FirstService Co. (NASDAQ:FSV) Position Reduced by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,700 shares of the financial services provider’s stock after selling 116 shares during the period. Farther Finance Advisors LLC’s holdings in FirstService were worth $715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in FirstService by 4.8% in the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after purchasing an additional 76,503 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in shares of FirstService by 3.2% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock worth $217,409,000 after acquiring an additional 44,236 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of FirstService by 1.6% in the 4th quarter. CIBC Asset Management Inc now owns 520,447 shares of the financial services provider’s stock valued at $84,579,000 after acquiring an additional 8,432 shares during the last quarter. Norges Bank acquired a new stake in shares of FirstService during the 4th quarter valued at approximately $82,488,000. Finally, Bank of Nova Scotia lifted its stake in FirstService by 3.7% during the fourth quarter. Bank of Nova Scotia now owns 362,452 shares of the financial services provider’s stock worth $58,717,000 after purchasing an additional 12,866 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. TD Securities boosted their target price on shares of FirstService from $174.00 to $178.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Scotiabank boosted their price objective on shares of FirstService from $175.00 to $190.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their target price on shares of FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, BMO Capital Markets upped their target price on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.33.

FirstService Stock Performance

Shares of NASDAQ FSV opened at $180.05 on Tuesday. FirstService Co. has a 12-month low of $134.77 and a 12-month high of $180.57. The company has a market cap of $8.10 billion, a PE ratio of 89.13 and a beta of 1.05. The stock has a 50 day simple moving average of $166.81 and a 200-day simple moving average of $159.82. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 EPS. On average, equities research analysts forecast that FirstService Co. will post 4.31 EPS for the current year.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.