FirstService Co. (NASDAQ:FSV) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 73.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,491 shares of the financial services provider’s stock after selling 12,588 shares during the period. Jane Street Group LLC’s holdings in FirstService were worth $819,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FSV. The Manufacturers Life Insurance Company grew its stake in shares of FirstService by 6.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock worth $415,427,000 after purchasing an additional 174,970 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in FirstService by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,449,933 shares of the financial services provider’s stock valued at $264,555,000 after acquiring an additional 23,082 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of FirstService by 0.8% in the 2nd quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock valued at $131,323,000 after purchasing an additional 6,863 shares during the period. Renaissance Technologies LLC increased its stake in FirstService by 3.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider’s stock valued at $98,033,000 after buying an additional 21,100 shares during the period. Finally, Bank of Montreal Can boosted its position in FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock valued at $69,992,000 after purchasing an additional 63,807 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of FSV opened at $181.02 on Thursday. The firm has a market cap of $8.19 billion, a P/E ratio of 75.43 and a beta of 1.04. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The firm’s 50 day moving average price is $188.16 and its two-hundred day moving average price is $177.48.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data 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 return on equity of 16.68% and a net margin of 2.19%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $1.18 earnings per share. FirstService’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts forecast that FirstService Co. will post 4.58 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.55%. FirstService’s dividend payout ratio is 41.67%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FSV. TD Securities raised their target price on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, October 17th. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Scotiabank boosted their price objective on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus boosted their price target on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. Two equities 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, FirstService currently has a consensus rating of “Moderate Buy” and a consensus target price 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.