Charles Schwab Investment Management Inc. Cuts Stock Holdings in FirstService Co. (NASDAQ:FSV)

Charles Schwab Investment Management Inc. decreased its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,541 shares of the financial services provider’s stock after selling 2,748 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.20% of FirstService worth $16,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in FirstService by 8,066.7% in the second 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. Benjamin Edwards Inc. boosted its holdings in FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 91 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in FirstService in the third quarter worth approximately $66,000. Benjamin F. Edwards & Company Inc. boosted its holdings in FirstService by 49.6% in 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 during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Down 1.1 %

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

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.42 by $0.21. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business posted $1.18 EPS. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. Sell-side analysts expect that FirstService Co. will post 4.58 EPS for the current fiscal year.

FirstService Announces Dividend

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

Wall Street Analysts Forecast Growth

FSV has been the topic of several research reports. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Scotiabank increased their price target 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 increased their price target 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. Finally, TD Securities increased their price target on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.33.

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.