FirstService (NASDAQ:FSV) Sees Strong Trading Volume

Shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) saw an uptick in trading volume on Wednesday . 51,981 shares changed hands during trading, a decline of 37% from the previous session’s volume of 82,460 shares.The stock last traded at $179.10 and had previously closed at $178.75.

Wall Street Analysts Forecast Growth

FSV has been the subject of a number of research analyst reports. Royal Bank of Canada upped 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. BMO Capital Markets raised their price objective on FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. TD Securities boosted their price objective on FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Scotiabank raised their target price on FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.50.

FirstService Price Performance

The stock has a fifty day moving average of $172.53 and a two-hundred day moving average of $160.93. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 88.49 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business earned $1.37 earnings per share. FirstService’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that FirstService Co. will post 4.32 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Monday, September 30th. FirstService’s dividend payout ratio is presently 49.50%.

Institutional Trading of FirstService

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of FirstService by 240.9% in the 4th quarter. BNP Paribas Financial Markets now owns 7,773 shares of the financial services provider’s stock valued at $1,260,000 after buying an additional 5,493 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of FirstService by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 158,577 shares of the financial services provider’s stock worth $25,704,000 after purchasing an additional 2,106 shares during the period. Norges Bank bought a new position in shares of FirstService during the 4th quarter valued at about $82,488,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of FirstService by 411.5% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 7,621 shares of the financial services provider’s stock valued at $1,235,000 after purchasing an additional 6,131 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in FirstService by 11.5% during the 4th quarter. Wells Fargo & Company MN now owns 77,743 shares of the financial services provider’s stock worth $12,606,000 after purchasing an additional 8,030 shares in the last quarter. 69.35% of the stock is owned by institutional investors.

FirstService Company 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.