WASHINGTON TRUST Co Takes Position in FirstService Co. (NASDAQ:FSV)

WASHINGTON TRUST Co acquired a new stake in FirstService Co. (NASDAQ:FSVGet Rating) (TSE:FSV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 200 shares of the financial services provider’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of FirstService by 33.3% in the 4th quarter. Fifth Third Bancorp now owns 436 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 109 shares during the last quarter. Forsta AP Fonden purchased a new position in shares of FirstService in the 3rd quarter valued at about $145,000. Bank of Nova Scotia Trust Co. increased its holdings in shares of FirstService by 5.3% in the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 1,512 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 76 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of FirstService in the 3rd quarter valued at about $370,000. Finally, NorthCrest Asset Manangement LLC purchased a new position in shares of FirstService in the 4th quarter valued at about $435,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Shares of FirstService stock opened at $124.42 on Thursday. The firm has a market cap of $5.50 billion, a P/E ratio of 43.20 and a beta of 1.02. The business has a 50-day moving average price of $137.50 and a 200 day moving average price of $165.42. FirstService Co. has a fifty-two week low of $119.81 and a fifty-two week high of $202.78. The company has a quick ratio of 1.46, a current ratio of 1.55 and a debt-to-equity ratio of 0.83.

FirstService (NASDAQ:FSVGet Rating) (TSE:FSV) last released its earnings results on Wednesday, April 27th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. FirstService had a return on equity of 16.37% and a net margin of 3.78%. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, equities research analysts anticipate that FirstService Co. will post 2.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 31st were given a dividend of $0.2025 per share. This represents a $0.81 annualized dividend and a yield of 0.65%. This is an increase from FirstService’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, March 30th. FirstService’s dividend payout ratio is presently 28.13%.

A number of research analysts recently issued reports on FSV shares. Zacks Investment Research downgraded FirstService from a “hold” rating to a “sell” rating in a research note on Wednesday. Raymond James dropped their price target on FirstService from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, April 28th. TD Securities decreased their price objective on FirstService from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Friday, April 29th. Deutsche Bank Aktiengesellschaft initiated coverage on FirstService in a research report on Tuesday, March 29th. They set a “hold” rating and a $143.00 price objective for the company. Finally, StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a report on Saturday, April 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, FirstService currently has an average rating of “Hold” and an average target price of $174.17.

About FirstService (Get Rating)

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. The company operates in two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment offers property management 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.

See Also

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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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