State of New Jersey Common Pension Fund D Cuts Stock Position in FirstService Co. (NASDAQ:FSV)

State of New Jersey Common Pension Fund D lessened its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 17.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,112 shares of the financial services provider’s stock after selling 1,965 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in FirstService were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FSV. Stevens Capital Management LP bought a new position in FirstService during the fourth quarter valued at about $370,000. Jennison Associates LLC grew its position in shares of FirstService by 4.6% during the 4th quarter. Jennison Associates LLC now owns 5,081 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 223 shares during the period. Signaturefd LLC increased its stake in shares of FirstService by 20.6% during the 4th quarter. Signaturefd LLC now owns 603 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 103 shares during the last quarter. Duncker Streett & Co. Inc. lifted its stake in FirstService by 335.8% in the fourth quarter. Duncker Streett & Co. Inc. now owns 706 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 544 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in FirstService by 20.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,922 shares of the financial services provider’s stock valued at $2,917,000 after purchasing an additional 3,080 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Trading Down 0.3 %

Shares of FirstService stock opened at $146.55 on Thursday. The company’s 50-day moving average price is $160.55 and its 200-day moving average price is $158.47. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 72.55 and a beta of 0.97. FirstService Co. has a 12-month low of $134.77 and a 12-month high of $171.94. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.89.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. FirstService had a net margin of 2.02% and a return on equity of 15.16%. On average, equities analysts expect that FirstService Co. will post 4.38 earnings per share for the current fiscal year.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 29th were issued a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 0.68%. This is a boost from FirstService’s previous quarterly dividend of $0.23. FirstService’s dividend payout ratio (DPR) is presently 49.51%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TheStreet lowered FirstService from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 price objective on shares of FirstService in a report on Wednesday, February 7th. BMO Capital Markets reduced their target price on shares of FirstService from $196.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Raymond James upped their price target on shares of FirstService from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Scotiabank started coverage on shares of FirstService in a research note on Thursday, April 11th. They issued a “sector perform” rating and a $170.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.00.

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.