Fiera Capital Corp Sells 34,613 Shares of FirstService Corporation $FSV

Fiera Capital Corp cut its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 14.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 208,305 shares of the financial services provider’s stock after selling 34,613 shares during the period. Fiera Capital Corp’s holdings in FirstService were worth $32,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Durable Capital Partners LP boosted its stake in FirstService by 12.9% in the third quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock valued at $422,263,000 after acquiring an additional 253,155 shares during the last quarter. Vanguard Group Inc. boosted its stake in FirstService by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock valued at $304,000,000 after acquiring an additional 29,805 shares during the last quarter. Mackenzie Financial Corp boosted its stake in FirstService by 5.1% in the third quarter. Mackenzie Financial Corp now owns 1,551,175 shares of the financial services provider’s stock valued at $295,481,000 after acquiring an additional 75,712 shares during the last quarter. Orbis Allan Gray Ltd boosted its stake in FirstService by 0.5% in the second quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider’s stock valued at $248,636,000 after acquiring an additional 6,680 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in FirstService by 2.3% in the third quarter. Franklin Resources Inc. now owns 600,155 shares of the financial services provider’s stock valued at $114,323,000 after acquiring an additional 13,264 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

FirstService Stock Down 1.6%

Shares of FSV stock opened at $138.40 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $209.66. The firm’s fifty day moving average price is $138.60 and its two-hundred day moving average price is $148.33. The firm has a market capitalization of $6.36 billion, a P/E ratio of 39.10, a PEG ratio of 4.27 and a beta of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business earned $0.92 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 30th will be paid a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. FirstService’s payout ratio is presently 34.46%.

Analysts Set New Price Targets

FSV has been the topic of a number of recent research reports. Scotiabank reduced their price objective on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 24th. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Loop Capital began coverage on shares of FirstService in a report on Monday, May 4th. They issued a “hold” rating and a $140.00 target price on the stock. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, TD Cowen reiterated a “buy” rating and issued a $204.00 target price on shares of FirstService in a report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $197.22.

FirstService 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.