Harbor Capital Advisors Inc. Sells 9,863 Shares of FirstService Co. (NASDAQ:FSV)

Harbor Capital Advisors Inc. decreased its position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 51.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,488 shares of the financial services provider's stock after selling 9,863 shares during the period. Harbor Capital Advisors Inc.'s holdings in FirstService were worth $1,575,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in shares of FirstService by 57.4% during the 4th quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider's stock valued at $83,138,000 after purchasing an additional 166,996 shares during the period. Northern Trust Corp increased its stake in FirstService by 41.7% in the 4th quarter. Northern Trust Corp now owns 64,496 shares of the financial services provider's stock worth $11,675,000 after buying an additional 18,977 shares in the last quarter. Fiera Capital Corp raised its holdings in FirstService by 24.1% during the fourth quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider's stock valued at $46,839,000 after acquiring an additional 50,265 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of FirstService in the fourth quarter valued at about $308,000. Finally, Millennium Management LLC lifted its position in shares of FirstService by 130.6% in the fourth quarter. Millennium Management LLC now owns 27,090 shares of the financial services provider's stock valued at $4,904,000 after acquiring an additional 15,343 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

Analyst Upgrades and Downgrades

FSV has been the subject of several research analyst reports. 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 increased their price objective on shares of FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of 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 three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $208.40.

FirstService Price Performance

Shares of NASDAQ:FSV traded down $1.59 during mid-day trading on Friday, reaching $176.74. The stock had a trading volume of 90,751 shares, compared to its average volume of 108,354. The business's 50 day moving average price is $173.07 and its 200 day moving average price is $176.62. FirstService Co. has a 1 year low of $148.43 and a 1 year high of $197.84. The company has a market cap of $8.03 billion, a P/E ratio of 59.51 and a beta of 1.01. 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 released its quarterly earnings data 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 company's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. Research analysts expect that FirstService Co. will post 5.27 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Monday, June 30th. FirstService's payout ratio is 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.