William Blair Investment Management LLC Sells 14,046 Shares of FirstService Corporation $FSV

William Blair Investment Management LLC cut its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 497,441 shares of the financial services provider’s stock after selling 14,046 shares during the period. William Blair Investment Management LLC owned 1.09% of FirstService worth $94,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evergreen Capital Management LLC lifted its holdings in FirstService by 5.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 77 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after buying an additional 79 shares in the last quarter. Parr Mcknight Wealth Management Group LLC boosted its position in shares of FirstService by 1.1% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock valued at $1,444,000 after acquiring an additional 81 shares during the period. NorthCrest Asset Manangement LLC grew its stake in shares of FirstService by 4.2% in the third quarter. NorthCrest Asset Manangement LLC now owns 2,209 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 90 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of FirstService by 2.5% in the second quarter. Public Sector Pension Investment Board now owns 4,076 shares of the financial services provider’s stock valued at $710,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FSV. BMO Capital Markets reissued an “outperform” rating and issued a $202.00 price objective on shares of FirstService in a report on Thursday, February 5th. TD Securities reiterated a “buy” rating and issued a $217.00 price target on shares of FirstService in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a research report on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, FirstService has an average rating of “Moderate Buy” and an average price target of $211.67.

FirstService Stock Down 0.5%

NASDAQ FSV opened at $157.57 on Friday. The business has a fifty day moving average price of $157.24 and a two-hundred day moving average price of $170.11. The stock has a market capitalization of $7.20 billion, a PE ratio of 49.86, a PEG ratio of 4.23 and a beta of 1.06. FirstService Corporation has a fifty-two week low of $147.23 and a fifty-two week high of $209.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.77.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $1.34 EPS. FirstService’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Tuesday, March 31st will be given a dividend of $0.305 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.22 dividend on an annualized basis and a yield of 0.8%. This is a positive change from FirstService’s previous quarterly dividend of $0.28. FirstService’s dividend payout ratio is currently 34.81%.

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.