FirstService Corporation $FSV Stock Holdings Trimmed by Summit Creek Advisors LLC

Summit Creek Advisors LLC lowered its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 40.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 29,221 shares of the financial services provider’s stock after selling 20,011 shares during the period. Summit Creek Advisors LLC’s holdings in FirstService were worth $3,737,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Rockefeller Capital Management L.P. grew its position in shares of FirstService by 73.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 302 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 128 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of FirstService by 23.7% in the 1st quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 120 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of FirstService in the 2nd quarter valued at $220,000. State of Wyoming purchased a new stake in FirstService in the 1st quarter valued at $247,000. Finally, Hilltop National Bank raised its position in FirstService by 4.1% in the 2nd quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 81 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on FSV shares. Scotia increased their price target on shares of FirstService from $170.00 to $175.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of FirstService in a report on Friday, October 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $179.00 target price on shares of FirstService in a research note on Friday, October 23rd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.82.

FirstService Price Performance

FirstService stock opened at $153.12 on Friday. FirstService Corporation has a 12 month low of $119.41 and a 12 month high of $166.73. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.56 and a quick ratio of 1.63. The business has a 50 day simple moving average of $136.63 and a 200-day simple moving average of $142.17. The stock has a market capitalization of $6.42 billion, a PE ratio of 46.68, a price-to-earnings-growth ratio of 2.89 and a beta of 0.89.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.05. FirstService had a return on equity of 19.66% and a net margin of 2.59%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $1.76 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts predict that FirstService Corporation will post 5.63 earnings per share for the current year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.3050 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.22 dividend on an annualized basis and a yield of 0.8%. FirstService’s dividend payout ratio is presently 37.20%.

About FirstService

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.