Mackenzie Financial Corp Has $184.02 Million Position in FirstService Co. (NASDAQ:FSV)

Mackenzie Financial Corp cut its holdings in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 36.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,209,016 shares of the financial services provider's stock after selling 691,288 shares during the period. Mackenzie Financial Corp owned about 2.69% of FirstService worth $184,017,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. TD Asset Management Inc lifted its stake in FirstService by 8.9% during the fourth quarter. TD Asset Management Inc now owns 250,577 shares of the financial services provider's stock worth $40,739,000 after purchasing an additional 20,397 shares during the period. Toronto Dominion Bank grew its position in FirstService by 68.0% in the first quarter. Toronto Dominion Bank now owns 68,856 shares of the financial services provider's stock valued at $11,416,000 after purchasing an additional 27,871 shares in the last quarter. Norden Group LLC bought a new position in shares of FirstService in the first quarter valued at $862,000. LM Advisors LLC acquired a new position in FirstService during the fourth quarter worth approximately $15,557,000. Finally, Goldman Sachs Group Inc. lifted its holdings in FirstService by 245.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 338,104 shares of the financial services provider's stock valued at $54,803,000 after purchasing an additional 240,303 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

FSV traded up $2.04 during trading on Friday, reaching $183.31. 25,697 shares of the company's stock were exchanged, compared to its average volume of 83,006. The company's fifty day simple moving average is $175.24 and its 200-day simple moving average is $161.76. The stock has a market capitalization of $8.24 billion, a P/E ratio of 89.74 and a beta of 1.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84. FirstService Co. has a 1 year low of $134.77 and a 1 year high of $183.46.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts predict that FirstService Co. will post 4.35 earnings per share for the current fiscal year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 30th. FirstService's dividend payout ratio is currently 49.50%.

Analyst Ratings Changes

FSV has been the subject of a number of recent analyst reports. Scotiabank upped their price target on shares of FirstService from $175.00 to $190.00 and gave the stock a "sector perform" rating in a report on Monday, July 29th. BMO Capital Markets upped their target price on shares of FirstService from $193.00 to $196.00 and gave the stock an "outperform" rating in a report on Friday, June 7th. TD Securities increased their target price on shares of FirstService from $178.00 to $179.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada increased 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 assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $189.50.

FirstService 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.