FirstService Corporation (NASDAQ:FSV) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in FirstService Corporation by 31%, resulting in a holding worth $634,000 after selling 1,715 shares in the first quarter.
• FirstService Corporation reported an EPS of $1.71 for the latest quarter, exceeding expectations, with revenue of $1.42 billion, a year-over-year increase of 9.1%.
• The company announced a quarterly dividend of $0.275 per share, reflecting a dividend yield of 0.6% and a payout ratio of 35.26%.

J. Safra Sarasin Holding AG lowered its stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 31.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,826 shares of the financial services provider's stock after selling 1,715 shares during the quarter. J. Safra Sarasin Holding AG's holdings in FirstService were worth $634,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. TCTC Holdings LLC raised its stake in shares of FirstService by 155.2% in the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 104 shares in the last quarter. Natixis increased its holdings in FirstService by 5,511.1% during the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after purchasing an additional 496 shares during the period. Spire Wealth Management raised its position in 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 in the last quarter. State of Wyoming acquired a new stake in FirstService in the 4th quarter valued at about $101,000. Finally, Fifth Third Bancorp boosted its stake in shares of FirstService by 23.0% in the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock valued at $128,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 69.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FSV shares. TD Securities raised their target price on shares of FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a report on Friday, July 25th. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Scotiabank lifted their price objective on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Stock Down 0.5%

FirstService stock traded down $1.05 during mid-day trading on Friday, hitting $197.69. The company had a trading volume of 43,740 shares, compared to its average volume of 140,759. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 63.35 and a beta of 0.95. FirstService Corporation has a 1 year low of $153.13 and a 1 year high of $201.10. The company has a quick ratio of 1.94, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $181.20 and a 200 day moving average of $175.86.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The business's revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

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.