Fenimore Asset Management Inc Sells 216 Shares of FirstService Corporation $FSV

Fenimore Asset Management Inc reduced its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,361 shares of the financial services provider’s stock after selling 216 shares during the period. Fenimore Asset Management Inc owned approximately 0.22% of FirstService worth $17,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSV. Two Sigma Advisers LP bought a new position in FirstService in the 4th quarter worth about $201,000. Avanza Fonder AB boosted its position in shares of FirstService by 100.0% in the first quarter. Avanza Fonder AB now owns 5,000 shares of the financial services provider’s stock valued at $830,000 after acquiring an additional 2,500 shares during the period. Fifth Third Bancorp increased its holdings in FirstService by 23.0% during the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in FirstService by 11.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,452 shares of the financial services provider’s stock worth $407,000 after purchasing an additional 248 shares in the last quarter. Finally, Vista Finance LLC boosted its holdings in FirstService by 7.0% in the 1st quarter. Vista Finance LLC now owns 2,000 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 131 shares during the period. 69.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. Zacks Research lowered shares of FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Scotiabank raised their price target on FirstService from $210.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. TD Securities reiterated a “hold” rating on shares of FirstService in a report on Thursday, September 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of FirstService in a report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.75.

FirstService Trading Up 0.5%

NASDAQ FSV opened at $188.72 on Monday. The stock has a 50-day moving average of $198.22 and a 200-day moving average of $182.53. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $209.66. The firm has a market cap of $8.61 billion, a PE ratio of 60.49 and a beta of 0.99.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.26. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. As a group, sell-side analysts forecast that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 30th. FirstService’s dividend payout ratio (DPR) is 35.26%.

FirstService Company 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.