Harbor Capital Advisors Inc. Decreases Position in FirstService Co. (NASDAQ:FSV)

Harbor Capital Advisors Inc. decreased its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 51.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,488 shares of the financial services provider’s stock after selling 9,863 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in FirstService were worth $1,575,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of FSV. Natixis grew its position in shares of FirstService by 5,511.1% in the 4th quarter. Natixis now owns 505 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 496 shares in the last quarter. State of Wyoming purchased a new position in shares of FirstService during the fourth quarter valued at $101,000. Gitterman Wealth Management LLC purchased a new position in shares of FirstService during the 4th quarter valued at $201,000. Two Sigma Advisers LP acquired a new stake in shares of FirstService in the 4th quarter valued at $201,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of FirstService in the fourth quarter worth $218,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Up 0.2%

Shares of NASDAQ FSV opened at $178.33 on Friday. The firm has a 50 day moving average price of $173.07 and a 200 day moving average price of $176.62. The stock has a market cap of $8.10 billion, a P/E ratio of 60.04 and a beta of 1.01. FirstService Co. has a 52-week low of $148.43 and a 52-week high of $197.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75.

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 for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.28 billion. FirstService had a net margin of 2.58% and a return on equity of 17.15%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Analysts expect that FirstService Co. will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.62%. FirstService’s dividend payout ratio (DPR) is presently 38.06%.

Analysts Set New Price Targets

Several analysts have issued reports on FSV shares. Wall Street Zen lowered shares of FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Scotiabank lowered their target price on FirstService from $217.50 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, April 17th. Finally, TD Securities boosted their price objective on shares of FirstService from $198.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

FirstService Company 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.