Osterweis Capital Management Inc. Cuts Stake in FirstService Corporation $FSV

Key Points

• Osterweis Capital Management Inc. has reduced its stake in FirstService Corporation by 3.0% in Q1, now holding approximately 111,728 shares valued at around $18.54 million.
• Analysts have a consensus rating of "Moderate Buy" for FirstService, with price targets ranging from $200.00 to $220.00 as brokerages adjust their ratings.
• FirstService reported a better-than-expected earnings per share of $1.71, exceeding estimates and showing a 9.1% year-over-year increase in revenue to $1.42 billion.

Osterweis Capital Management Inc. decreased its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,728 shares of the financial services provider's stock after selling 3,410 shares during the period. Osterweis Capital Management Inc. owned 0.25% of FirstService worth $18,541,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FSV. Vanguard Group Inc. lifted its stake in FirstService by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider's stock worth $301,051,000 after purchasing an additional 20,872 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in FirstService by 53.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock worth $118,767,000 after purchasing an additional 229,889 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in FirstService by 27.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider's stock worth $88,459,000 after purchasing an additional 115,898 shares during the last quarter. Copeland Capital Management LLC lifted its stake in FirstService by 7.2% in the first quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider's stock worth $63,534,000 after purchasing an additional 25,829 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its stake in FirstService by 52.3% in the first quarter. Geneva Capital Management LLC now owns 362,293 shares of the financial services provider's stock worth $60,123,000 after purchasing an additional 124,385 shares during the last quarter. Institutional investors own 69.35% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FSV. Scotiabank raised their price objective on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. TD Securities raised their price objective on shares of FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two 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, FirstService currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Stock Up 1.2%

FSV traded up $2.45 during trading on Friday, hitting $199.79. The stock had a trading volume of 117,274 shares, compared to its average volume of 148,886. The company has a market capitalization of $9.10 billion, a PE ratio of 64.04 and a beta of 0.95. FirstService Corporation has a twelve month low of $153.13 and a twelve month 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 stock has a 50 day simple moving average of $185.92 and a two-hundred day simple moving average of $176.96.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm earned $1.36 earnings per share. FirstService's revenue was up 9.1% compared to the same quarter last year. On average, research analysts predict that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Company 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.