,446.29, a PE ratio of 54.85 and a beta of 0.80.
FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.24. The company had revenue of $456.50 million during the quarter, compared to analyst estimates of $449.26 million. FirstService had a return on equity of 24.16% and a net margin of 2.74%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. sell-side analysts forecast that FirstService Corp will post 1.93 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 29th were given a dividend of $0.1225 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.49 annualized dividend and a dividend yield of 0.72%. FirstService’s dividend payout ratio is currently 39.52%.
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FirstService Company Profile
Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.
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