William Blair Investment Management LLC Sells 14,046 Shares of FirstService Corporation $FSV

William Blair Investment Management LLC lowered its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 497,441 shares of the financial services provider’s stock after selling 14,046 shares during the period. William Blair Investment Management LLC’s holdings in FirstService were worth $94,758,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in shares of FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares during the last quarter. Strs Ohio bought a new stake in FirstService during the 1st quarter worth approximately $38,000. EverSource Wealth Advisors LLC increased its position in FirstService by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 292 shares during the period. Spire Wealth Management raised its stake in shares of FirstService by 300.0% during the third quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 300 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in shares of FirstService by 70.6% during the third quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 180 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

Shares of FSV opened at $157.57 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The firm’s fifty day simple moving average is $157.24 and its two-hundred day simple moving average is $170.11. FirstService Corporation has a 12 month low of $147.23 and a 12 month high of $209.66. The stock has a market capitalization of $7.20 billion, a P/E ratio of 49.86, a price-to-earnings-growth ratio of 4.23 and a beta of 1.06.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the business earned $1.34 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, analysts predict that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.305 per share. This is a boost from FirstService’s previous quarterly dividend of $0.28. This represents a $1.22 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 31st. FirstService’s payout ratio is currently 34.81%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FSV. Weiss Ratings restated a “hold (c+)” rating on shares of FirstService in a report on Monday, December 22nd. TD Securities reiterated a “buy” rating and issued a $217.00 price target on shares of FirstService in a research report on Thursday, February 5th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $202.00 price target on shares of FirstService in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

FirstService Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.