FirstService Co. (NASDAQ:FSV) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in FirstService Co. (NASDAQ:FSV – Get Rating) (TSE:FSV) by 26.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,588 shares of the financial services provider’s stock after selling 7,711 shares during the quarter. Hsbc Holdings PLC’s holdings in FirstService were worth $2,586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp boosted its stake in shares of FirstService by 365.0% in the second quarter. Mackenzie Financial Corp now owns 854,493 shares of the financial services provider’s stock valued at $103,652,000 after buying an additional 670,727 shares in the last quarter. Bank of Montreal Can boosted its holdings 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 buying an additional 288,924 shares in the last quarter. Durable Capital Partners LP grew its position in FirstService by 7.6% during the first quarter. Durable Capital Partners LP now owns 3,391,256 shares of the financial services provider’s stock worth $491,325,000 after buying an additional 238,980 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of FirstService by 6.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,022,330 shares of the financial services provider’s stock valued at $479,425,000 after acquiring an additional 226,966 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in FirstService in the second quarter valued at $16,265,000. Institutional investors and hedge funds own 72.57% of the company’s stock.

Wall Street Analysts Forecast Growth

FSV has been the subject of a number of recent research reports. Raymond James lifted their price objective on FirstService from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. TheStreet raised shares of FirstService from a “c+” rating to a “b-” rating in a research report on Tuesday, February 7th. BMO Capital Markets raised their price objective on FirstService from $142.00 to $161.00 and gave the stock a “market perform” rating in a report on Wednesday, February 8th. Finally, TD Securities boosted their price objective on shares of FirstService from $140.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, February 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, FirstService currently has a consensus rating of “Hold” and an average price target of $154.75.

FirstService Stock Performance

Shares of FSV stock opened at $137.88 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average of $135.63 and a two-hundred day moving average of $128.54. The company has a market cap of $6.10 billion, a P/E ratio of 50.51 and a beta of 1.04. FirstService Co. has a 52 week low of $112.44 and a 52 week high of $148.70.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 11th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.65%. This is a positive change from FirstService’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, March 30th. FirstService’s dividend payout ratio (DPR) is 29.67%.

About FirstService

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FirstService Corp. engages in the provision of property services. It operates through the FirstService Residential and FirstService Brands segments. The FirstService Residential segment offers residential property management services in North America. The FirstService Brands segment covers residential and commercial customers through both franchise systems, and company-owned operations.