Clearbridge Investments LLC Sells 2,625 Shares of FirstService Co. (NASDAQ:FSV)

Clearbridge Investments LLC cut its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 1.1% in the first quarter, HoldingsChannel reports. The fund owned 233,776 shares of the financial services provider’s stock after selling 2,625 shares during the period. Clearbridge Investments LLC’s holdings in FirstService were worth $38,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FSV. Mackenzie Financial Corp boosted its stake in shares of FirstService by 0.7% in the fourth quarter. Mackenzie Financial Corp now owns 2,381,128 shares of the financial services provider’s stock worth $385,917,000 after acquiring an additional 16,362 shares during the period. Vanguard Group Inc. lifted its holdings in FirstService by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after purchasing an additional 76,503 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in FirstService by 1.1% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,382,615 shares of the financial services provider’s stock worth $229,238,000 after purchasing an additional 15,482 shares during the period. CIBC Asset Management Inc grew its holdings in FirstService by 1.6% during the 4th quarter. CIBC Asset Management Inc now owns 520,447 shares of the financial services provider’s stock valued at $84,579,000 after buying an additional 8,432 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of FirstService during the fourth quarter valued at approximately $82,488,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FSV. BMO Capital Markets increased their price target on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Scotiabank upped their price target on shares of FirstService from $170.00 to $175.00 and gave the company a “sector perform” rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.60.

FirstService Trading Up 0.2 %

Shares of FirstService stock traded up $0.30 on Tuesday, reaching $166.32. The company had a trading volume of 41,827 shares, compared to its average volume of 85,286. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 82.34 and a beta of 1.05. The firm’s 50-day moving average price is $152.59 and its two-hundred day moving average price is $158.07. FirstService Co. has a 1 year low of $134.77 and a 1 year high of $171.94. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.00 and a quick ratio of 2.00.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. FirstService had a net margin of 2.02% and a return on equity of 16.42%. As a group, research analysts predict that FirstService Co. will post 4.31 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 28th were given a $0.25 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 0.60%. FirstService’s dividend payout ratio (DPR) is 49.51%.

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.