DAVENPORT & Co LLC Has $237,000 Holdings in FirstService Corporation $FSV

DAVENPORT & Co LLC lessened its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 42.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,358 shares of the financial services provider’s stock after selling 993 shares during the period. DAVENPORT & Co LLC’s holdings in FirstService were worth $237,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FSV. Fifth Third Bancorp grew its position in shares of FirstService by 23.0% during the 1st 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. Wealth Enhancement Advisory Services LLC grew its position in FirstService by 11.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,452 shares of the financial services provider’s stock worth $407,000 after buying an additional 248 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in FirstService during the first quarter worth approximately $360,000. Spire Wealth Management grew its position in 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 in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of FirstService by 6.6% during the 1st quarter. Bessemer Group Inc. now owns 166,205 shares of the financial services provider’s stock worth $27,582,000 after purchasing an additional 10,244 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FSV. TD Securities reissued a “hold” rating on shares of FirstService in a report on Thursday, September 4th. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Sunday, September 7th. Zacks Research downgraded shares of FirstService from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of FirstService in a research report on Wednesday, October 8th. Finally, Scotiabank increased their price target 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. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $217.75.

FirstService Trading Up 0.7%

FSV opened at $184.51 on Tuesday. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $209.66. 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 market cap of $8.41 billion, a P/E ratio of 59.14 and a beta of 0.99. The company’s 50 day moving average is $196.83 and its 200-day moving average is $183.15.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share 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 firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business posted $1.36 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.6%. FirstService’s dividend payout ratio (DPR) is 35.26%.

FirstService Company Profile

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.