FirstService Co. (NASDAQ:FSV) Shares Sold by Focus Partners Wealth

Focus Partners Wealth decreased its stake in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 72.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,246 shares of the financial services provider's stock after selling 416,477 shares during the quarter. Focus Partners Wealth owned approximately 0.35% of FirstService worth $28,284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JCIC Asset Management Inc. acquired a new position in shares of FirstService in the fourth quarter worth about $3,999,000. Argent Capital Management LLC raised its holdings in FirstService by 16.0% in the 4th quarter. Argent Capital Management LLC now owns 33,406 shares of the financial services provider's stock worth $6,047,000 after purchasing an additional 4,611 shares during the period. Avanza Fonder AB purchased a new position in FirstService during the fourth quarter worth approximately $453,000. Canoe Financial LP grew its holdings in FirstService by 1,451.8% in the fourth quarter. Canoe Financial LP now owns 29,018 shares of the financial services provider's stock valued at $5,253,000 after purchasing an additional 27,148 shares during the period. Finally, Trust Co. of Vermont purchased a new stake in shares of FirstService in the fourth quarter valued at approximately $46,000. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Price Performance

NASDAQ FSV traded up $3.90 during trading hours on Thursday, hitting $175.61. 118,535 shares of the company's stock traded hands, compared to its average volume of 110,074. The company has a market capitalization of $7.98 billion, a PE ratio of 59.13 and a beta of 1.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $197.84. The firm's 50-day moving average is $169.55 and its 200-day moving average is $178.41.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business earned $0.67 earnings per share. The business's revenue was up 8.0% compared to the same quarter last year. Equities analysts forecast that FirstService Co. will post 5.27 EPS for the current fiscal 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 issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.63%. FirstService's dividend payout ratio is presently 38.06%.

Analyst Ratings Changes

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

About FirstService

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.