Insider Selling: FirstService (TSE:FSV) Director Sells 3,000 Shares of Stock

Key Points

• Erin Joy Wallace, a director at FirstService, sold 3,000 shares at an average price of C$275.74, totaling C$827,214.00, which decreased her position by 23.08% to 10,000 shares.
• FirstService had a current market capitalization of C$12.98 billion and reported a PE ratio of 91.34, indicating a high valuation relative to earnings.
• TD Securities raised its target price on FirstService shares from C$211.00 to C$214.00, maintaining a "hold" rating as analysts show mixed sentiments about the stock.

FirstService Co. (TSE:FSV - Get Free Report) NASDAQ: FSV Director Erin Joy Wallace sold 3,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of C$275.74, for a total transaction of C$827,214.00. Following the sale, the director owned 10,000 shares in the company, valued at C$2,757,380. The trade was a 23.08% decrease in their ownership of the stock.

Erin Joy Wallace also recently made the following trade(s):

• On Tuesday, June 24th, Erin Joy Wallace sold 3,000 shares of FirstService stock. The stock was sold at an average price of C$241.51, for a total transaction of C$724,519.02.

FirstService Price Performance

FirstService stock traded down C$5.05 during trading hours on Friday, reaching C$283.12. 65,774 shares of the stock were exchanged, compared to its average volume of 89,694. The company has a market cap of C$12.90 billion, a P/E ratio of 90.74, a price-to-earnings-growth ratio of 107.75 and a beta of 0.95. The company has a current ratio of 1.81, a quick ratio of 1.25 and a debt-to-equity ratio of 136.54. FirstService Co. has a twelve month low of C$220.39 and a twelve month high of C$290.34. The stock has a 50 day moving average of C$267.02 and a two-hundred day moving average of C$249.82.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.4%. FirstService's dividend payout ratio (DPR) is currently 33.65%.

Analyst Upgrades and Downgrades

Separately, TD Securities increased their target price on shares of FirstService from C$211.00 to C$214.00 and gave the stock a "hold" rating in a report on Thursday, September 4th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$214.00.

About FirstService

FirstService Corp operates in two business divisions: FirstService Residential and FirstService Brands. FirstService Residential has service contracts to manage thousands of residential communities, including high-, medium-, and low-rise condominiums and co-operatives, and generates most of the company's revenue.