Royce & Associates LP trimmed its position in shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,206 shares of the financial services provider’s stock after selling 9,922 shares during the period. Royce & Associates LP owned approximately 0.59% of FirstService worth $21,418,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Thompson Investment Management Inc. grew its holdings in FirstService by 10.2% during the 4th quarter. Thompson Investment Management Inc. now owns 2,425 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 225 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in FirstService by 8.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,259 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 325 shares during the last quarter. Aigen Investment Management LP bought a new position in FirstService during the 4th quarter valued at $32,000. BB&T Securities LLC boosted its stake in FirstService by 3.0% during the 3rd quarter. BB&T Securities LLC now owns 24,149 shares of the financial services provider’s stock valued at $2,463,000 after acquiring an additional 695 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in FirstService by 40.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,737 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 794 shares during the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.
Shares of FirstService stock traded up $0.65 during trading hours on Friday, reaching $111.61. The company’s stock had a trading volume of 7,182 shares, compared to its average volume of 107,234. The company’s 50 day simple moving average is $99.68 and its 200 day simple moving average is $98.58. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.74 and a current ratio of 1.63. FirstService Corp has a one year low of $83.02 and a one year high of $112.22. The stock has a market cap of $4.36 billion, a P/E ratio of -16.65 and a beta of 0.80.
FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.27. FirstService had a negative net margin of 10.45% and a positive return on equity of 20.11%. The company had revenue of $675.60 million for the quarter, compared to the consensus estimate of $660.41 million. During the same period last year, the firm posted $0.62 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, sell-side analysts predict that FirstService Corp will post 1.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st will be given a $0.165 dividend. This is an increase from FirstService’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, March 30th. FirstService’s dividend payout ratio (DPR) is presently -9.22%.
FSV has been the topic of a number of research analyst reports. BidaskClub downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Raymond James upgraded shares of FirstService from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a research note on Wednesday, February 5th. Zacks Investment Research downgraded shares of FirstService from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. BMO Capital Markets increased their price objective on shares of FirstService from $98.00 to $99.00 and gave the company a “market perform” rating in a research note on Monday, December 16th. Finally, Royal Bank of Canada increased their price objective on shares of FirstService from $106.00 to $112.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. FirstService currently has a consensus rating of “Hold” and an average target price of $111.80.
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.
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