Royal Bank of Canada Has $113.99 Million Holdings in FirstService Co. (NASDAQ:FSV)

Royal Bank of Canada lessened its holdings in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 629,683 shares of the financial services provider's stock after selling 55,577 shares during the period. Royal Bank of Canada owned about 1.39% of FirstService worth $113,985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake 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 worth $83,138,000 after purchasing an additional 166,996 shares during the last quarter. Fiera Capital Corp increased its stake in shares of FirstService by 24.1% during the 4th quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider's stock worth $46,839,000 after purchasing an additional 50,265 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in shares of FirstService during the 4th quarter worth approximately $2,816,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of FirstService during the 4th quarter worth approximately $308,000. Finally, Jennison Associates LLC increased its stake in shares of FirstService by 686.9% during the 4th quarter. Jennison Associates LLC now owns 37,702 shares of the financial services provider's stock worth $6,827,000 after purchasing an additional 32,911 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Price Performance

Shares of FSV opened at $176.10 on Tuesday. The stock has a market cap of $8.00 billion, a PE ratio of 59.29 and a beta of 1.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The firm's 50-day simple moving average is $170.19 and its two-hundred day simple moving average is $178.03.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a net margin of 2.58% and a return on equity of 17.15%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Analysts anticipate that FirstService Co. will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.62%. FirstService's dividend payout ratio is currently 38.06%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Scotiabank reduced their price objective on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research note on Thursday, April 17th. StockNews.com lowered shares of FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Raymond James lifted their price objective on shares of FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, TD Securities lifted their price objective on shares of FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $206.33.

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.

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