Quotient Wealth Partners LLC Cuts Stake in FirstService Co. (NASDAQ:FSV)

Quotient Wealth Partners LLC lessened its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 35.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,116 shares of the financial services provider’s stock after selling 621 shares during the quarter. Quotient Wealth Partners LLC’s holdings in FirstService were worth $204,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in FirstService in the fourth quarter worth about $269,000. Goldman Sachs Group Inc. raised its holdings in FirstService by 245.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 338,104 shares of the financial services provider’s stock worth $54,803,000 after acquiring an additional 240,303 shares during the last quarter. Accent Capital Management LLC bought a new position in FirstService in the 4th quarter valued at approximately $40,000. Gulf International Bank UK Ltd boosted its stake in FirstService by 25.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 75 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of FirstService by 1.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 81,663 shares of the financial services provider’s stock worth $13,528,000 after purchasing an additional 1,240 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

NASDAQ FSV opened at $185.80 on Friday. The company has a 50-day moving average price of $177.52 and a 200-day moving average price of $162.79. FirstService Co. has a 52 week low of $134.77 and a 52 week high of $187.52. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $8.36 billion, a P/E ratio of 103.80 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 earnings per share. Equities research analysts anticipate that FirstService Co. will post 4.35 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 0.54%. FirstService’s dividend payout ratio (DPR) is presently 55.87%.

Wall Street Analysts Forecast Growth

FSV has been the topic of several recent analyst reports. Scotiabank increased their price objective on FirstService from $175.00 to $190.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. TD Securities lifted their price target on shares of FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada increased their price objective on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $189.50.

About FirstService

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.