Barclays PLC Trims Stake in FirstService Co. (NASDAQ:FSV)

Barclays PLC lessened its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 2.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 15,450 shares of the financial services provider’s stock after selling 453 shares during the quarter. Barclays PLC’s holdings in FirstService were worth $2,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FSV. Public Employees Retirement System of Ohio purchased a new stake in FirstService during the third quarter worth $1,238,000. MML Investors Services LLC purchased a new stake in shares of FirstService during the 3rd quarter worth about $262,000. Wellington Management Group LLP grew its position 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 acquiring an additional 20,097 shares during the period. Stifel Financial Corp increased its stake in shares of FirstService by 65.4% in the 3rd quarter. Stifel Financial Corp now owns 21,103 shares of the financial services provider’s stock valued at $3,851,000 after purchasing an additional 8,348 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in FirstService by 13.2% during the third quarter. Quantinno Capital Management LP now owns 13,364 shares of the financial services provider’s stock worth $2,438,000 after purchasing an additional 1,557 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

NASDAQ:FSV opened at $184.48 on Wednesday. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The company has a market cap of $8.35 billion, a P/E ratio of 76.87 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. The company’s 50-day moving average price is $188.54 and its 200-day moving average price is $176.34.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $1.18 EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, sell-side analysts forecast that FirstService Co. will post 4.58 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Tuesday, December 31st. FirstService’s dividend payout ratio (DPR) is presently 41.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FSV. Stifel Nicolaus boosted their price objective on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Scotiabank increased their price objective on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a report on Tuesday, October 15th. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, TD Securities upped their price target 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, FirstService currently has an average rating of “Moderate Buy” and an average target price of $198.33.

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.