FirstService Corporation $FSV Stock: Schwartz Investment Counsel Inc. Reduces Stake

Schwartz Investment Counsel Inc. decreased its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 43.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,000 shares of the financial services provider’s stock after selling 6,845 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in FirstService were worth $1,151,000 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. Crossmark Global Holdings Inc. grew its position in shares of FirstService by 27.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,286 shares of the financial services provider’s stock worth $292,000 after buying an additional 488 shares during the period. Louisbourg Investments Inc. raised its position in shares of FirstService by 5.7% in the 3rd quarter. Louisbourg Investments Inc. now owns 33,297 shares of the financial services provider’s stock valued at $4,276,000 after acquiring an additional 1,807 shares during the period. TD Waterhouse Canada Inc. raised its position in shares of FirstService by 10.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 73,348 shares of the financial services provider’s stock valued at $9,311,000 after acquiring an additional 6,911 shares during the period. ZWJ Investment Counsel Inc. boosted its stake in FirstService by 1,487.8% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 44,475 shares of the financial services provider’s stock worth $5,687,000 after acquiring an additional 41,674 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its stake in FirstService by 11.9% during the 3rd quarter. Copeland Capital Management LLC now owns 389,749 shares of the financial services provider’s stock worth $49,841,000 after acquiring an additional 41,333 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Trading Down 2.1%

NASDAQ:FSV opened at $141.20 on Wednesday. The business’s 50-day simple moving average is $135.78 and its 200-day simple moving average is $142.62. FirstService Corporation has a fifty-two week low of $119.41 and a fifty-two week high of $166.73.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. FirstService’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 earnings per share. As a group, sell-side analysts anticipate that FirstService Corporation will post 5.61 EPS for the current year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were issued a $0.3050 dividend. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, September 30th.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FSV shares. Wall Street Zen cut shares of FirstService from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Scotiabank reiterated an “outperform” rating on shares of FirstService in a report on Friday. Weiss Ratings raised shares of FirstService from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 22nd. TD lifted their price target on shares of FirstService from $195.00 to $203.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Finally, Scotia boosted their price target on shares of FirstService from $170.00 to $175.00 and gave the company a “sector perform” rating in a report on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.82.

FirstService Profile

FirstService Corporation is a Canadian provider of property management and property services serving customers primarily in the United States and Canada. The company operates through two main businesses: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium and homeowners’ associations, cooperatives, and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support, and related operational services.

FirstService Brands operates and supports a network of property-service businesses, including companies involved in property restoration, painting, flooring, window treatments, and other residential and commercial services.