FirstService Corporation (FSV) Shares Sold by RK Capital Management LLC
RK Capital Management LLC lessened its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,400 shares of the financial services provider’s stock after selling 3,800 shares during the period. RK Capital Management LLC owned approximately 0.32% of FirstService Corporation worth $7,447,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of FSV. Blair William & Co. IL grew its position in shares of FirstService Corporation 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 acquiring an additional 49 shares during the period. Royce & Associates LP grew its position in shares of FirstService Corporation by 0.5% during the 2nd quarter. Royce & Associates LP now owns 230,400 shares of the financial services provider’s stock valued at $14,741,000 after acquiring an additional 1,200 shares during the period. Karp Capital Management Corp bought a new stake in shares of FirstService Corporation during the 1st quarter valued at $1,432,000. Parametric Portfolio Associates LLC grew its position in shares of FirstService Corporation by 10.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 7,853 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 733 shares during the period. Finally, Morgan Stanley grew its position in shares of FirstService Corporation by 4.0% during the 1st quarter. Morgan Stanley now owns 324,474 shares of the financial services provider’s stock valued at $19,566,000 after acquiring an additional 12,445 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.
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FSV has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of FirstService Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. William Blair downgraded shares of FirstService Corporation from an “outperform” rating to a “market perform” rating in a research report on Wednesday. BidaskClub downgraded shares of FirstService Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. TheStreet raised shares of FirstService Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada boosted their price objective on shares of FirstService Corporation from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. FirstService Corporation currently has an average rating of “Buy” and a consensus price target of $67.00.
Shares of FirstService Corporation (NASDAQ:FSV) traded down 1.65% during midday trading on Friday, hitting $65.42. 41,280 shares of the stock were exchanged. The firm’s 50-day moving average is $67.07 and its 200-day moving average is $62.67. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 52.34 and a beta of 0.90. FirstService Corporation has a 12 month low of $39.05 and a 12 month high of $70.83.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.11. The firm had revenue of $434.90 million for the quarter, compared to analyst estimates of $421.35 million. FirstService Corporation had a net margin of 2.84% and a return on equity of 24.64%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities research analysts predict that FirstService Corporation will post $1.96 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 29th will be paid a $0.1225 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 0.75%. FirstService Corporation’s payout ratio is currently 39.20%.
FirstService Corporation announced that its board has authorized a share buyback program on Thursday, August 17th that allows the company to repurchase 3,100,000 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
FirstService Corporation 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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