Fiera Capital Corp Sells 8,126 Shares of FirstService Corporation $FSV

Fiera Capital Corp trimmed its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,918 shares of the financial services provider’s stock after selling 8,126 shares during the period. Fiera Capital Corp owned about 0.53% of FirstService worth $46,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its position in shares of FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares during the period. Strs Ohio bought a new position in FirstService in the first quarter worth approximately $38,000. EverSource Wealth Advisors LLC lifted its holdings in FirstService by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock worth $64,000 after buying an additional 292 shares during the period. Spire Wealth Management boosted its position in FirstService by 300.0% during the 3rd quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 300 shares in the last quarter. Finally, Trust Co. of Vermont boosted its position in FirstService by 70.6% during the 3rd quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

FSV has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of FirstService in a research note on Monday, December 22nd. Scotiabank upgraded shares of FirstService from a “sector perform” rating to a “sector outperform” rating and reduced their target price for the stock from $220.00 to $205.00 in a report on Friday, October 24th. Raymond James Financial decreased their price target on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday, October 27th. Stifel Nicolaus cut their price objective on shares of FirstService from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Finally, Wall Street Zen lowered shares of FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

FirstService Price Performance

Shares of FSV opened at $156.06 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.69 and a quick ratio of 1.77. The company’s fifty day moving average price is $157.15 and its 200-day moving average price is $172.01. FirstService Corporation has a 1-year low of $147.23 and a 1-year high of $209.66. The firm has a market capitalization of $7.14 billion, a PE ratio of 49.39, a price-to-earnings-growth ratio of 4.21 and a beta of 1.06.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 EPS. On average, equities research analysts predict that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Tuesday, March 31st will be issued a $0.305 dividend. This is a boost from FirstService’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, March 31st. This represents a $1.22 annualized dividend and a yield of 0.8%. FirstService’s dividend payout ratio is currently 34.81%.

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.