FirstService Corporation (NASDAQ:FSV) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 5.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,272 shares of the financial services provider’s stock after selling 1,081 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in FirstService were worth $3,195,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FSV. Spire Wealth Management raised its position in shares of FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 186 shares in the last quarter. Natixis boosted its holdings in FirstService by 5,511.1% in the fourth quarter. Natixis now owns 505 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 496 shares in the last quarter. State of Wyoming purchased a new position in FirstService in the fourth quarter valued at approximately $101,000. Fifth Third Bancorp raised its holdings in FirstService by 23.0% during the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 144 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in FirstService during the fourth quarter worth approximately $201,000. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Price Performance

Shares of NASDAQ FSV opened at $195.80 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.94 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $179.43 and its 200 day moving average price is $175.41. FirstService Corporation has a 52 week low of $153.13 and a 52 week high of $201.10. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 62.76 and a beta of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the company earned $1.36 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were issued a $0.275 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. FirstService’s dividend payout ratio (DPR) is presently 35.26%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FSV shares. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. TD Securities boosted their target price on FirstService from $200.00 to $211.00 and gave the company a “hold” rating in a report on Friday, July 25th. Finally, Scotiabank reissued a “sector perform” rating and issued a $220.00 target price (up from $210.00) on shares of FirstService in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.75.

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.