Nexus Investment Management ULC trimmed its holdings in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 82.6% during the first quarter, according to the company in its most recent 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 SEC filing.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in FirstService by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,794,676 shares of the financial services provider's stock worth $325,100,000 after buying an additional 23,103 shares during the last quarter. FIL Ltd boosted its position in FirstService by 12.0% during the 4th quarter. FIL Ltd now owns 1,057,284 shares of the financial services provider's stock worth $191,524,000 after acquiring an additional 113,592 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of FirstService by 53.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock valued at $118,767,000 after buying an additional 229,889 shares during the period. Franklin Resources Inc. lifted its holdings in shares of FirstService by 18.5% in the fourth quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider's stock valued at $100,632,000 after buying an additional 86,909 shares during the period. Finally, Norges Bank acquired a new stake in shares of FirstService in the fourth quarter valued at $98,615,000. 69.35% of the stock is owned by institutional investors and hedge funds.
FirstService Stock Performance
NASDAQ:FSV traded down $0.42 during mid-day trading on Monday, hitting $174.99. 78,071 shares of the company's stock traded hands, compared to its average volume of 108,941. The firm has a 50 day moving average of $171.27 and a two-hundred day moving average of $177.23. FirstService Co. has a 12 month low of $146.68 and a 12 month high of $197.84. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 58.92 and a beta of 1.04. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09.
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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $0.67 EPS. The company's quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that FirstService Co. will post 5.27 earnings per share for the current fiscal year.
FirstService Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.63%. FirstService's payout ratio is presently 38.06%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on FSV. TD Securities upped their target price on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, May 7th. Scotiabank dropped their target price on FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 17th. Finally, Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $206.33.
Read Our Latest Stock Analysis on FirstService
About FirstService
(
Free Report)
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.
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