Fiera Capital Corp Reduces Holdings in FirstService Corporation $FSV

Fiera Capital Corp cut its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 6.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 251,044 shares of the financial services provider’s stock after selling 17,891 shares during the quarter. Fiera Capital Corp owned 0.55% of FirstService worth $43,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC boosted its position in FirstService by 155.2% in the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock valued at $28,000 after buying an additional 104 shares during the last quarter. Strs Ohio acquired a new position in shares of FirstService in the first quarter worth about $38,000. SVB Wealth LLC purchased a new position in FirstService in the first quarter valued at about $90,000. State of Wyoming grew its stake in FirstService by 11.1% during the 1st quarter. State of Wyoming now owns 621 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 62 shares in the last quarter. Finally, Hardy Reed LLC purchased a new stake in FirstService during the 2nd quarter worth approximately $216,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Trading Down 0.2%

NASDAQ FSV opened at $156.35 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.76 and a current ratio of 1.73. FirstService Corporation has a one year low of $149.13 and a one year high of $209.66. The company has a 50-day simple moving average of $182.37 and a 200-day simple moving average of $182.85. The firm has a market capitalization of $7.15 billion, a PE ratio of 51.77 and a beta of 0.99.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.76. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company posted $1.63 earnings per share. FirstService’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th were given a dividend of $0.275 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.7%. FirstService’s payout ratio is currently 36.42%.

Analyst Ratings Changes

Several equities analysts have recently commented on FSV shares. Weiss Ratings cut FirstService from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, November 7th. Scotiabank upgraded shares of FirstService from a “sector perform” rating to a “sector outperform” rating and reduced their price objective for the company from $220.00 to $205.00 in a research note on Friday, October 24th. CIBC dropped their target price on shares of FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. BMO Capital Markets set a $209.00 target price on shares of FirstService and gave the company an “outperform” rating in a research note on Friday, October 24th. Finally, Raymond James Financial decreased their price target on FirstService from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.83.

FirstService 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.