Cubist Systematic Strategies LLC Lowers Stock Holdings in FirstService Co. (NASDAQ:FSV)

Cubist Systematic Strategies LLC reduced its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,151 shares of the financial services provider’s stock after selling 282 shares during the period. Cubist Systematic Strategies LLC’s holdings in FirstService were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. increased its position in shares of FirstService by 20.0% during the second quarter. PenderFund Capital Management Ltd. now owns 1,200 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 200 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in FirstService in the 3rd quarter valued at approximately $229,000. Marco Investment Management LLC purchased a new stake in FirstService in the 3rd quarter valued at approximately $235,000. Guardian Capital Advisors LP purchased a new stake in FirstService in the 3rd quarter valued at approximately $251,000. Finally, LPL Financial LLC purchased a new stake in FirstService in the 3rd quarter valued at approximately $279,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

Shares of FSV stock opened at $136.76 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.35 and a current ratio of 1.35. FirstService Co. has a one year low of $57.38 and a one year high of $145.84. The company’s 50-day simple moving average is $134.32 and its 200-day simple moving average is $124.09. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 82.89 and a beta of 0.93.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.41. The firm had revenue of $741.90 million for the quarter, compared to analyst estimates of $685.55 million. FirstService had a net margin of 2.64% and a return on equity of 13.48%. FirstService’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. As a group, research analysts forecast that FirstService Co. will post 1.93 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Thursday, December 31st will be paid a $0.165 dividend. The ex-dividend date is Wednesday, December 30th. This represents a $0.66 annualized dividend and a dividend yield of 0.48%. FirstService’s payout ratio is currently -10.14%.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered FirstService from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Scotiabank upped their target price on FirstService from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. Raymond James boosted their price target on FirstService from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. BidaskClub upgraded FirstService from a “hold” rating to a “buy” rating in a report on Wednesday, December 23rd. Finally, ValuEngine downgraded FirstService from a “buy” rating to a “hold” rating in a report on Thursday, November 5th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. FirstService has a consensus rating of “Buy” and an average price target of $130.14.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management 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.

Featured Article: Market Timing

Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

Receive News & Ratings for FirstService Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstService and related companies with MarketBeat.com's FREE daily email newsletter.