FirstService Corporation $FSV Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1.3% in the third quarter, HoldingsChannel.com reports. The fund owned 306,976 shares of the financial services provider’s stock after selling 3,976 shares during the quarter. William Blair Investment Management LLC’s holdings in FirstService were worth $39,256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp grew its position in FirstService by 23.7% during the 1st quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 120 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in FirstService during the 2nd quarter valued at $220,000. State of Wyoming acquired a new stake in FirstService during the 1st quarter valued at $247,000. Vise Technologies Inc. acquired a new stake in FirstService during the 3rd quarter valued at $290,000. Finally, Hilltop National Bank raised its position in FirstService by 4.1% in the 2nd quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 81 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FSV shares. Scotia lifted their price objective on FirstService from $170.00 to $175.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Raymond James Financial restated an “outperform” rating and set a $190.00 target price on shares of FirstService in a report on Friday, October 23rd. BMO Capital Markets restated an “outperform” rating and issued a $179.00 target price on shares of FirstService in a research note on Friday, October 23rd. TD Securities reaffirmed a “buy” rating and issued a $195.00 price target on shares of FirstService in a report on Friday, July 24th. Finally, Deutsche Bank reaffirmed a “hold” rating and issued a $144.00 price target on shares of FirstService in a report on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, FirstService presently has an average rating of “Moderate Buy” and a consensus price target of $179.82.

FirstService Price Performance

Shares of FSV stock traded up $0.26 during trading hours on Friday, reaching $154.42. 254,680 shares of the company were exchanged, compared to its average volume of 177,707. FirstService Corporation has a fifty-two week low of $119.41 and a fifty-two week high of $166.73. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.56 and a quick ratio of 1.56. The stock’s fifty day moving average is $138.14 and its two-hundred day moving average is $142.06. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 47.08, a P/E/G ratio of 2.90 and a beta of 0.89.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. FirstService had a net margin of 2.59% and a return on equity of 19.66%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $1.76 earnings per share. FirstService’s revenue for the quarter was up 5.8% compared to the same quarter last year. Sell-side analysts forecast that FirstService Corporation will post 5.63 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th were given a $0.3050 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, September 30th. FirstService’s dividend payout ratio (DPR) is presently 37.20%.

FirstService Profile

FirstService Corporation is a North American property services company operating through two primary businesses: FirstService Residential and FirstService Brands. The company serves residential communities and property owners in the United States and Canada. FirstService Residential provides property management services to condominium and homeowner associations, as well as other residential communities. Its services include day-to-day community operations, maintenance coordination, financial administration and support for boards and residents.