FirstService Corporation $FSV Holdings Decreased by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. trimmed its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 24.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,677 shares of the financial services provider’s stock after selling 10,063 shares during the period. Waratah Capital Advisors Ltd.’s holdings in FirstService were worth $6,034,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its stake in FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 79 shares in the last quarter. Strs Ohio purchased a new stake in shares of FirstService in the first quarter worth approximately $38,000. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 292 shares during the period. Spire Wealth Management boosted its holdings in shares of FirstService by 300.0% during the third quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 300 shares during the period. Finally, Trust Co. of Vermont grew its position in FirstService by 70.6% during the third quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 180 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Stock Performance

Shares of FSV opened at $155.15 on Wednesday. The company’s fifty day moving average is $157.16 and its 200-day moving average is $170.75. FirstService Corporation has a 12 month low of $147.23 and a 12 month high of $209.66. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 49.10, a price-to-earnings-growth ratio of 4.07 and a beta of 1.06. The company has a quick ratio of 1.77, a current ratio of 1.73 and a debt-to-equity ratio of 0.79.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. FirstService had a net margin of 2.64% and a return on equity of 18.69%. FirstService’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 EPS. Equities analysts expect that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.305 per share. 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 dividend yield of 0.8%. FirstService’s dividend payout ratio is currently 34.81%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSV. TD Securities reiterated a “buy” rating and issued a $217.00 target price on shares of FirstService in a research report on Thursday, February 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $202.00 price target on shares of FirstService in a research note on Thursday, February 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of FirstService in a report on Monday, December 22nd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, FirstService currently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

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.