FirstService Co. (NASDAQ:FSV) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia decreased its stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 53.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,853 shares of the financial services provider's stock after selling 226,385 shares during the quarter. Bank of Nova Scotia owned about 0.44% of FirstService worth $36,015,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Berry Wealth Group LP increased its holdings in FirstService by 5.4% in the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider's stock worth $323,000 after buying an additional 91 shares during the period. Signaturefd LLC boosted its holdings in shares of FirstService by 7.5% in the 4th 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. HighTower Advisors LLC increased its stake in shares of FirstService by 3.5% in the third quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider's stock worth $533,000 after acquiring an additional 98 shares during the period. Versant Capital Management Inc purchased a new position in shares of FirstService during the fourth quarter worth $29,000. Finally, Trust Co. of Vermont acquired a new position in FirstService during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Stock Performance

FSV traded up $1.67 on Monday, reaching $168.21. The stock had a trading volume of 33,602 shares, compared to its average volume of 107,195. The business's 50-day moving average price is $170.36 and its two-hundred day moving average price is $180.08. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The company has a market cap of $7.64 billion, a P/E ratio of 56.64 and a beta of 1.04.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were issued a $0.275 dividend. This is a boost from FirstService's previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a yield of 0.65%. FirstService's dividend payout ratio is presently 37.04%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com downgraded FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Raymond James upped their target price on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, FirstService has an average rating of "Moderate Buy" and a consensus target price of $201.67.

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.