Osterweis Capital Management Inc. Sells 3,410 Shares of FirstService Corporation $FSV

Key Points

• Osterweis Capital Management Inc. reduced its stake in FirstService Corporation by 3.0%, now owning 111,728 shares valued at approximately $18.54 million.
• FirstService Corporation reported better-than-expected quarterly earnings with an EPS of $1.71, exceeding analysts' estimates by $0.26.
• The firm announced a quarterly dividend of $0.275 per share, with an ex-dividend date set for September 30th.

Osterweis Capital Management Inc. cut its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,728 shares of the financial services provider's stock after selling 3,410 shares during the quarter. 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 and hedge funds have also modified their holdings of the business. State of Wyoming increased its position in FirstService by 11.1% during the first quarter. State of Wyoming now owns 621 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 62 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of FirstService by 1.3% during the 1st quarter. Allianz Asset Management GmbH now owns 5,784 shares of the financial services provider's stock valued at $959,000 after purchasing an additional 76 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of FirstService by 2.8% in the 1st quarter. HighTower Advisors LLC now owns 3,058 shares of the financial services provider's stock worth $508,000 after purchasing an additional 84 shares during the period. Diversify Wealth Management LLC boosted its holdings in shares of FirstService by 4.4% in the first quarter. Diversify Wealth Management LLC now owns 2,127 shares of the financial services provider's stock worth $366,000 after buying an additional 89 shares during the last quarter. Finally, Advisors Capital Management LLC grew its position in FirstService by 0.4% during the first quarter. Advisors Capital Management LLC now owns 22,644 shares of the financial services provider's stock valued at $3,758,000 after buying an additional 89 shares during the period. Institutional investors own 69.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FSV shares. Scotiabank raised their target price on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. TD Securities reissued a "hold" rating on shares of FirstService in a report on Thursday, September 4th. Finally, Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $217.75.

FirstService Price Performance

Shares of FSV stock traded up $1.41 during trading hours on Wednesday, hitting $204.08. The stock had a trading volume of 26,766 shares, compared to its average volume of 133,119. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 65.36 and a beta of 0.96. FirstService Corporation has a one year low of $153.13 and a one year high of $209.66. The stock's 50-day moving average price is $194.98 and its two-hundred day moving average price is $180.25.

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

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 30th. FirstService's dividend payout ratio is currently 35.26%.

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.