Dearborn Partners LLC Reduces Holdings in FirstService Co. (NASDAQ:FSV)

Dearborn Partners LLC reduced its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 73.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,627 shares of the financial services provider’s stock after selling 4,509 shares during the quarter. Dearborn Partners LLC’s holdings in FirstService were worth $297,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Benjamin Edwards Inc. lifted its stake in shares of FirstService by 35.0% during the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after buying an additional 91 shares during the period. Fifth Third Bancorp lifted its position in FirstService by 20.5% during the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 108 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 138 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 141 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in shares of FirstService by 3.7% in the second quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 143 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Trading Up 0.5 %

Shares of FSV opened at $186.16 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $183.91 and a 200 day moving average price of $168.13. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $192.71. The firm has a market capitalization of $8.40 billion, a P/E ratio of 77.57 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.21. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $1.18 EPS. The business’s revenue was up 25.0% compared to the same quarter last year. Sell-side analysts forecast that FirstService Co. will post 4.58 EPS for the current year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s dividend payout ratio is presently 41.67%.

Analysts Set New Price Targets

FSV has been the topic of several research reports. TD Securities increased their price target on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Stifel Nicolaus raised their target price on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, October 21st. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Scotiabank lifted their price objective on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada upped their target price on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.33.

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.