FirstService (NASDAQ:FSV) Shares Down 4.9% - What's Next?

FirstService Co. (NASDAQ:FSV - Get Free Report) TSE: FSV's stock price was down 4.9% during trading on Wednesday . The company traded as low as $173.95 and last traded at $172.80. Approximately 54,261 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 117,762 shares. The stock had previously closed at $181.65.

Analysts Set New Price Targets

Several research firms have recently weighed in on FSV. TD Securities increased their price target on FirstService from $179.00 to $182.00 and gave the company a "hold" rating in a report on Thursday, October 17th. Raymond James boosted their price target on FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Scotiabank increased their price objective on shares of FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 15th. Stifel Nicolaus raised their price objective on shares of FirstService from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Finally, StockNews.com raised shares of FirstService from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, FirstService presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.67.

FirstService Price Performance

The firm has a market cap of $7.76 billion, a PE ratio of 71.43 and a beta of 1.06. The firm's fifty day simple moving average is $183.71 and its two-hundred day simple moving average is $181.78. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, March 31st will be paid a dividend of $0.275 per share. This is a boost from FirstService's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.64%. FirstService's payout ratio is 37.04%.

Institutional Investors Weigh In On FirstService

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its stake in FirstService by 486.3% during the 3rd quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider's stock valued at $87,308,000 after purchasing an additional 389,129 shares during the period. Raymond James Financial Inc. bought a new stake in shares of FirstService during the fourth quarter valued at approximately $48,541,000. CIBC Asset Management Inc lifted its holdings in shares of FirstService by 57.4% in the fourth quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider's stock worth $83,138,000 after buying an additional 166,996 shares in the last quarter. Bank of Montreal Can grew its stake in FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider's stock valued at $69,992,000 after acquiring an additional 63,807 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in FirstService by 24.1% in the 4th quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider's stock valued at $46,839,000 after acquiring an additional 50,265 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

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.