FirstService (NASDAQ:FSV) Sees Unusually-High Trading Volume – What’s Next?

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) saw strong trading volume on Friday . 437,717 shares traded hands during trading, an increase of 169% from the previous session’s volume of 162,515 shares.The stock last traded at $153.66 and had previously closed at $158.23.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wall Street Zen lowered shares of FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Stifel Nicolaus reduced their price objective on shares of FirstService from $230.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 27th. BMO Capital Markets set a $209.00 target price on shares of FirstService and gave the stock an “outperform” rating in a report on Friday, October 24th. TD Securities dropped their price target on shares of FirstService from $213.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, CIBC decreased their price objective on FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.83.

FirstService Price Performance

The stock has a market cap of $7.10 billion, a PE ratio of 51.41, a P/E/G ratio of 2.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.77 and a quick ratio of 1.77. The firm’s 50 day moving average price is $156.07 and its two-hundred day moving average price is $174.91.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 31st were paid 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 was Wednesday, December 31st. FirstService’s dividend payout ratio (DPR) is currently 36.42%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FSV. Lincluden Management Ltd. grew its position in FirstService by 14.2% in the 4th quarter. Lincluden Management Ltd. now owns 46,898 shares of the financial services provider’s stock worth $7,294,000 after purchasing an additional 5,818 shares during the period. M&T Bank Corp purchased a new position in shares of FirstService in the 4th quarter worth $433,000. UBS Group AG grew its holdings in shares of FirstService by 40.5% in the fourth quarter. UBS Group AG now owns 174,467 shares of the financial services provider’s stock worth $27,135,000 after acquiring an additional 50,263 shares during the period. Advisors Capital Management LLC increased its position in FirstService by 7.6% during the fourth quarter. Advisors Capital Management LLC now owns 27,349 shares of the financial services provider’s stock valued at $4,254,000 after acquiring an additional 1,937 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in FirstService by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock valued at $304,000,000 after acquiring an additional 29,805 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

About FirstService

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.