Cubist Systematic Strategies LLC Sells 21,409 Shares of FirstService Co. (NASDAQ:FSV)

Cubist Systematic Strategies LLC lowered its holdings in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 79.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,558 shares of the financial services provider's stock after selling 21,409 shares during the quarter. Cubist Systematic Strategies LLC's holdings in FirstService were worth $1,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berry Wealth Group LP lifted its position in shares of FirstService by 5.4% in the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider's stock worth $323,000 after acquiring an additional 91 shares during the period. Signaturefd LLC lifted its position in shares of FirstService by 7.5% in the 4th quarter. Signaturefd LLC now owns 1,363 shares of the financial services provider's stock worth $247,000 after acquiring an additional 95 shares during the period. Stifel Financial Corp lifted its position in shares of FirstService by 0.5% in the 4th quarter. Stifel Financial Corp now owns 21,205 shares of the financial services provider's stock worth $3,838,000 after acquiring an additional 102 shares during the period. Advisors Capital Management LLC lifted its position in shares of FirstService by 1.0% in the 4th quarter. Advisors Capital Management LLC now owns 22,555 shares of the financial services provider's stock worth $4,083,000 after acquiring an additional 233 shares during the period. Finally, Trust Co. of Vermont bought a new stake in shares of FirstService in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Stock Performance

Shares of FirstService stock traded down $0.19 on Tuesday, hitting $175.91. The stock had a trading volume of 6,498 shares, compared to its average volume of 109,767. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The business's 50 day moving average is $170.19 and its two-hundred day moving average is $178.03. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 59.12 and a beta of 1.04.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.08. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 17.15% and a net margin of 2.58%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share. Analysts forecast that FirstService Co. will post 5.27 EPS for the current year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, June 30th. FirstService's dividend payout ratio (DPR) is 38.06%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FSV shares. Scotiabank cut their target price on FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research report on Thursday, April 17th. TD Securities lifted their price objective on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, May 7th. StockNews.com downgraded FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Raymond James lifted their price objective on FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $206.33.

FirstService 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.