FirstService Co. (NASDAQ:FSV) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. reduced its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 394,376 shares of the financial services provider’s stock after selling 477 shares during the period. 1832 Asset Management L.P. owned 0.88% of FirstService worth $60,091,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Accent Capital Management LLC purchased a new position in shares of FirstService during the fourth quarter worth about $40,000. Blue Trust Inc. lifted 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 acquiring an additional 242 shares during the period. Benjamin Edwards Inc. grew its stake in shares of 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 during the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of 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. raised 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 during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Price Performance

FSV stock opened at $181.01 on Monday. The firm has a 50 day moving average of $173.80 and a 200-day moving average of $161.26. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 89.61 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. FirstService Co. has a 12-month low of $134.77 and a 12-month high of $182.88.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.10. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.28 billion. FirstService had a return on equity of 15.60% and a net margin of 1.73%. FirstService’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. As a group, equities analysts expect that FirstService Co. will post 4.32 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. FirstService’s dividend payout ratio is presently 49.50%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Scotiabank upped their price objective 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. BMO Capital Markets raised their price objective on shares of FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. TD Securities boosted their target price on FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada raised their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, FirstService currently has an average rating of “Moderate Buy” and a consensus target price of $189.50.

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.