Renaissance Technologies LLC Sells 37,000 Shares of FirstService Co. (NASDAQ:FSV)

Renaissance Technologies LLC lessened its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 591,488 shares of the financial services provider's stock after selling 37,000 shares during the quarter. Renaissance Technologies LLC owned about 1.31% of FirstService worth $107,071,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FSV. Versant Capital Management Inc purchased a new stake in FirstService during the 4th quarter worth about $29,000. Trust Co. of Vermont bought a new position in shares of FirstService in the fourth quarter valued at approximately $46,000. Wilmington Savings Fund Society FSB purchased a new position in FirstService during the third quarter valued at approximately $53,000. Blue Trust Inc. increased its holdings in FirstService by 158.2% during the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock worth $133,000 after acquiring an additional 446 shares during the period. Finally, Gitterman Wealth Management LLC purchased a new stake in FirstService in the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Price Performance

Shares of FirstService stock traded up $1.67 during trading on Monday, hitting $168.21. 33,602 shares of the stock traded hands, compared to its average volume of 107,195. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 56.64 and a beta of 1.04. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. The firm's fifty day moving average is $170.36 and its 200-day moving average is $180.08.

FirstService Increases Dividend

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

Wall Street Analysts Forecast Growth

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