Rhumbline Advisers Sells 119 Shares of FirstService Corporation $FSV

Rhumbline Advisers trimmed its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,068 shares of the financial services provider’s stock after selling 119 shares during the quarter. Rhumbline Advisers’ holdings in FirstService were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FSV. TCTC Holdings LLC increased its position in shares of FirstService by 155.2% during the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock worth $28,000 after buying an additional 104 shares during the period. Strs Ohio acquired a new stake in shares of FirstService during the first quarter worth $38,000. Spire Wealth Management increased its position in shares of FirstService by 52.1% during the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock worth $90,000 after buying an additional 186 shares during the period. SVB Wealth LLC acquired a new stake in shares of FirstService during the first quarter worth $90,000. Finally, State of Wyoming acquired a new stake in shares of FirstService during the fourth quarter worth $101,000. 69.35% of the stock is owned by institutional investors.

FirstService Stock Down 1.7%

FirstService stock opened at $191.05 on Thursday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $209.66. The firm’s fifty day moving average is $197.44 and its 200 day moving average is $181.20. The company has a market capitalization of $8.71 billion, a PE ratio of 61.23 and a beta of 0.96.

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

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.6%. FirstService’s payout ratio is presently 35.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FSV. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. Scotiabank increased their price objective on shares of FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. Finally, TD Securities reiterated a “hold” rating on shares of FirstService in a research report on Thursday, September 4th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently 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.