Canoe Financial LP Has $337,000 Position in FirstService Co. (NASDAQ:FSV)

Canoe Financial LP trimmed its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 93.8% during the third quarter, Holdings Channel reports. The firm owned 1,870 shares of the financial services provider’s stock after selling 28,175 shares during the quarter. Canoe Financial LP’s holdings in FirstService were worth $337,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of FirstService by 2,136.1% during the 2nd quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider’s stock worth $31,853,000 after acquiring an additional 199,937 shares during the period. The Manufacturers Life Insurance Company boosted its position in FirstService by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock worth $415,427,000 after purchasing an additional 174,970 shares during the period. Vanguard Group Inc. increased its holdings in shares of FirstService by 4.8% in the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock valued at $274,363,000 after purchasing an additional 76,503 shares during the last quarter. Summit Creek Advisors LLC bought a new position in shares of FirstService in the first quarter valued at about $11,710,000. Finally, Conestoga Capital Advisors LLC raised its position in shares of FirstService by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock valued at $217,409,000 after purchasing an additional 44,236 shares during the period. Institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

FirstService Stock Performance

Shares of FirstService stock opened at $189.69 on Monday. The company has a 50 day moving average of $180.92 and a 200-day moving average of $164.59. The company has a market cap of $8.56 billion, a PE ratio of 105.97 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. FirstService Co. has a 1-year low of $134.77 and a 1-year high of $192.71.

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, beating the consensus estimate of $1.42 by $0.21. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts forecast that FirstService Co. will post 4.35 earnings per share for the current fiscal year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s payout ratio is currently 55.87%.

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.