Summit Creek Advisors LLC Sells 4,817 Shares of FirstService Corporation $FSV

Summit Creek Advisors LLC cut its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,202 shares of the financial services provider’s stock after selling 4,817 shares during the quarter. FirstService accounts for about 2.3% of Summit Creek Advisors LLC’s holdings, making the stock its 18th biggest holding. Summit Creek Advisors LLC’s holdings in FirstService were worth $14,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Catawba River Capital raised its stake in shares of FirstService by 2.6% during the fourth quarter. Catawba River Capital now owns 48,939 shares of the financial services provider’s stock worth $7,612,000 after acquiring an additional 1,258 shares in the last quarter. PAX Financial Group LLC raised its stake in shares of FirstService by 13.9% during the fourth quarter. PAX Financial Group LLC now owns 1,745 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 213 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in shares of FirstService by 9.1% during the fourth quarter. Swiss Life Asset Management Ltd now owns 5,652 shares of the financial services provider’s stock worth $879,000 after acquiring an additional 471 shares in the last quarter. Truist Financial Corp raised its stake in shares of FirstService by 0.9% during the fourth quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock worth $1,383,000 after acquiring an additional 77 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new position in shares of FirstService during the fourth quarter worth approximately $373,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FSV shares. Scotiabank decreased their price target 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. TD Securities set a $204.00 price target on shares of FirstService in a research note on Friday, April 24th. Stifel Nicolaus decreased their price target on shares of FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, TD Cowen decreased their price target on shares of FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, FirstService has an average rating of “Moderate Buy” and a consensus price target of $196.89.

FirstService Stock Up 3.5%

Shares of NASDAQ FSV opened at $131.62 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService Corporation has a 52 week low of $119.41 and a 52 week high of $209.66. The firm’s fifty day moving average is $139.78 and its 200 day moving average is $150.06. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 3.86 and a beta of 0.97.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, topping 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 company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Announces Dividend

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

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.