Massachusetts Financial Services Co. MA Sells 1,865 Shares of FirstService Corporation (NASDAQ:FSV)

Massachusetts Financial Services Co. MA trimmed its position in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 1.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,038 shares of the financial services provider's stock after selling 1,865 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.27% of FirstService worth $20,086,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Diversify Wealth Management LLC grew its holdings in FirstService by 4.4% in the 1st quarter. Diversify Wealth Management LLC now owns 2,127 shares of the financial services provider's stock valued at $366,000 after buying an additional 89 shares in the last quarter. Signaturefd LLC grew its holdings in FirstService by 7.5% in the 4th quarter. Signaturefd LLC now owns 1,363 shares of the financial services provider's stock valued at $247,000 after buying an additional 95 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of FirstService by 0.5% in the 4th quarter. Stifel Financial Corp now owns 21,205 shares of the financial services provider's stock valued at $3,838,000 after purchasing an additional 102 shares during the last quarter. Vista Finance LLC lifted its stake 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 during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of FirstService by 23.0% in the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock valued at $128,000 after purchasing an additional 144 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Up 1.3%

NASDAQ FSV traded up $2.35 on Friday, hitting $178.12. 175,513 shares of the stock traded hands, compared to its average volume of 112,473. The stock has a 50-day moving average of $176.03 and a 200 day moving average of $174.44. FirstService Corporation has a twelve month low of $153.13 and a twelve month high of $197.84. The company has a market capitalization of $8.10 billion, a P/E ratio of 61.63 and a beta of 0.99. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.09.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share 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 analysts' expectations of $1.28 billion. FirstService had a return on equity of 17.49% and a net margin of 2.46%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. As a group, analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on FSV. TD Securities increased their price target on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, May 7th. Scotiabank dropped their price target 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. Finally, Wall Street Zen downgraded FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.