Toronto Dominion Bank trimmed its holdings in shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 27.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,261 shares of the financial services provider’s stock after selling 9,624 shares during the period. Toronto Dominion Bank owned approximately 0.07% of FirstService worth $2,134,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of FirstService by 21.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,099,887 shares of the financial services provider’s stock worth $83,605,000 after purchasing an additional 192,780 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of FirstService by 49.4% in the 2nd quarter. CIBC Asset Management Inc now owns 573,450 shares of the financial services provider’s stock worth $43,624,000 after purchasing an additional 189,523 shares in the last quarter. Cumberland Partners Ltd bought a new position in shares of FirstService in the 2nd quarter worth $8,913,000. American Century Companies Inc. lifted its holdings in shares of FirstService by 32.0% in the 3rd quarter. American Century Companies Inc. now owns 211,429 shares of the financial services provider’s stock worth $17,863,000 after purchasing an additional 51,228 shares in the last quarter. Finally, Van Berkom & Associates Inc. lifted its holdings in shares of FirstService by 3.9% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,060,076 shares of the financial services provider’s stock worth $80,496,000 after purchasing an additional 39,629 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.
A number of research firms recently commented on FSV. BMO Capital Markets reissued a “hold” rating and issued a $83.00 price target on shares of FirstService in a research report on Wednesday, October 24th. BidaskClub lowered FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research lowered FirstService from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $82.75.
NASDAQ FSV opened at $73.16 on Monday. The firm has a market capitalization of $2.53 billion, a P/E ratio of 36.04 and a beta of 0.76. FirstService Corp has a 12 month low of $62.90 and a 12 month high of $90.21. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 1.41.
FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). The company had revenue of $506.36 million during the quarter, compared to analysts’ expectations of $505.25 million. FirstService had a net margin of 3.71% and a return on equity of 36.30%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. Equities analysts expect that FirstService Corp will post 1.87 EPS for the current year.
FirstService Corporation provides property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment manages private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.
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