FirstService Corporation $FSV Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,751 shares of the financial services provider’s stock after selling 10,498 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.44% of FirstService worth $34,880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westerkirk Capital Inc. acquired a new position in FirstService in the 2nd quarter valued at $419,000. Quantbot Technologies LP boosted its holdings in shares of FirstService by 6.6% in the second quarter. Quantbot Technologies LP now owns 15,375 shares of the financial services provider’s stock valued at $2,685,000 after acquiring an additional 953 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of FirstService by 0.6% during the second quarter. New York State Common Retirement Fund now owns 24,183 shares of the financial services provider’s stock worth $4,223,000 after acquiring an additional 150 shares during the period. Mackenzie Financial Corp increased its stake in shares of FirstService by 100.8% during the second quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock worth $257,634,000 after acquiring an additional 740,583 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in FirstService by 88.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 55,532 shares of the financial services provider’s stock worth $9,697,000 after purchasing an additional 26,061 shares in the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FSV has been the topic of a number of analyst reports. Wall Street Zen lowered FirstService from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Stifel Nicolaus decreased their price target on FirstService from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. CIBC dropped their price objective on FirstService from $225.00 to $216.00 and set an “outperform” rating on the stock in a report on Friday, October 24th. Zacks Research downgraded FirstService from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Finally, BMO Capital Markets set a $209.00 target price on shares of FirstService and gave the stock an “outperform” rating in a research report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, FirstService has an average rating of “Moderate Buy” and an average target price of $211.83.

FirstService Price Performance

Shares of NASDAQ FSV opened at $154.92 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $166.47 and its 200 day moving average price is $180.37. FirstService Corporation has a 52 week low of $149.13 and a 52 week high of $209.66. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 2.92 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.76. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 earnings per share. As a group, research analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, December 31st. FirstService’s dividend payout ratio is 36.42%.

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.