FirstService Corporation $FSV Stock: Conestoga Capital Advisors LLC Trims Holdings

Conestoga Capital Advisors LLC trimmed its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 38.1% in the third quarter, Holdings Channel.com reports. The fund owned 753,593 shares of the financial services provider’s stock after selling 463,404 shares during the period. FirstService makes up about 2.9% of Conestoga Capital Advisors LLC’s holdings, making the stock its 13th largest holding. Conestoga Capital Advisors LLC’s holdings in FirstService were worth $96,370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Hilltop National Bank increased its stake in FirstService by 4.1% in the 2nd quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 81 shares in the last quarter. Fifth Third Bancorp boosted its position in FirstService by 23.7% during the first quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 120 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in FirstService by 73.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 302 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 128 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in FirstService by 27.1% in the third quarter. Crossmark Global Holdings Inc. now owns 2,286 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 488 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its position in shares of FirstService by 29.7% in the first quarter. Diversify Wealth Management LLC now owns 2,429 shares of the financial services provider’s stock valued at $326,000 after buying an additional 556 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

FSV has been the subject of several research reports. TD Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of FirstService in a research note on Friday, July 24th. Stifel Nicolaus increased their price objective on shares of FirstService from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Weiss Ratings upgraded shares of FirstService from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 22nd. Canadian Imperial Bank of Commerce raised their target price on shares of FirstService from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Friday, October 23rd. Finally, Raymond James Financial restated an “outperform” rating and set a $190.00 target price on shares of FirstService in a research report on Friday, October 23rd. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $179.82.

FirstService Stock Up 4.3%

FSV opened at $155.25 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.56 and a debt-to-equity ratio of 1.66. The firm has a market cap of $6.78 billion, a P/E ratio of 47.33, a PEG ratio of 2.81 and a beta of 0.89. FirstService Corporation has a 52 week low of $119.41 and a 52 week high of $166.73. The business’s fifty day simple moving average is $136.19 and its 200 day simple moving average is $142.25.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. FirstService had a return on equity of 19.66% and a net margin of 2.59%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company posted $1.76 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that FirstService Corporation will post 5.62 EPS for the current fiscal year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.3050 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.8%. FirstService’s dividend payout ratio is currently 37.20%.

FirstService Company Profile

FirstService Corporation is a Canadian provider of property management and property services serving customers primarily in the United States and Canada. The company operates through two main businesses: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium and homeowners’ associations, cooperatives, and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support, and related operational services.

FirstService Brands operates and supports a network of property-service businesses, including companies involved in property restoration, painting, flooring, window treatments, and other residential and commercial services.