FirstService Co. (NASDAQ:FSV) Shares Sold by Boston Financial Mangement LLC

Boston Financial Mangement LLC lessened its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 196,883 shares of the financial services provider’s stock after selling 5,730 shares during the quarter. Boston Financial Mangement LLC owned about 0.44% of FirstService worth $29,999,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in FirstService by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock valued at $274,363,000 after buying an additional 76,503 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in FirstService by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock valued at $217,409,000 after buying an additional 44,236 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of FirstService by 1.6% during the fourth quarter. CIBC Asset Management Inc now owns 520,447 shares of the financial services provider’s stock worth $84,579,000 after purchasing an additional 8,432 shares during the last quarter. Norges Bank acquired a new stake in shares of FirstService during the fourth quarter worth $82,488,000. Finally, Bank of Nova Scotia boosted its holdings in shares of FirstService by 3.7% during the fourth quarter. Bank of Nova Scotia now owns 362,452 shares of the financial services provider’s stock worth $58,717,000 after purchasing an additional 12,866 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Trading Up 1.5 %

FirstService stock traded up $2.61 during midday trading on Friday, reaching $180.05. The stock had a trading volume of 80,217 shares, compared to its average volume of 83,898. FirstService Co. has a twelve month low of $134.77 and a twelve month high of $180.57. The stock has a market capitalization of $8.10 billion, a PE ratio of 89.13 and a beta of 1.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.00 and a current ratio of 1.78. The stock’s 50-day simple moving average is $166.26 and its 200 day simple moving average is $159.79.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts expect that FirstService Co. will post 4.32 EPS for the current year.

Analyst Upgrades and Downgrades

FSV has been the topic of several analyst reports. Royal Bank of Canada raised their price objective on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets raised their price objective on FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. TD Securities raised their price objective on FirstService from $174.00 to $178.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Scotiabank raised their price objective on FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.33.

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.