Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in FirstService Co. (NASDAQ:FSV)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 3.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 466,731 shares of the financial services provider’s stock after selling 17,309 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.03% of FirstService worth $85,267,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Russell Investments Group Ltd. lifted its position in FirstService by 21.5% in the first quarter. Russell Investments Group Ltd. now owns 20,592 shares of the financial services provider’s stock valued at $3,414,000 after buying an additional 3,644 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of FirstService by 23.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,700 shares of the financial services provider’s stock worth $6,559,000 after acquiring an additional 7,600 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of FirstService by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after purchasing an additional 76,503 shares during the period. Acadian Asset Management LLC increased its holdings in FirstService by 39.3% in the 1st quarter. Acadian Asset Management LLC now owns 8,500 shares of the financial services provider’s stock valued at $1,407,000 after purchasing an additional 2,400 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in FirstService by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 600 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Up 1.2 %

FSV stock opened at $186.08 on Wednesday. The company’s 50 day moving average price is $184.20 and its 200 day moving average price is $168.92. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 77.53 and a beta of 1.05. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $192.71. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.21. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. On average, equities research analysts anticipate that FirstService Co. will post 4.58 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. FirstService’s payout ratio is currently 41.67%.

Analyst Upgrades and Downgrades

FSV has been the subject of several research analyst reports. TD Securities raised their price target on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada boosted their price target on shares of FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Scotiabank raised their price objective on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus upped their target price on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.33.

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.