Apollon Wealth Management LLC Lowers Stock Holdings in FirstService Co. (NASDAQ:FSV)

Apollon Wealth Management LLC trimmed its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 8.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,027 shares of the financial services provider’s stock after selling 198 shares during the period. Apollon Wealth Management LLC’s holdings in FirstService were worth $370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 242 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 91 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of FirstService by 49.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of FirstService in the third quarter worth approximately $66,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 141 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Stock Performance

Shares of FirstService stock opened at $186.16 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $8.40 billion, a P/E ratio of 77.57 and a beta of 1.05. The business has a fifty day simple moving average of $183.91 and a two-hundred day simple moving average of $168.43. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $192.71.

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

FirstService Dividend Announcement

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

Analyst Ratings Changes

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