Dearborn Partners LLC Trims Stock Holdings in FirstService Co. (NASDAQ:FSV)

Dearborn Partners LLC lowered its position in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 73.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,627 shares of the financial services provider's stock after selling 4,509 shares during the quarter. Dearborn Partners LLC's holdings in FirstService were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in FirstService by 8,066.7% in the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider's stock valued at $41,000 after buying an additional 242 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of FirstService by 35.0% during the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider's stock worth $53,000 after purchasing an additional 91 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of FirstService by 49.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider's stock worth $63,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of FirstService during the third quarter worth approximately $66,000. Finally, First Horizon Advisors Inc. raised its stake in shares of FirstService by 40.6% during the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider's stock worth $74,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Price Performance

FSV stock traded up $0.90 on Friday, reaching $186.16. 171,382 shares of the company's stock were exchanged, compared to its average volume of 83,224. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. The firm has a market cap of $8.40 billion, a PE ratio of 77.57 and a beta of 1.05. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $192.71. The stock has a fifty day moving average of $183.91 and a 200-day moving average of $168.28.

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

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 0.54%. FirstService's dividend payout ratio is currently 41.67%.

Wall Street Analyst Weigh In

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

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.