FirstService Co. (NASDAQ:FSV) Shares Sold by PAX Financial Group LLC

PAX Financial Group LLC cut its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 17.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,682 shares of the financial services provider’s stock after selling 570 shares during the period. PAX Financial Group LLC’s holdings in FirstService were worth $485,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of FirstService by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,794,676 shares of the financial services provider’s stock worth $325,100,000 after acquiring an additional 23,103 shares during the last quarter. Franklin Resources Inc. raised its stake in FirstService by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider’s stock worth $100,632,000 after purchasing an additional 86,909 shares during the period. Norges Bank acquired a new position in shares of FirstService in the 4th quarter valued at $98,615,000. American Century Companies Inc. grew its stake in shares of FirstService by 36.2% during the 4th quarter. American Century Companies Inc. now owns 543,163 shares of the financial services provider’s stock valued at $98,380,000 after buying an additional 144,234 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of FirstService by 57.4% during the 4th quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock worth $83,138,000 after buying an additional 166,996 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

Shares of NASDAQ FSV opened at $160.90 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $197.84. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 54.18 and a beta of 1.04. The business has a 50-day moving average of $173.08 and a 200-day moving average of $180.92.

FirstService Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Monday, March 31st. This is a boost from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio is currently 37.04%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSV. Raymond James boosted their price target on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.67.

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.