FirstService Corporation (NASDAQ:FSV) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 8.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,277 shares of the financial services provider’s stock after selling 119 shares during the period. Assenagon Asset Management S.A.’s holdings in FirstService were worth $212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its position in FirstService by 20.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 10,122 shares of the financial services provider’s stock worth $1,832,000 after purchasing an additional 1,742 shares during the period. Boston Financial Mangement LLC lifted its position in FirstService by 1.9% in the fourth quarter. Boston Financial Mangement LLC now owns 251,439 shares of the financial services provider’s stock worth $45,516,000 after purchasing an additional 4,766 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in FirstService in the fourth quarter worth approximately $308,000. Lincluden Management Ltd. lifted its position in FirstService by 10.4% in the fourth quarter. Lincluden Management Ltd. now owns 41,667 shares of the financial services provider’s stock worth $7,548,000 after purchasing an additional 3,934 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in FirstService by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 39,525 shares of the financial services provider’s stock worth $7,155,000 after purchasing an additional 3,449 shares during the period. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Trading Down 0.0%

Shares of NASDAQ:FSV opened at $177.59 on Friday. The company has a market cap of $8.07 billion, a P/E ratio of 61.45 and a beta of 1.01. The stock’s 50-day moving average is $174.45 and its 200-day moving average is $176.05. FirstService Corporation has a 52-week low of $148.43 and a 52-week high of $197.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.94 and a current ratio of 1.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 17.49% and a net margin of 2.46%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.67 earnings per share. Equities research analysts predict that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Monday, June 30th. FirstService’s dividend payout ratio (DPR) is presently 38.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FSV shares. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Scotiabank cut their price objective on FirstService from $217.50 to $210.00 and set a “sector perform” rating for the company in a research report on Thursday, April 17th. Finally, TD Securities increased their price objective on FirstService from $198.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.40.

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.