Waratah Capital Advisors Ltd. Decreases Holdings in FirstService Corporation $FSV

Waratah Capital Advisors Ltd. decreased its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,740 shares of the financial services provider’s stock after selling 2,205 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in FirstService were worth $7,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in FirstService by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider’s stock valued at $301,051,000 after acquiring an additional 20,872 shares during the last quarter. Orbis Allan Gray Ltd grew its holdings in shares of FirstService by 18.8% during the 1st quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock valued at $235,183,000 after purchasing an additional 224,125 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in FirstService by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider’s stock worth $111,424,000 after purchasing an additional 15,334 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in FirstService by 27.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider’s stock worth $88,459,000 after purchasing an additional 115,898 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in FirstService by 1.1% during the second quarter. William Blair Investment Management LLC now owns 511,487 shares of the financial services provider’s stock valued at $89,316,000 after buying an additional 5,542 shares during the period. 69.35% of the stock is currently owned by institutional investors.

FirstService Price Performance

Shares of FirstService stock opened at $156.13 on Friday. The business has a 50 day moving average of $180.54 and a 200 day moving average of $182.63. FirstService Corporation has a 52 week low of $149.13 and a 52 week high of $209.66. The company has a market cap of $7.14 billion, a PE ratio of 51.70 and a beta of 0.99. The company has a quick ratio of 1.76, a current ratio of 1.73 and a debt-to-equity ratio of 0.90.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.76. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm earned $1.63 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were issued a $0.275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.10 annualized dividend and a yield of 0.7%. FirstService’s dividend payout ratio (DPR) is 36.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FSV shares. Zacks Research lowered FirstService from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Stifel Nicolaus dropped their price objective on FirstService from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Raymond James Financial cut their target price on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Scotiabank raised shares of FirstService from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the stock from $220.00 to $205.00 in a research note on Friday, October 24th. Finally, TD Securities dropped their price target on shares of FirstService from $213.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.