Corient Private Wealth LLC Sells 11,891 Shares of FirstService Corporation $FSV

Corient Private Wealth LLC decreased its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 72.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,616 shares of the financial services provider’s stock after selling 11,891 shares during the quarter. Corient Private Wealth LLC’s holdings in FirstService were worth $806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FSV. Mackenzie Financial Corp raised its position in FirstService by 100.8% in the 2nd quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock valued at $257,634,000 after buying an additional 740,583 shares during the last quarter. Norges Bank acquired a new stake in shares of FirstService in the second quarter valued at approximately $93,904,000. Picton Mahoney Asset Management acquired a new stake in shares of FirstService in the second quarter valued at approximately $56,029,000. Orbis Allan Gray Ltd lifted its position in shares of FirstService by 18.8% in the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock worth $235,183,000 after purchasing an additional 224,125 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in FirstService by 79.5% during the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock worth $52,880,000 after purchasing an additional 141,152 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Stock Performance

FSV opened at $156.74 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.90. FirstService Corporation has a 12-month low of $147.23 and a 12-month high of $209.66. The business has a 50 day moving average of $156.91 and a 200-day moving average of $178.18. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 51.90, a PEG ratio of 2.95 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.76. FirstService had a return on equity of 17.98% and a net margin of 2.53%.The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the business earned $1.63 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 31st. FirstService’s dividend payout ratio (DPR) is currently 36.42%.

Analyst Upgrades and Downgrades

FSV has been the topic of several analyst reports. CIBC cut their price target on shares of FirstService from $225.00 to $216.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Raymond James Financial lowered their target price on FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Stifel Nicolaus reduced their price target on FirstService from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a research report on Monday. Finally, Zacks Research downgraded FirstService from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.83.

FirstService Company Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.