FirstService Corporation $FSV Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC lessened its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 40.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 29,221 shares of the financial services provider’s stock after selling 20,011 shares during the quarter. Summit Creek Advisors LLC owned 0.07% of FirstService worth $3,737,000 as of its most recent filing with the SEC.

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

FirstService Trading Down 0.3%

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

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. FirstService had a net margin of 2.59% and a return on equity of 19.66%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the business earned $1.76 EPS. FirstService’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that FirstService Corporation will post 5.63 EPS for the current fiscal year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders 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 dividend yield of 0.8%. FirstService’s payout ratio is 37.20%.

Analysts Set New Price Targets

FSV has been the topic of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of FirstService from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Weiss Ratings downgraded shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. TD Securities reiterated a “buy” rating and set a $195.00 target price on shares of FirstService in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce increased their target price on FirstService from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Friday, October 23rd. Finally, Scotiabank restated an “outperform” rating 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.82.

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.