Royce & Associates LP Reduces Stock Holdings in FirstService Co. (NASDAQ:FSV)

Royce & Associates LP reduced its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 438,754 shares of the financial services provider’s stock after selling 45,398 shares during the quarter. FirstService makes up about 0.7% of Royce & Associates LP’s holdings, making the stock its 14th biggest holding. Royce & Associates LP owned about 0.97% of FirstService worth $80,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Toronto Dominion Bank grew its stake in FirstService by 68.0% in the first quarter. Toronto Dominion Bank now owns 68,856 shares of the financial services provider’s stock worth $11,416,000 after purchasing an additional 27,871 shares during the period. Amica Mutual Insurance Co. increased its stake in shares of FirstService by 99.9% during the second quarter. Amica Mutual Insurance Co. now owns 9,908 shares of the financial services provider’s stock valued at $1,510,000 after purchasing an additional 4,952 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of FirstService by 8.2% during the second quarter. Envestnet Asset Management Inc. now owns 193,129 shares of the financial services provider’s stock valued at $29,427,000 after purchasing an additional 14,579 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of FirstService by 21.5% in the 1st quarter. Russell Investments Group Ltd. now owns 20,592 shares of the financial services provider’s stock worth $3,414,000 after purchasing an additional 3,644 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of FirstService by 0.8% in the 2nd quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock worth $131,323,000 after buying an additional 6,863 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. TD Securities boosted their target price on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada raised their price objective on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Scotiabank upped their target price on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus increased their price target on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $198.33.

FirstService Stock Down 1.0 %

Shares of FirstService stock opened at $185.26 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $192.71. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 77.19 and a beta of 1.05. The company’s 50 day moving average is $183.74 and its 200 day moving average is $167.87.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. FirstService’s revenue was up 25.0% compared to the same quarter last year. Research analysts anticipate that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Monday, September 30th. FirstService’s payout ratio is 41.67%.

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.