FirstService Co. (NASDAQ:FSV) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in FirstService Co. (NASDAQ:FSVGet Rating) (TSE:FSV) by 13.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,086 shares of the financial services provider’s stock after selling 5,629 shares during the period. Truist Financial Corp owned 0.08% of FirstService worth $4,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FSV. Wipfli Financial Advisors LLC acquired a new position in FirstService in the third quarter valued at approximately $40,000. Fenimore Asset Management Inc. boosted its stake in FirstService by 2.3% in the third quarter. Fenimore Asset Management Inc. now owns 90,145 shares of the financial services provider’s stock valued at $10,728,000 after acquiring an additional 2,030 shares during the period. Raymond James & Associates boosted its stake in FirstService by 9.8% in the third quarter. Raymond James & Associates now owns 100,977 shares of the financial services provider’s stock valued at $12,017,000 after acquiring an additional 9,054 shares during the period. Pembroke Management LTD acquired a new position in FirstService in the third quarter valued at approximately $309,000. Finally, Conestoga Capital Advisors LLC boosted its stake in FirstService by 1.9% in the third quarter. Conestoga Capital Advisors LLC now owns 1,328,106 shares of the financial services provider’s stock valued at $158,058,000 after acquiring an additional 25,300 shares during the period. 72.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on FirstService in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $152.67.

FirstService Stock Performance

FSV opened at $139.64 on Friday. The business’s 50 day moving average is $125.44 and its 200-day moving average is $125.90. The stock has a market cap of $6.17 billion, a PE ratio of 54.33 and a beta of 0.98. 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 Co. has a twelve month low of $112.44 and a twelve month high of $169.18.

FirstService (NASDAQ:FSVGet Rating) (TSE:FSV) last released its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The business had revenue of $960.46 million for the quarter, compared to the consensus estimate of $941.44 million. FirstService had a net margin of 3.18% and a return on equity of 15.37%. On average, analysts predict that FirstService Co. will post 3.93 earnings per share for the current year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 30th were issued a dividend of $0.2025 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.81 annualized dividend and a yield of 0.58%. FirstService’s payout ratio is 31.52%.

About FirstService

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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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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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