Charles Schwab Investment Management Inc. Sells 2,748 Shares of FirstService Co. (NASDAQ:FSV)

Charles Schwab Investment Management Inc. lessened its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 2.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 90,541 shares of the financial services provider’s stock after selling 2,748 shares during the period. Charles Schwab Investment Management Inc.’s holdings in FirstService were worth $16,561,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cetera Advisors LLC purchased a new stake in FirstService during the 1st quarter worth approximately $311,000. NorthCrest Asset Manangement LLC grew its position in FirstService by 18.0% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 2,483 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 378 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in FirstService during the 2nd quarter worth approximately $219,000. Blue Trust Inc. grew its position in FirstService by 8,066.7% during the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 242 shares during the last quarter. Finally, Raymond James & Associates grew its position in FirstService by 16.6% during the 2nd quarter. Raymond James & Associates now owns 141,869 shares of the financial services provider’s stock worth $21,617,000 after purchasing an additional 20,180 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FSV shares. Scotiabank boosted their target price on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their target price on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, TD Securities upped their price objective on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.33.

FirstService Stock Down 1.1 %

FSV stock opened at $192.05 on Friday. The firm’s fifty day simple moving average is $187.41 and its 200-day simple moving average is $172.74. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84. The company has a market capitalization of $8.69 billion, a P/E ratio of 80.02 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.21. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm posted $1.18 earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts forecast that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Tuesday, December 31st. FirstService’s dividend payout ratio (DPR) is presently 41.67%.

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.