Bank of Montreal Can Lowers Stock Position in FirstService Corporation $FSV

Bank of Montreal Can lowered its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 10.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,221 shares of the financial services provider’s stock after selling 36,453 shares during the period. Bank of Montreal Can’s holdings in FirstService were worth $56,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geneva Capital Management LLC raised its holdings in shares of FirstService by 6.2% in the second quarter. Geneva Capital Management LLC now owns 384,665 shares of the financial services provider’s stock valued at $67,170,000 after purchasing an additional 22,372 shares during the last quarter. Atria Investments Inc raised its holdings in shares of FirstService by 61.7% in the second quarter. Atria Investments Inc now owns 3,981 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 1,519 shares during the last quarter. Motley Fool Wealth Management LLC purchased a new stake in shares of FirstService in the second quarter valued at about $5,164,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of FirstService in the second quarter valued at about $1,632,000. Finally, Bessemer Group Inc. raised its holdings in shares of FirstService by 15.7% in the second quarter. Bessemer Group Inc. now owns 192,351 shares of the financial services provider’s stock valued at $33,587,000 after purchasing an additional 26,146 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

FSV has been the subject of several analyst reports. Stifel Nicolaus lowered their target price on shares of FirstService from $230.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of FirstService in a research note on Wednesday, October 8th. BMO Capital Markets set a $209.00 target price on FirstService and gave the stock an “outperform” rating in a research note on Friday, October 24th. Zacks Research cut FirstService from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Finally, Raymond James Financial lowered their target price on FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, FirstService presently has an average rating of “Moderate Buy” and an average price target of $211.83.

FirstService Price Performance

FirstService stock opened at $154.94 on Thursday. FirstService Corporation has a one year low of $153.13 and a one year high of $209.66. The business has a fifty day moving average price of $186.95 and a 200-day moving average price of $183.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.73 and a quick ratio of 1.76. The firm has a market capitalization of $7.08 billion, a P/E ratio of 51.30 and a beta of 0.99.

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

FirstService Announces Dividend

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

About FirstService

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.