FirstService Corporation (NASDAQ:FSV) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 53.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,351 shares of the financial services provider's stock after selling 2,723 shares during the quarter. DAVENPORT & Co LLC's holdings in FirstService were worth $390,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Copeland Capital Management LLC increased its position in shares of FirstService by 7.2% during the first quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider's stock worth $63,534,000 after acquiring an additional 25,829 shares during the last quarter. Bessemer Group Inc. increased its holdings in FirstService by 6.6% during the 1st quarter. Bessemer Group Inc. now owns 166,205 shares of the financial services provider's stock worth $27,582,000 after purchasing an additional 10,244 shares during the last quarter. Spire Wealth Management increased its holdings in FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after purchasing an additional 186 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of FirstService in the 1st quarter valued at approximately $360,000. Finally, Vista Finance LLC raised its position in shares of FirstService by 7.0% in the 1st quarter. Vista Finance LLC now owns 2,000 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Stock Performance

Shares of FirstService stock traded down $0.78 during trading hours on Friday, reaching $177.94. The company's stock had a trading volume of 115,109 shares, compared to its average volume of 112,152. FirstService Corporation has a one year low of $153.13 and a one year high of $197.84. The company's 50 day simple moving average is $175.66 and its 200 day simple moving average is $174.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.94 and a current ratio of 1.94. The stock has a market cap of $8.09 billion, a P/E ratio of 61.57 and a beta of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. FirstService had a net margin of 2.46% and a return on equity of 17.49%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business posted $0.67 EPS. The company's quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts expect that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were issued a $0.275 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.62%. FirstService's dividend payout ratio (DPR) is presently 38.06%.

Wall Street Analysts Forecast Growth

FSV has been the topic of a number of recent analyst reports. Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Scotiabank cut their target price on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 17th. Finally, TD Securities lifted their price target on FirstService from $198.00 to $200.00 and gave the stock a "hold" rating in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, FirstService currently has an average rating of "Moderate Buy" and a consensus price target of $208.40.

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.