Toronto Dominion Bank Sells 7,832 Shares of FirstService Co. (NASDAQ:FSV)

Toronto Dominion Bank trimmed its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 11.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,375 shares of the financial services provider’s stock after selling 7,832 shares during the period. Toronto Dominion Bank owned 0.14% of FirstService worth $11,285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its holdings in FirstService by 57.4% during the fourth quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock valued at $83,138,000 after acquiring an additional 166,996 shares during the period. Fiera Capital Corp lifted its position in shares of FirstService by 24.1% during the 4th quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider’s stock worth $46,839,000 after purchasing an additional 50,265 shares during the last quarter. Triasima Portfolio Management inc. bought a new stake in FirstService during the 4th quarter valued at approximately $2,816,000. Y Intercept Hong Kong Ltd acquired a new stake in FirstService in the 4th quarter valued at approximately $308,000. Finally, Jennison Associates LLC grew its holdings in FirstService by 686.9% in the 4th quarter. Jennison Associates LLC now owns 37,702 shares of the financial services provider’s stock valued at $6,827,000 after buying an additional 32,911 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Raymond James upped their target price on shares of FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. TD Securities increased their price target on shares of FirstService from $198.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, May 7th. Finally, Scotiabank dropped their price objective on shares of FirstService from $217.50 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $206.33.

FirstService Trading Up 0.1%

Shares of NASDAQ FSV opened at $176.34 on Wednesday. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $197.84. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average of $170.52 and a two-hundred day moving average of $178.01. The company has a market cap of $8.01 billion, a PE ratio of 59.37 and a beta of 1.04.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. FirstService had a net margin of 2.58% and a return on equity of 17.15%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts expect that FirstService Co. will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 30th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.10 annualized dividend and a yield of 0.62%. FirstService’s dividend payout ratio (DPR) is presently 38.06%.

FirstService Profile

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.