Quadrature Capital Ltd Trims Position in FirstService Co. (NASDAQ:FSV)

Quadrature Capital Ltd decreased its position in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 85.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,100 shares of the financial services provider's stock after selling 159,100 shares during the quarter. Quadrature Capital Ltd owned 0.06% of FirstService worth $4,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FSV. Millennium Management LLC lifted its position in FirstService by 2,136.1% in the 2nd quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider's stock worth $31,853,000 after buying an additional 199,937 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in FirstService by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider's stock valued at $415,427,000 after purchasing an additional 174,970 shares during the last quarter. Bank of Montreal Can lifted its position in FirstService by 19.7% in 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 purchasing an additional 63,807 shares during the last quarter. Boston Financial Mangement LLC lifted its position in FirstService by 25.3% in the third quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider's stock valued at $45,008,000 after purchasing an additional 49,790 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in FirstService by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider's stock valued at $217,409,000 after purchasing an additional 44,236 shares during the last quarter. Institutional investors own 69.35% of the company's stock.

FirstService Stock Performance

Shares of FirstService stock traded down $2.21 during trading on Friday, hitting $192.05. 65,737 shares of the company's stock traded hands, compared to its average volume of 83,702. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. The stock has a market capitalization of $8.67 billion, a P/E ratio of 80.02 and a beta of 1.04. The business has a 50-day simple moving average of $187.41 and a 200-day simple moving average of $172.57.

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

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. FirstService's dividend payout ratio is currently 41.67%.

Wall Street Analysts Forecast Growth

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

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.