Van Lanschot Kempen Investment Management N.V. Sells 3,539 Shares of FirstService Corporation $FSV

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. cut its position in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 77.8% in the first quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 in the last quarter. Copeland Capital Management LLC raised its holdings 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 in the last quarter. Finally, Geneva Capital Management LLC raised its holdings 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 in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have 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 boosted their price target on FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Finally, Scotiabank boosted their price target on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $217.75.

FirstService Price Performance

Shares of FSV stock opened at $199.32 on Thursday. The stock's 50-day simple moving average is $185.08 and its 200-day simple moving average is $176.72. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 63.88 and a beta of 0.95. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week 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.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued 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 firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%.FirstService's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 earnings per share. As a group, equities analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

About FirstService

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.

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