Harbor Capital Advisors Inc. Has $529,000 Stock Position in FirstService Corporation $FSV

Harbor Capital Advisors Inc. cut its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 70.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,778 shares of the financial services provider’s stock after selling 6,769 shares during the period. Harbor Capital Advisors Inc.’s holdings in FirstService were worth $529,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Trust Co. of Vermont increased its holdings in FirstService by 70.6% in the 3rd quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 180 shares in the last quarter. Argent Capital Management LLC grew its holdings in shares of FirstService by 1.5% during the third quarter. Argent Capital Management LLC now owns 34,290 shares of the financial services provider’s stock worth $6,532,000 after purchasing an additional 496 shares during the last quarter. Quotient Wealth Partners LLC bought a new stake in shares of FirstService during the third quarter worth about $208,000. ARS Wealth Advisors Group LLC increased its stake in shares of FirstService by 23.1% in the third quarter. ARS Wealth Advisors Group LLC now owns 16,000 shares of the financial services provider’s stock valued at $3,048,000 after buying an additional 3,000 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in FirstService by 28.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,759 shares of the financial services provider’s stock valued at $307,000 after buying an additional 393 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Price Performance

FSV stock opened at $156.74 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.90. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 51.90, a PEG ratio of 2.96 and a beta of 1.05. The company’s fifty day simple moving average is $156.91 and its 200 day simple moving average is $178.17. FirstService Corporation has a 12-month low of $147.23 and a 12-month high of $209.66.

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

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 31st will be issued 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 is presently 36.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Zacks Research lowered shares of FirstService from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Raymond James Financial reduced their price objective on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. BMO Capital Markets set a $209.00 price objective on FirstService and gave the company an “outperform” rating in a report on Friday, October 24th. TD Securities cut their target price on FirstService from $213.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, CIBC reduced their price target on FirstService from $225.00 to $216.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $211.83.

About FirstService

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.