Quadrature Capital Ltd Sells 159,100 Shares of FirstService Co. (NASDAQ:FSV)

Quadrature Capital Ltd decreased its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 85.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,100 shares of the financial services provider’s stock after selling 159,100 shares during the period. Quadrature Capital Ltd owned 0.06% of FirstService worth $4,957,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of FirstService by 8,066.7% in the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 242 shares during the period. Benjamin Edwards Inc. lifted its stake in FirstService by 35.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 91 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in FirstService by 49.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of FirstService during the 3rd quarter worth approximately $66,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of FirstService by 40.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

Shares of FSV stock opened at $194.26 on Friday. The firm has a market cap of $8.77 billion, a P/E ratio of 80.94 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 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 firm has a fifty day moving average of $187.17 and a two-hundred day moving average of $172.27.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.21. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. FirstService’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the firm posted $1.18 EPS. As a group, research analysts anticipate that FirstService Co. will post 4.58 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. FirstService’s dividend payout ratio is currently 41.67%.

Analyst Ratings Changes

Several analysts recently weighed in on FSV shares. Stifel Nicolaus lifted their target price on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. Scotiabank lifted their price objective on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. TD Securities boosted their price target on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.33.

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.