Aubrey Capital Management Ltd Sells 700 Shares of FirstService Co. (NASDAQ:FSV)

Aubrey Capital Management Ltd decreased its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,300 shares of the financial services provider’s stock after selling 700 shares during the quarter. FirstService makes up 1.3% of Aubrey Capital Management Ltd’s holdings, making the stock its 20th largest holding. Aubrey Capital Management Ltd’s holdings in FirstService were worth $3,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FSV. Exchange Traded Concepts LLC grew its position in shares of FirstService by 126.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 392 shares of the financial services provider’s stock worth $57,000 after buying an additional 219 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in FirstService during the third quarter valued at about $85,000. Raymond James & Associates boosted its position in FirstService by 1.8% during the third quarter. Raymond James & Associates now owns 111,818 shares of the financial services provider’s stock valued at $16,274,000 after purchasing an additional 1,955 shares in the last quarter. Bank of New York Mellon Corp boosted its position in FirstService by 10.9% during the third quarter. Bank of New York Mellon Corp now owns 57,563 shares of the financial services provider’s stock valued at $8,378,000 after purchasing an additional 5,657 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in FirstService by 3.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,842 shares of the financial services provider’s stock valued at $2,169,000 after purchasing an additional 507 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

Shares of NASDAQ:FSV traded down $1.82 during trading on Friday, reaching $149.80. The stock had a trading volume of 82,212 shares, compared to its average volume of 85,591. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.82 and a current ratio of 1.97. The business has a fifty day moving average price of $161.56 and a 200-day moving average price of $158.34. The stock has a market cap of $6.74 billion, a PE ratio of 74.16 and a beta of 0.97. FirstService Co. has a 1-year low of $134.77 and a 1-year high of $171.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). FirstService had a return on equity of 15.16% and a net margin of 2.02%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, equities analysts forecast that FirstService Co. will post 4.6 earnings per share for the current fiscal year.

FirstService Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 29th were given a dividend of $0.25 per share. This is an increase from FirstService’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 0.67%. FirstService’s dividend payout ratio (DPR) is presently 49.51%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FSV. TheStreet cut FirstService from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $187.00 price objective on shares of FirstService in a research note on Wednesday, February 7th. Raymond James raised their price objective on FirstService from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Scotiabank began coverage on FirstService in a research note on Thursday, April 11th. They issued a “sector perform” rating and a $170.00 price objective for the company. Finally, BMO Capital Markets reduced their price objective on FirstService from $196.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.86.

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.