Summit Creek Advisors LLC Trims Stock Holdings in FirstService Corporation $FSV

Summit Creek Advisors LLC decreased its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,202 shares of the financial services provider’s stock after selling 4,817 shares during the period. FirstService accounts for about 2.3% of Summit Creek Advisors LLC’s holdings, making the stock its 18th biggest position. Summit Creek Advisors LLC owned 0.21% of FirstService worth $14,651,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Truist Financial Corp increased its stake in shares of FirstService by 0.9% in the fourth quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 77 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of FirstService by 5.6% in the second quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 77 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares in the last quarter. Parr Mcknight Wealth Management Group LLC increased its stake in shares of FirstService by 1.1% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock worth $1,444,000 after purchasing an additional 81 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC increased its stake in shares of FirstService by 4.2% in the third quarter. NorthCrest Asset Manangement LLC now owns 2,209 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FSV. Scotiabank reduced their target price on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a research note on Friday, April 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of FirstService in a research note on Friday, March 27th. BMO Capital Markets reiterated an “outperform” rating and issued a $202.00 target price on shares of FirstService in a research note on Thursday, February 5th. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Loop Capital began coverage on shares of FirstService in a research report on Monday, May 4th. They issued a “hold” rating and a $140.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $196.89.

FirstService Trading Up 3.5%

Shares of FirstService stock opened at $131.62 on Thursday. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $209.66. The firm has a market cap of $6.05 billion, a PE ratio of 37.18, a PEG ratio of 3.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.66. The company has a 50 day simple moving average of $139.78 and a two-hundred day simple moving average of $150.06.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business posted $0.92 earnings per share. FirstService’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that FirstService Corporation will post 5.54 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.305 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.22 annualized dividend and a yield of 0.9%. FirstService’s payout ratio is presently 34.46%.

About FirstService

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.