FirstService (NASDAQ:FSV) Given New $210.00 Price Target at Scotiabank

FirstService (NASDAQ:FSV) (TSE:FSV) had its target price decreased by Scotiabank from $217.50 to $210.00 in a research report released on Thursday morning, Marketbeat Ratings reports. Scotiabank currently has a sector perform rating on the financial services provider’s stock.

Several other research firms have also recently commented on FSV. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Raymond James boosted their price objective on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $203.33.

FirstService Price Performance

FSV opened at $172.03 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. The stock has a market capitalization of $7.82 billion, a P/E ratio of 57.92 and a beta of 1.04. The company’s 50 day simple moving average is $170.12 and its 200-day simple moving average is $179.81. FirstService has a one year low of $141.26 and a one year high of $197.84.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were paid a $0.275 dividend. This is a positive change from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.10 annualized dividend and a yield of 0.64%. FirstService’s dividend payout ratio is presently 37.04%.

Institutional Trading of FirstService

Institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its holdings in FirstService by 486.3% during the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock valued at $87,308,000 after purchasing an additional 389,129 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of FirstService by 5.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 200,776 shares of the financial services provider’s stock valued at $36,634,000 after buying an additional 10,191 shares during the period. CIBC Asset Management Inc increased its position in shares of FirstService by 57.4% in the 4th quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock valued at $83,138,000 after buying an additional 166,996 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in FirstService by 253.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 19,351 shares of the financial services provider’s stock worth $3,503,000 after buying an additional 13,876 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in FirstService by 4.4% during the third quarter. Geode Capital Management LLC now owns 240,603 shares of the financial services provider’s stock worth $45,144,000 after acquiring an additional 10,213 shares in the last quarter. 69.35% of the stock is owned by institutional investors.

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.