Toronto Dominion Bank Trims Position in FirstService Co. (NASDAQ:FSV)

Toronto Dominion Bank reduced its holdings in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,375 shares of the financial services provider's stock after selling 7,832 shares during the quarter. Toronto Dominion Bank owned about 0.14% of FirstService worth $11,285,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of FirstService by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,794,676 shares of the financial services provider's stock worth $325,100,000 after buying an additional 23,103 shares during the last quarter. FIL Ltd grew its position in shares of FirstService by 12.0% in the 4th quarter. FIL Ltd now owns 1,057,284 shares of the financial services provider's stock worth $191,524,000 after buying an additional 113,592 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of FirstService by 53.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock worth $118,767,000 after buying an additional 229,889 shares during the last quarter. Franklin Resources Inc. grew its position in shares of FirstService by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider's stock worth $100,632,000 after buying an additional 86,909 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of FirstService in the 4th quarter worth approximately $98,615,000. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Up 0.4%

FirstService stock traded up $0.70 during mid-day trading on Friday, hitting $173.06. The company had a trading volume of 66,298 shares, compared to its average volume of 109,947. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. The stock's 50 day moving average price is $170.85 and its two-hundred day moving average price is $177.77. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84. The company has a market capitalization of $7.86 billion, a PE ratio of 58.27 and a beta of 1.04.

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

FirstService Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Monday, June 30th. FirstService's dividend payout ratio is currently 38.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FSV shares. Scotiabank dropped 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. TD Securities lifted 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. Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Raymond James boosted their target price on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.