FirstService Co. (NASDAQ:FSV) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 324,623 shares of the financial services provider’s stock after selling 3,197 shares during the quarter. Bank of Montreal Can’s holdings in FirstService were worth $49,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Accent Capital Management LLC acquired a new stake in shares of FirstService in the fourth quarter worth $40,000. Blue Trust Inc. boosted 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 period. Benjamin Edwards Inc. increased its holdings in FirstService by 35.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 91 shares in the last quarter. Gulf International Bank UK Ltd raised its position in FirstService by 25.9% in the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 75 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of FirstService by 49.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FSV. TD Securities increased their target price on FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada increased their price objective on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Scotiabank boosted their target price on shares of FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets raised their price target on shares of FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.50.

FirstService Stock Performance

Shares of FSV opened at $181.45 on Thursday. FirstService Co. has a 52-week low of $134.77 and a 52-week high of $183.46. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.23. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 89.83 and a beta of 1.05. The business’s 50 day moving average is $174.87 and its two-hundred day moving average is $161.63.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 EPS. Analysts forecast that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, September 30th. FirstService’s dividend payout ratio is currently 49.51%.

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.