Royce & Associates LP Sells 45,398 Shares of FirstService Co. (NASDAQ:FSV)

Royce & Associates LP reduced its stake in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 9.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 438,754 shares of the financial services provider's stock after selling 45,398 shares during the quarter. FirstService comprises 0.7% of Royce & Associates LP's holdings, making the stock its 14th largest holding. Royce & Associates LP owned about 0.97% of FirstService worth $80,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Benjamin Edwards Inc. increased its holdings in FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider's stock worth $53,000 after purchasing an additional 91 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of FirstService by 20.5% in the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider's stock valued at $97,000 after acquiring an additional 108 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider's stock valued at $63,000 after acquiring an additional 138 shares during the period. First Horizon Advisors Inc. boosted its stake in FirstService by 40.6% during the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider's stock worth $74,000 after acquiring an additional 141 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in FirstService by 3.7% in the second quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider's stock worth $616,000 after purchasing an additional 143 shares during the period. 69.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on FSV. Scotiabank lifted their price target on shares of FirstService from $190.00 to $200.00 and gave the company a "sector perform" rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of FirstService from $187.00 to $192.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. TD Securities lifted their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a research report on Thursday, October 17th. 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $198.33.

FirstService Stock Performance

FirstService stock traded up $0.90 during trading on Friday, hitting $186.16. The stock had a trading volume of 171,380 shares, compared to its average volume of 83,224. The stock's 50 day moving average is $183.74 and its two-hundred day moving average is $167.87. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $192.71. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 77.57 and a beta of 1.05. 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 (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.21. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The business's revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. As a group, analysts predict that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. FirstService's dividend payout ratio is presently 41.67%.

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.