Fenimore Asset Management Inc Sells 216 Shares of FirstService Corporation $FSV

Fenimore Asset Management Inc lowered its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 0.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 100,361 shares of the financial services provider’s stock after selling 216 shares during the period. Fenimore Asset Management Inc’s holdings in FirstService were worth $17,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fiera Capital Corp boosted its holdings in FirstService by 3.9% in the first quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider’s stock worth $44,639,000 after acquiring an additional 10,087 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of FirstService by 61.6% in the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider’s stock worth $55,637,000 after buying an additional 127,846 shares in the last quarter. Summit Creek Advisors LLC increased its position in shares of FirstService by 8.4% during the first quarter. Summit Creek Advisors LLC now owns 115,245 shares of the financial services provider’s stock valued at $19,125,000 after acquiring an additional 8,961 shares in the last quarter. Baskin Financial Services Inc. boosted its stake in FirstService by 0.6% during the 1st quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider’s stock valued at $41,757,000 after purchasing an additional 1,588 shares during the last quarter. Finally, Spire Wealth Management raised its stake in shares of FirstService by 52.1% in the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of NASDAQ FSV opened at $188.72 on Monday. The stock has a market cap of $8.61 billion, a PE ratio of 60.49 and a beta of 0.99. FirstService Corporation has a 1 year low of $153.13 and a 1 year high of $209.66. The firm has a fifty day moving average price of $198.22 and a 200-day moving average price of $182.53. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.26. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. FirstService’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 EPS. Equities analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. FirstService’s payout ratio is presently 35.26%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FSV shares. Weiss Ratings restated a “buy (b-)” rating on shares of FirstService in a research report on Saturday, September 27th. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. Zacks Research cut FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. TD Securities restated a “hold” rating on shares of FirstService in a research note on Thursday, September 4th. Finally, Scotiabank raised their price objective on shares of FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.75.

FirstService Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.