Mackenzie Financial Corp Has $145.64 Million Holdings in FirstService Co. (NASDAQ:FSV)

Mackenzie Financial Corp decreased its position in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 27.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 804,877 shares of the financial services provider's stock after selling 308,342 shares during the period. Mackenzie Financial Corp owned about 1.78% of FirstService worth $145,644,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Natixis grew its stake in shares of FirstService by 5,511.1% in the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 496 shares during the period. State of Wyoming bought a new stake in shares of FirstService in the 4th quarter valued at approximately $101,000. Blue Trust Inc. grew its stake in shares of FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 446 shares during the period. Gitterman Wealth Management LLC bought a new stake in shares of FirstService in the 4th quarter valued at approximately $201,000. Finally, Two Sigma Advisers LP bought a new stake in shares of FirstService in the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Trading Down 0.4%

Shares of FSV traded down $0.71 on Wednesday, reaching $175.40. 68,490 shares of the company's stock were exchanged, compared to its average volume of 109,631. The business has a 50 day moving average price of $171.13 and a two-hundred day moving average price of $177.51. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84. The stock has a market capitalization of $7.97 billion, a P/E ratio of 59.06 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 posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.08. The company 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 firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 EPS. Research analysts anticipate that FirstService Co. will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, June 30th. FirstService's dividend payout ratio (DPR) is currently 38.06%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FSV. Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Raymond James increased their price target on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Scotiabank decreased their price target 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, TD Securities increased their price target on FirstService from $198.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $206.33.

FirstService 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.