Vanguard Group Inc. Sells 4,057 Shares of FirstService Co. (NASDAQ:FSV)

Vanguard Group Inc. lowered its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,578,280 shares of the financial services provider’s stock after selling 4,057 shares during the quarter. Vanguard Group Inc.’s holdings in FirstService were worth $255,823,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of FirstService in the 4th quarter valued at $82,488,000. Goldman Sachs Group Inc. boosted its position in FirstService by 245.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 338,104 shares of the financial services provider’s stock valued at $54,803,000 after buying an additional 240,303 shares in the last quarter. Clearbridge Investments LLC bought a new stake in FirstService during the fourth quarter worth about $38,318,000. LM Advisors LLC acquired a new stake in shares of FirstService during the fourth quarter worth approximately $15,557,000. Finally, Royal Bank of Canada raised its stake in shares of FirstService by 8.2% in the third quarter. Royal Bank of Canada now owns 699,088 shares of the financial services provider’s stock valued at $101,744,000 after acquiring an additional 53,041 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BMO Capital Markets raised their target price on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Scotiabank initiated coverage on shares of FirstService in a research report on Thursday, April 11th. They issued a “sector perform” rating and a $170.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $186.60.

FirstService Trading Up 0.4 %

FSV stock opened at $152.37 on Monday. 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 Co. has a twelve month low of $134.77 and a twelve month high of $171.94. The company has a market cap of $6.85 billion, a P/E ratio of 75.43 and a beta of 1.04. The business has a fifty day moving average of $149.55 and a 200-day moving average of $158.33.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). FirstService had a net margin of 2.02% and a return on equity of 16.42%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. As a group, equities research analysts expect that FirstService Co. will post 4.31 EPS for the current year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, June 28th. FirstService’s dividend payout ratio is presently 49.50%.

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.