Nexus Investment Management ULC Decreases Stock Holdings in FirstService Co. (NASDAQ:FSV)

Nexus Investment Management ULC trimmed its holdings in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 82.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the financial services provider's stock after selling 9,495 shares during the period. Nexus Investment Management ULC's holdings in FirstService were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in FSV. Natixis raised its position in shares of FirstService by 5,511.1% during the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after buying an additional 496 shares in the last quarter. State of Wyoming purchased a new stake in shares of FirstService in the fourth quarter worth approximately $101,000. Blue Trust Inc. raised its holdings in shares of FirstService by 158.2% in the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock worth $133,000 after buying an additional 446 shares during the period. Gitterman Wealth Management LLC purchased a new position in shares of FirstService during the fourth quarter worth approximately $201,000. Finally, Two Sigma Advisers LP purchased a new position in shares of FirstService during the fourth quarter worth approximately $201,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. TD Securities lifted their price target on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, May 7th. Wall Street Zen lowered shares of FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, Scotiabank lowered their price target on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, FirstService has a consensus rating of "Moderate Buy" and a consensus price target of $206.33.

FirstService Price Performance

FSV traded down $0.54 during trading on Tuesday, reaching $174.64. The company's stock had a trading volume of 36,302 shares, compared to its average volume of 108,776. FirstService Co. has a 1 year low of $146.68 and a 1 year high of $197.84. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 58.80 and a beta of 1.04. 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 firm has a fifty day simple moving average of $171.34 and a two-hundred day simple moving average of $177.16.

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

FirstService Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th will be given 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 payout ratio is presently 38.06%.

FirstService Company 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.