Bristol Gate Capital Partners Inc. Sells 276 Shares of FirstService Co. (NASDAQ:FSV)

Bristol Gate Capital Partners Inc. lessened its position in FirstService Co. (NASDAQ:FSVFree Report) (TSE:FSV) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,061 shares of the financial services provider’s stock after selling 276 shares during the quarter. Bristol Gate Capital Partners Inc.’s holdings in FirstService were worth $497,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FSV. Mackenzie Financial Corp lifted its position in shares of FirstService by 0.7% during the fourth quarter. Mackenzie Financial Corp now owns 2,381,128 shares of the financial services provider’s stock worth $385,917,000 after purchasing an additional 16,362 shares during the last quarter. Vanguard Group Inc. boosted its position in FirstService by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,582,337 shares of the financial services provider’s stock valued at $230,293,000 after buying an additional 29,482 shares during the period. Conestoga Capital Advisors LLC grew its stake in FirstService by 0.3% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,367,133 shares of the financial services provider’s stock worth $221,599,000 after acquiring an additional 4,431 shares in the last quarter. Royal Bank of Canada increased its position in shares of FirstService by 8.2% during the third quarter. Royal Bank of Canada now owns 699,088 shares of the financial services provider’s stock worth $101,744,000 after acquiring an additional 53,041 shares during the period. 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.

FirstService Stock Performance

Shares of FSV stock traded up $3.49 on Friday, hitting $147.12. The company had a trading volume of 199,446 shares, compared to its average volume of 86,767. FirstService Co. has a twelve month low of $134.77 and a twelve month high of $171.94. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.18. The firm has a market cap of $6.62 billion, a P/E ratio of 72.83 and a beta of 1.01. The company has a 50-day moving average price of $152.29 and a 200-day moving average price of $159.25.

FirstService (NASDAQ:FSVGet Free Report) (TSE:FSV) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). FirstService had a net margin of 2.02% and a return on equity of 16.42%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities research analysts predict that FirstService Co. will post 4.38 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, June 28th. FirstService’s payout ratio is presently 49.51%.

Wall Street Analysts Forecast Growth

FSV has been the subject of several recent research reports. Scotiabank initiated coverage on FirstService in a report on Thursday, April 11th. They issued a “sector perform” rating and a $170.00 price objective for the company. BMO Capital Markets reduced their price objective on shares of FirstService from $196.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $187.00 target price on shares of FirstService in a report on Wednesday, February 7th. TheStreet lowered FirstService from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th. Finally, StockNews.com lowered FirstService from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, FirstService has an average rating of “Moderate Buy” and a consensus target price of $186.00.

Check Out Our Latest Stock Report on FSV

FirstService Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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