FirstService (NASDAQ:FSV) Sees Large Volume Increase

FirstService Co. (NASDAQ:FSVGet Rating) (TSE:FSV) shares saw strong trading volume on Tuesday . 1,447 shares were traded during trading, a decline of 98% from the previous session’s volume of 69,984 shares.The stock last traded at $125.51 and had previously closed at $124.92.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Securities lowered their price target on shares of FirstService from $145.00 to $140.00 and set a “hold” rating on the stock in a research report on Thursday, July 28th. StockNews.com assumed coverage on shares of FirstService in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $152.67.

FirstService Stock Performance

The stock has a market capitalization of $5.60 billion, a PE ratio of 49.26 and a beta of 0.98. The firm’s fifty day moving average is $122.46 and its 200-day moving average is $124.78. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.82.

FirstService (NASDAQ:FSVGet Rating) (TSE:FSV) last issued its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). The company had revenue of $960.46 million during the quarter, compared to analysts’ expectations of $941.44 million. FirstService had a net margin of 3.18% and a return on equity of 15.37%. As a group, research analysts anticipate that FirstService Co. will post 3.93 earnings per share for the current year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, September 30th were issued a $0.2025 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.81 annualized dividend and a yield of 0.64%. FirstService’s dividend payout ratio (DPR) is currently 31.52%.

Institutional Trading of FirstService

A number of institutional investors and hedge funds have recently bought and sold shares of FSV. The Manufacturers Life Insurance Company increased its stake in FirstService by 35.9% during the first quarter. The Manufacturers Life Insurance Company now owns 3,327,092 shares of the financial services provider’s stock worth $482,029,000 after purchasing an additional 879,160 shares during the period. Mackenzie Financial Corp increased its stake in FirstService by 365.0% during the second quarter. Mackenzie Financial Corp now owns 854,493 shares of the financial services provider’s stock worth $103,652,000 after purchasing an additional 670,727 shares during the period. Bank of Montreal Can increased its stake in FirstService by 38.8% during the third quarter. Bank of Montreal Can now owns 1,033,400 shares of the financial services provider’s stock worth $123,406,000 after purchasing an additional 288,924 shares during the period. Eaton Vance Management increased its stake in FirstService by 1,036.7% during the third quarter. Eaton Vance Management now owns 305,685 shares of the financial services provider’s stock worth $36,379,000 after purchasing an additional 278,793 shares during the period. Finally, Durable Capital Partners LP increased its stake in FirstService by 6.8% during the third quarter. Durable Capital Partners LP now owns 3,908,039 shares of the financial services provider’s stock worth $465,096,000 after purchasing an additional 247,245 shares during the period. 64.18% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Company Profile

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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. The company operates in two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment offers property management 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.

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