Waratah Capital Advisors Ltd. Sells 2,205 Shares of FirstService Corporation $FSV

Waratah Capital Advisors Ltd. lessened its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 5.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,740 shares of the financial services provider’s stock after selling 2,205 shares during the period. Waratah Capital Advisors Ltd. owned about 0.09% of FirstService worth $7,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. TCTC Holdings LLC lifted its stake in FirstService by 155.2% in the first 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 during the last quarter. Strs Ohio bought a new position in shares of FirstService during the 1st quarter worth $38,000. SVB Wealth LLC purchased a new stake in FirstService in the 1st quarter worth about $90,000. State of Wyoming raised its stake in FirstService by 11.1% in the 1st quarter. State of Wyoming now owns 621 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 62 shares during the period. Finally, Hardy Reed LLC bought a new position in FirstService during the second quarter worth about $216,000. 69.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Scotiabank raised shares of FirstService from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the company from $220.00 to $205.00 in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a report on Thursday. CIBC decreased their price objective on FirstService from $225.00 to $216.00 and set an “outperform” rating on the stock in a research note on Friday, October 24th. TD Securities cut their target price on FirstService from $213.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Wall Street Zen lowered FirstService from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.83.

FirstService Stock Performance

NASDAQ:FSV opened at $156.13 on Friday. The stock has a market cap of $7.14 billion, a P/E ratio of 51.70 and a beta of 0.99. The company has a quick ratio of 1.76, a current ratio of 1.73 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $180.54 and its two-hundred day moving average price is $182.63. FirstService Corporation has a twelve month low of $149.13 and a twelve month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.76 EPS for the quarter, hitting the consensus estimate of $1.76. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. FirstService had a return on equity of 17.98% and a net margin of 2.53%.FirstService’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 earnings per share. As a group, equities analysts predict that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.275 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.7%. FirstService’s dividend payout ratio (DPR) is 36.42%.

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.