1832 Asset Management L.P. Cuts Stock Position in FirstService Co. (NASDAQ:FSV)

1832 Asset Management L.P. cut its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 394,853 shares of the financial services provider’s stock after selling 15,718 shares during the quarter. 1832 Asset Management L.P. owned 0.88% of FirstService worth $65,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Quadrature Capital Ltd boosted its holdings in FirstService by 2.8% during the 1st quarter. Quadrature Capital Ltd now owns 218,800 shares of the financial services provider’s stock valued at $36,127,000 after acquiring an additional 5,900 shares during the period. Toronto Dominion Bank boosted its holdings in FirstService by 68.0% during the 1st quarter. Toronto Dominion Bank now owns 68,856 shares of the financial services provider’s stock valued at $11,416,000 after acquiring an additional 27,871 shares during the period. National Bank of Canada FI boosted its holdings in FirstService by 7.9% during the 1st quarter. National Bank of Canada FI now owns 347,338 shares of the financial services provider’s stock valued at $57,589,000 after acquiring an additional 25,353 shares during the period. Bessemer Group Inc. raised its position in FirstService by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 108,213 shares of the financial services provider’s stock valued at $17,943,000 after purchasing an additional 7,089 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in FirstService by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 600 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 300 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Up 0.7 %

Shares of FirstService stock traded up $1.26 on Friday, reaching $175.63. The company’s stock had a trading volume of 119,650 shares, compared to its average volume of 97,894. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 86.95 and a beta of 1.05. The firm’s fifty day simple moving average is $153.93 and its two-hundred day simple moving average is $158.32. FirstService Co. has a 52 week low of $134.77 and a 52 week high of $177.46. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.18.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. FirstService had a return on equity of 15.80% and a net margin of 1.73%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 EPS. Equities analysts anticipate that FirstService Co. will post 4.32 earnings per share for the current year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, June 28th. FirstService’s payout ratio is currently 49.51%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank of Canada upped their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets upped their price target on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Finally, Scotiabank increased their target price on FirstService from $170.00 to $175.00 and gave the stock a “sector perform” rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.60.

FirstService 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.