FirstService Co. (NASDAQ:FSV) Short Interest Up 42.8% in February

FirstService Co. (NASDAQ:FSV) (TSE:FSV) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 318,000 shares, a growth of 42.8% from the February 13th total of 222,700 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average trading volume of 119,500 shares, the days-to-cover ratio is currently 2.7 days.

FirstService Stock Performance

NASDAQ FSV opened at $168.55 on Tuesday. The business’s 50-day moving average price is $176.26 and its 200 day moving average price is $181.98. FirstService has a twelve month low of $141.26 and a twelve month high of $197.84. The company has a market capitalization of $7.66 billion, a PE ratio of 56.75 and a beta of 1.12. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09.

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.275 per share. The ex-dividend date is Monday, March 31st. This is a positive change from FirstService’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 0.65%. FirstService’s dividend payout ratio is currently 37.04%.

Analysts Set New Price Targets

Several analysts have recently issued reports on FSV shares. StockNews.com downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Raymond James upped their price objective on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.67.

Institutional Investors Weigh In On FirstService

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSV. Versant Capital Management Inc acquired a new stake in shares of FirstService in the fourth quarter valued at about $29,000. Trust Co. of Vermont bought a new position in FirstService during the 4th quarter worth approximately $46,000. Wilmington Savings Fund Society FSB bought a new position in FirstService during the 3rd quarter worth approximately $53,000. Natixis lifted its holdings in FirstService by 5,511.1% during the 4th quarter. Natixis now owns 505 shares of the financial services provider’s stock worth $91,000 after buying an additional 496 shares during the last quarter. Finally, State of Wyoming bought a new position in FirstService during the 4th quarter worth approximately $101,000. 69.35% of the stock is currently owned by institutional investors and hedge funds.

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.