FirstService Corporation $FSV Stock Position Cut by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. decreased its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 43.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,000 shares of the financial services provider’s stock after selling 6,845 shares during the period. Schwartz Investment Counsel Inc.’s holdings in FirstService were worth $1,151,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FSV. Hilltop National Bank grew its holdings in shares of FirstService by 4.1% during the second quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock worth $292,000 after buying an additional 81 shares in the last quarter. Fifth Third Bancorp lifted its stake in FirstService by 23.7% in the 1st quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 120 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in FirstService by 73.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 302 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 128 shares in the last quarter. USS Investment Management Ltd lifted its stake in FirstService by 1.2% in the 1st quarter. USS Investment Management Ltd now owns 14,890 shares of the financial services provider’s stock valued at $2,047,000 after acquiring an additional 171 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in FirstService by 27.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,286 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 488 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FSV shares. Scotiabank reaffirmed an “outperform” rating on shares of FirstService in a research note on Friday. Canadian Imperial Bank of Commerce lifted their price objective on shares of FirstService from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Friday. TD Securities reissued a “buy” rating and issued a $195.00 price objective on shares of FirstService in a research report on Friday, July 24th. Weiss Ratings raised shares of FirstService from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 22nd. Finally, Scotia increased their target price on shares of FirstService from $170.00 to $175.00 and gave the stock a “sector perform” rating in a report on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.82.

FirstService Stock Performance

FirstService stock opened at $141.20 on Wednesday. The firm has a 50-day moving average of $135.78 and a 200-day moving average of $142.62. FirstService Corporation has a one year low of $119.41 and a one year high of $166.73.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. FirstService’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 EPS. Analysts forecast that FirstService Corporation will post 5.61 EPS for the current year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Wednesday, September 30th were given a dividend of $0.3050 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.22 annualized dividend and a yield of 0.9%.

About FirstService

FirstService Corporation is a Canadian provider of property management and property services serving customers primarily in the United States and Canada. The company operates through two main businesses: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium and homeowners’ associations, cooperatives, and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support, and related operational services.

FirstService Brands operates and supports a network of property-service businesses, including companies involved in property restoration, painting, flooring, window treatments, and other residential and commercial services.