Charles Schwab Investment Management Inc. Sells 1,604 Shares of FirstService Corporation $FSV

Charles Schwab Investment Management Inc. lowered its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,663 shares of the financial services provider’s stock after selling 1,604 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.20% of FirstService worth $14,700,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FSV. Allianz Asset Management GmbH boosted its holdings in FirstService by 1.3% in the 1st quarter. Allianz Asset Management GmbH now owns 5,784 shares of the financial services provider’s stock valued at $959,000 after purchasing an additional 76 shares during the period. Diversify Wealth Management LLC lifted its position in shares of FirstService by 4.4% in the 1st quarter. Diversify Wealth Management LLC now owns 2,127 shares of the financial services provider’s stock worth $366,000 after acquiring an additional 89 shares during the period. Bank of Nova Scotia Trust Co. lifted its position in shares of FirstService by 1.2% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 7,394 shares of the financial services provider’s stock worth $1,227,000 after acquiring an additional 90 shares during the period. US Bancorp DE lifted its position in shares of FirstService by 7.3% in the 1st quarter. US Bancorp DE now owns 1,431 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 97 shares during the period. Finally, Stifel Financial Corp lifted its position in FirstService by 0.5% in the fourth quarter. Stifel Financial Corp now owns 21,205 shares of the financial services provider’s stock worth $3,838,000 after purchasing an additional 102 shares during the period. 69.35% of the stock is owned by institutional investors.

FirstService Trading Up 1.2%

Shares of NASDAQ FSV opened at $199.79 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average of $185.92 and a two-hundred day moving average of $176.98. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $201.67. The company has a market cap of $9.10 billion, a PE ratio of 64.04 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 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.26. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. FirstService’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. As a group, equities analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Scotiabank raised their target price on FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, TD Securities raised their target price on FirstService from $200.00 to $211.00 and gave the stock a “hold” rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus 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.