Apollon Wealth Management LLC Decreases Position in FirstService Corporation $FSV

Apollon Wealth Management LLC lowered its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,524 shares of the financial services provider’s stock after selling 59 shares during the quarter. Apollon Wealth Management LLC’s holdings in FirstService were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. TCTC Holdings LLC raised its position in FirstService by 155.2% in the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Strs Ohio acquired a new position in shares of FirstService during the first quarter worth about $38,000. Spire Wealth Management increased its position in shares of FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 186 shares during the last quarter. SVB Wealth LLC acquired a new stake in FirstService in the first quarter valued at $90,000. Finally, State of Wyoming raised its position in shares of FirstService by 11.1% during the 1st quarter. State of Wyoming now owns 621 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 62 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on FSV shares. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. Zacks Research lowered shares of FirstService from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. TD Securities reiterated a “hold” rating on shares of FirstService in a research report on Thursday, September 4th. Scotiabank increased their target price on FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of FirstService in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $217.75.

FirstService Stock Performance

NASDAQ:FSV opened at $183.26 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $195.75 and a two-hundred day moving average price of $183.47. FirstService Corporation has a twelve month low of $153.13 and a twelve month high of $209.66. The company has a market capitalization of $8.36 billion, a P/E ratio of 58.74 and a beta of 0.99.

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

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, September 30th. FirstService’s dividend payout ratio is 35.26%.

FirstService Company 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.