FirstService Corporation $FSV Shares Sold by Van Lanschot Kempen Investment Management N.V.

Key Points

• Van Lanschot Kempen Investment Management N.V. significantly reduced its stake in FirstService Corporation by 77.8%, selling 3,539 shares during the first quarter.
• Analysts have recently upgraded FirstService's stock rating to "buy", with the average price target now set at $217.75.
• FirstService reported $1.71 EPS for the last quarter, exceeding analyst estimates of $1.45, while revenue rose 9.1% year-over-year.

Van Lanschot Kempen Investment Management N.V. lowered its stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 77.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,009 shares of the financial services provider's stock after selling 3,539 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in FirstService were worth $167,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FSV. Price T Rowe Associates Inc. MD raised its position in shares of FirstService by 53.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock valued at $118,767,000 after buying an additional 229,889 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of FirstService during the 1st quarter valued at about $30,523,000. TD Asset Management Inc raised its position in shares of FirstService by 61.6% during 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 buying an additional 127,846 shares in the last quarter. Geneva Capital Management LLC grew its holdings in FirstService by 52.3% during the 1st quarter. Geneva Capital Management LLC now owns 362,293 shares of the financial services provider's stock valued at $60,123,000 after purchasing an additional 124,385 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in FirstService by 27.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider's stock valued at $88,459,000 after purchasing an additional 115,898 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. TD Securities upped their target price 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, Scotiabank upped their target price 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. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.

FirstService Stock Up 0.9%

Shares of NASDAQ FSV traded up $1.78 during midday trading on Tuesday, reaching $202.03. 19,177 shares of the company's stock traded hands, compared to its average volume of 137,546. 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's 50 day simple moving average is $186.37 and its 200-day simple moving average is $177.21. FirstService Corporation has a one year low of $153.13 and a one year high of $202.56. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 64.82 and a beta of 0.95.

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, beating analysts' consensus estimates of $1.45 by $0.26. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. FirstService's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. On average, analysts predict that FirstService Corporation will post 5.27 EPS for the current fiscal 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.