FirstService Corporation $FSV Stock Position Lowered by Summit Creek Advisors LLC

Summit Creek Advisors LLC trimmed its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,019 shares of the financial services provider’s stock after selling 6,971 shares during the period. FirstService makes up 2.7% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Summit Creek Advisors LLC owned approximately 0.22% of FirstService worth $18,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Capital Management LLC grew its position in shares of FirstService by 12.0% during the 2nd quarter. Advisors Capital Management LLC now owns 25,350 shares of the financial services provider’s stock valued at $4,427,000 after purchasing an additional 2,706 shares in the last quarter. Creative Planning boosted its stake in FirstService by 26.7% during the second quarter. Creative Planning now owns 11,019 shares of the financial services provider’s stock valued at $1,924,000 after buying an additional 2,322 shares during the period. Acadian Asset Management LLC grew its position in FirstService by 131.3% during the second quarter. Acadian Asset Management LLC now owns 176,700 shares of the financial services provider’s stock worth $30,754,000 after buying an additional 100,300 shares in the last quarter. Geode Capital Management LLC increased its stake in FirstService by 12.0% in the 2nd quarter. Geode Capital Management LLC now owns 433,759 shares of the financial services provider’s stock worth $79,231,000 after acquiring an additional 46,333 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in FirstService by 2.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 275,849 shares of the financial services provider’s stock worth $48,169,000 after acquiring an additional 5,339 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Trading Up 2.0%

FSV stock opened at $159.47 on Monday. The company has a market capitalization of $7.29 billion, a PE ratio of 52.80, a price-to-earnings-growth ratio of 2.74 and a beta of 1.06. 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 Corporation has a one year low of $147.23 and a one year high of $209.66. The company’s 50 day moving average price is $154.39 and its two-hundred day moving average price is $176.69.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, October 23rd. The financial services provider reported $1.76 EPS 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 net margin of 2.53% and a return on equity of 17.98%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. As a group, analysts predict that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

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

Analyst Upgrades and Downgrades

FSV has been the subject of a number of research analyst reports. 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 report on Monday, October 27th. TD Securities dropped their target price on shares of FirstService from $213.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. BMO Capital Markets set a $209.00 price target on shares of FirstService and gave the stock an “outperform” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a report on Monday, December 22nd. Finally, CIBC cut their target price on shares of FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, FirstService currently has an average rating of “Moderate Buy” and an average price target of $211.83.

FirstService Company Profile

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.