FirstService Corporation $FSV Shares Sold by Osterweis Capital Management Inc.

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. lessened its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,728 shares of the financial services provider's stock after selling 3,410 shares during the period. Osterweis Capital Management Inc. owned approximately 0.25% of FirstService worth $18,541,000 as of its most recent SEC filing.

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

FirstService Stock Performance

FSV traded up $0.0550 on Monday, reaching $199.8450. The company had a trading volume of 24,611 shares, compared to its average volume of 138,087. FirstService Corporation has a 1 year low of $153.13 and a 1 year high of $201.67. The stock has a market capitalization of $9.10 billion, a PE ratio of 64.04 and a beta of 0.95. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average price of $185.92 and a 200-day moving average price of $177.02.

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

Analyst Ratings Changes

FSV has been the topic of a number of analyst reports. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. TD Securities raised their price target on FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Finally, Scotiabank raised their price target on FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Two 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 has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.

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.