Shell Asset Management Co. Sells 151 Shares of FirstService Co. (NASDAQ:FSV)

Shell Asset Management Co. decreased its stake in shares of FirstService Co. (NASDAQ:FSVFree Report) (TSE:FSV) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,733 shares of the financial services provider’s stock after selling 151 shares during the period. Shell Asset Management Co.’s holdings in FirstService were worth $838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Barometer Capital Management Inc. lifted its position in FirstService by 20.0% during the 3rd quarter. Barometer Capital Management Inc. now owns 5,400 shares of the financial services provider’s stock worth $786,000 after buying an additional 900 shares in the last quarter. Pembroke Management LTD raised its holdings in FirstService by 6.8% during the 3rd quarter. Pembroke Management LTD now owns 4,109 shares of the financial services provider’s stock worth $598,000 after purchasing an additional 263 shares during the last quarter. Knowledge Leaders Capital LLC bought a new stake in FirstService during the 3rd quarter worth about $1,505,000. NBC Securities Inc. bought a new stake in FirstService during the 3rd quarter worth about $582,000. Finally, Signaturefd LLC raised its holdings in FirstService by 28.5% during the 3rd quarter. Signaturefd LLC now owns 500 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 69.49% of the company’s stock.

FirstService Stock Up 0.2 %

FSV opened at $166.32 on Friday. FirstService Co. has a 1-year low of $131.75 and a 1-year high of $171.94. The stock’s fifty day simple moving average is $163.11 and its 200 day simple moving average is $154.01. The company has a current ratio of 1.78, a quick ratio of 1.90 and a debt-to-equity ratio of 1.15. The stock has a market cap of $7.42 billion, a PE ratio of 74.25 and a beta of 1.00.

FirstService Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 29th will be given a dividend of $0.25 per share. This is a boost from FirstService’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 0.60%. FirstService’s dividend payout ratio (DPR) is presently 40.18%.

Analyst Ratings Changes

Several analysts have weighed in on FSV shares. Raymond James boosted their price objective on FirstService from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. BMO Capital Markets lowered their target price on FirstService from $196.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday. Scotiabank increased their target price on FirstService from $165.00 to $166.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. TheStreet cut FirstService from a “b-” rating to a “c” rating in a research note on Tuesday. Finally, StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.29.

View Our Latest Analysis on FirstService

About FirstService

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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