FirstService Co. (NASDAQ:FSV) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 290,739 shares of the financial services provider's stock after selling 14,214 shares during the quarter. CIBC Asset Management Inc owned approximately 0.64% of FirstService worth $53,143,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Benjamin Edwards Inc. raised its position in shares of FirstService by 35.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider's stock worth $53,000 after acquiring an additional 91 shares in the last quarter. Fifth Third Bancorp grew its position in shares of FirstService by 20.5% in the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider's stock worth $97,000 after buying an additional 108 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider's stock worth $63,000 after acquiring an additional 138 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 141 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in FirstService by 3.7% in the second quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider's stock worth $616,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 69.35% of the company's stock.

FirstService Trading Up 1.1 %

Shares of FSV traded up $1.97 during midday trading on Friday, hitting $187.23. 60,716 shares of the stock were exchanged, compared to its average volume of 82,725. The stock has a fifty day simple moving average of $183.74 and a 200 day simple moving average of $167.87. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $192.71. The firm has a market cap of $8.45 billion, a P/E ratio of 77.19 and a beta of 1.05.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.21. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The company's quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. On average, research analysts anticipate that FirstService Co. will post 4.58 EPS for the current fiscal year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, September 30th. FirstService's dividend payout ratio (DPR) is presently 41.67%.

Analysts Set New Price Targets

Several research firms have weighed in on FSV. Royal Bank of Canada boosted their target price on shares of FirstService from $187.00 to $192.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. TD Securities boosted their target price on shares of FirstService from $179.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, October 17th. Stifel Nicolaus boosted their target price on shares of FirstService from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, October 21st. StockNews.com upgraded FirstService from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Finally, Scotiabank boosted their price objective on FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, FirstService has an average rating of "Moderate Buy" and a consensus target price of $198.33.

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.