PNC Financial Services Group Inc. Sells 76 Shares of FirstService Co. (NASDAQ:FSV)

PNC Financial Services Group Inc. cut its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,695 shares of the financial services provider’s stock after selling 76 shares during the quarter. PNC Financial Services Group Inc.’s holdings in FirstService were worth $1,769,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FSV. Blue Trust Inc. raised its stake in FirstService by 8,066.7% during the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after buying an additional 242 shares during the period. Benjamin Edwards Inc. raised its position in shares of FirstService by 35.0% during 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 period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of FirstService in the 3rd quarter valued at approximately $66,000. Finally, First Horizon Advisors Inc. increased its stake in FirstService by 40.6% during the 2nd 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 in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FSV shares. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Scotiabank boosted their price objective on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. TD Securities upped their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus lifted their price target on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.33.

FirstService Stock Down 1.5 %

FirstService stock opened at $194.04 on Wednesday. The company has a fifty day simple moving average of $185.14 and a 200 day simple moving average of $170.09. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $197.84. The company has a market cap of $8.76 billion, a P/E ratio of 80.85 and a beta of 1.05.

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 the consensus estimate of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned $1.18 EPS. FirstService’s revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts anticipate 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. Shareholders of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s dividend payout ratio (DPR) is 41.67%.

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.