Van Lanschot Kempen Investment Management N.V. Reduces Stake in FirstService Corporation $FSV

Van Lanschot Kempen Investment Management N.V. lowered its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 77.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,009 shares of the financial services provider’s stock after selling 3,539 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in FirstService were worth $167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of FSV. Fiera Capital Corp lifted its stake in shares of FirstService by 3.9% in the 1st quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider’s stock valued at $44,639,000 after purchasing an additional 10,087 shares during the period. Summit Creek Advisors LLC lifted its stake in shares of FirstService by 8.4% in the 1st quarter. Summit Creek Advisors LLC now owns 115,245 shares of the financial services provider’s stock valued at $19,125,000 after purchasing an additional 8,961 shares during the period. TD Asset Management Inc lifted its stake in shares of FirstService by 61.6% in the 1st quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider’s stock valued at $55,637,000 after purchasing an additional 127,846 shares during the period. Baskin Financial Services Inc. lifted its stake in shares of FirstService by 0.6% in the 1st quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider’s stock valued at $41,757,000 after purchasing an additional 1,588 shares during the period. Finally, Spire Wealth Management lifted its stake in shares of FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 186 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Down 0.5%

NASDAQ FSV opened at $199.32 on Thursday. The business has a fifty day moving average price of $185.08 and a 200 day moving average price of $176.72. FirstService Corporation has a one year low of $153.13 and a one year high of $201.67. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market cap of $9.08 billion, a P/E ratio of 63.88 and a beta of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company earned $1.36 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Research analysts anticipate that FirstService Corporation will post 5.27 EPS for the current fiscal year.

Analyst Ratings Changes

FSV has been the subject of several analyst reports. Scotiabank boosted their target price on shares of FirstService from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, TD Securities increased their target price on FirstService from $200.00 to $211.00 and gave the company a “hold” rating in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.75.

FirstService 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.