FirstService Corporation (NASDAQ:FSV) Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. trimmed its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,549 shares of the financial services provider’s stock after selling 1,007 shares during the period. Triasima Portfolio Management inc.’s holdings in FirstService were worth $2,412,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Spire Wealth Management increased its holdings 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 acquiring an additional 186 shares during the last quarter. Natixis increased its holdings in shares of FirstService by 5,511.1% in the 4th quarter. Natixis now owns 505 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 496 shares during the last quarter. State of Wyoming bought a new stake in shares of FirstService in the 4th quarter valued at approximately $101,000. Fifth Third Bancorp increased its holdings in shares of FirstService by 23.0% in the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 144 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of FirstService in the 4th quarter valued at approximately $201,000. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FSV. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. TD Securities boosted their price target on FirstService from $198.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, May 7th. Finally, Scotiabank lowered their price target on FirstService from $217.50 to $210.00 and set a “sector perform” rating for the company in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FirstService has an average rating of “Moderate Buy” and an average target price of $208.40.

FirstService Price Performance

Shares of FSV opened at $176.67 on Wednesday. The company has a market cap of $8.03 billion, a P/E ratio of 61.13 and a beta of 0.99. The stock has a fifty day moving average price of $175.87 and a 200 day moving average price of $174.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.94 and a quick ratio of 1.94. FirstService Corporation has a 12 month low of $153.13 and a 12 month high of $197.84.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 17.49% and a net margin of 2.46%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. On average, research analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th were paid a $0.275 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.62%. FirstService’s payout ratio is 38.06%.

About FirstService

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.