Nuveen Asset Management LLC Trims Stock Holdings in FirstService Co. (NASDAQ:FSV)

Nuveen Asset Management LLC cut its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 34,086 shares of the financial services provider’s stock after selling 201 shares during the period. Nuveen Asset Management LLC’s holdings in FirstService were worth $6,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FSV. Berry Wealth Group LP raised its position in FirstService by 5.4% in the fourth quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 91 shares in the last quarter. Signaturefd LLC boosted its stake in shares of FirstService by 7.5% during the fourth quarter. Signaturefd LLC now owns 1,363 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 95 shares during the last quarter. Stifel Financial Corp boosted its stake in FirstService by 0.5% in the 4th quarter. Stifel Financial Corp now owns 21,205 shares of the financial services provider’s stock worth $3,838,000 after buying an additional 102 shares during the last quarter. Advisors Capital Management LLC boosted its stake in FirstService by 1.0% in the 4th quarter. Advisors Capital Management LLC now owns 22,555 shares of the financial services provider’s stock worth $4,083,000 after buying an additional 233 shares during the last quarter. Finally, Mariner LLC boosted its stake in FirstService by 20.4% in the 4th quarter. Mariner LLC now owns 2,560 shares of the financial services provider’s stock worth $464,000 after buying an additional 433 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Trading Up 0.1%

NASDAQ:FSV opened at $175.94 on Friday. FirstService Co. has a 12-month low of $143.69 and a 12-month high of $197.84. The firm has a market capitalization of $8.00 billion, a P/E ratio of 59.24 and a beta of 1.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. The business has a 50 day simple moving average of $171.27 and a 200 day simple moving average of $177.36.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. FirstService had a return on equity of 17.15% and a net margin of 2.58%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts predict that FirstService Co. will post 5.27 EPS for the current year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th will be given a dividend of $0.275 per share. The ex-dividend date is Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.63%. FirstService’s dividend payout ratio (DPR) is presently 38.06%.

Analyst Ratings Changes

Several research firms have recently weighed in on FSV. Wall Street Zen lowered FirstService from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. TD Securities lifted their price objective on FirstService from $198.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, May 7th. Finally, Scotiabank dropped their price objective on FirstService from $217.50 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $206.33.

About FirstService

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.