FirstService Corporation $FSV is Summit Creek Advisors LLC’s 4th Largest Position

Summit Creek Advisors LLC decreased its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 6.6% during the 3rd quarter, Holdings Channel reports. The firm owned 99,019 shares of the financial services provider’s stock after selling 6,971 shares during the period. FirstService comprises about 2.7% of Summit Creek Advisors LLC’s holdings, making the stock its 4th biggest holding. Summit Creek Advisors LLC’s holdings in FirstService were worth $18,862,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in FSV. Goldman Sachs Group Inc. boosted its position in FirstService by 79.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after buying an additional 141,152 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of FirstService by 40.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider’s stock valued at $9,856,000 after acquiring an additional 17,072 shares during the period. Strs Ohio bought a new position in shares of FirstService during the first quarter valued at about $38,000. Harbor Capital Advisors Inc. boosted its holdings in shares of FirstService by 0.6% during the second quarter. Harbor Capital Advisors Inc. now owns 9,547 shares of the financial services provider’s stock worth $1,667,000 after purchasing an additional 59 shares during the period. Finally, ARS Wealth Advisors Group LLC bought a new stake in shares of FirstService in the second quarter worth about $2,270,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Stock Up 2.0%

Shares of NASDAQ:FSV opened at $159.47 on Monday. FirstService Corporation has a 52-week low of $147.23 and a 52-week high of $209.66. The firm has a market capitalization of $7.29 billion, a P/E ratio of 52.80, a P/E/G ratio of 2.74 and a beta of 1.06. The stock has a 50 day moving average price of $154.39 and a 200-day moving average price of $176.69. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.77 and a current ratio of 1.77.

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

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Stockholders of record on Wednesday, December 31st were given a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.7%. FirstService’s dividend payout ratio is currently 36.42%.

Analyst Ratings Changes

A number of research analysts have commented on FSV shares. Zacks Research lowered FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. CIBC cut their price objective on FirstService from $225.00 to $216.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Raymond James Financial dropped their price target on FirstService from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Finally, BMO Capital Markets set a $209.00 price target on shares of FirstService and gave the company an “outperform” rating in a report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.83.

About FirstService

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.