National Bank of Canada FI Trims Stock Position in FirstService Co. (NASDAQ:FSV)

National Bank of Canada FI trimmed its position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 24.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,711 shares of the financial services provider's stock after selling 80,101 shares during the period. National Bank of Canada FI owned 0.54% of FirstService worth $44,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FSV. Wellington Management Group LLP raised its stake in shares of FirstService by 47.3% during the 3rd quarter. Wellington Management Group LLP now owns 62,613 shares of the financial services provider's stock valued at $11,426,000 after purchasing an additional 20,097 shares during the period. Stifel Financial Corp grew its holdings in FirstService by 65.4% during the 3rd quarter. Stifel Financial Corp now owns 21,103 shares of the financial services provider's stock valued at $3,851,000 after buying an additional 8,348 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of FirstService by 13.2% during the third quarter. Quantinno Capital Management LP now owns 13,364 shares of the financial services provider's stock valued at $2,438,000 after buying an additional 1,557 shares during the period. Point72 Asset Management L.P. increased its position in shares of FirstService by 2,920.0% during the third quarter. Point72 Asset Management L.P. now owns 15,100 shares of the financial services provider's stock valued at $2,755,000 after buying an additional 14,600 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of FirstService by 0.4% in the third quarter. Janus Henderson Group PLC now owns 109,556 shares of the financial services provider's stock worth $19,991,000 after buying an additional 384 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Securities increased their price objective on FirstService from $179.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, October 17th. StockNews.com raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Stifel Nicolaus boosted their target price on FirstService from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Finally, Scotiabank boosted their target price on FirstService from $190.00 to $200.00 and gave the company a "sector perform" rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, FirstService has a consensus rating of "Moderate Buy" and a consensus target price of $198.33.

FirstService Stock Performance

NASDAQ:FSV traded down $0.22 during mid-day trading on Monday, reaching $191.83. The company's stock had a trading volume of 46,897 shares, compared to its average volume of 83,546. The firm's fifty day moving average price is $187.41 and its two-hundred day moving average price is $172.94. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The stock has a market cap of $8.68 billion, a P/E ratio of 80.02 and a beta of 1.04. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13.

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

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. FirstService's payout ratio is 41.67%.

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.