FirstService Corporation $FSV Stock Position Lowered by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG decreased its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 51.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,349 shares of the financial services provider’s stock after selling 3,485 shares during the period. J. Safra Sarasin Holding AG’s holdings in FirstService were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Mackenzie Financial Corp increased its holdings in shares of FirstService by 100.8% in the second quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock valued at $257,634,000 after buying an additional 740,583 shares in the last quarter. Norges Bank acquired a new stake in shares of FirstService during the second quarter worth $93,904,000. Picton Mahoney Asset Management acquired a new stake in shares of FirstService during the second quarter worth $56,029,000. Goldman Sachs Group Inc. lifted its holdings in shares of FirstService by 79.5% during the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after purchasing an additional 141,152 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of FirstService by 131.3% in the 2nd quarter. Acadian Asset Management LLC now owns 176,700 shares of the financial services provider’s stock valued at $30,754,000 after purchasing an additional 100,300 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FSV. BMO Capital Markets set a $209.00 price objective on FirstService and gave the stock an “outperform” rating in a report on Friday, October 24th. Stifel Nicolaus reduced their price target on shares of FirstService from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, October 27th. TD Securities decreased their price objective on shares of FirstService from $213.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a research note on Monday, December 22nd. Finally, Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, FirstService presently has an average rating of “Moderate Buy” and an average price target of $211.83.

FirstService Stock Performance

Shares of FSV stock opened at $155.44 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.77 and a quick ratio of 1.77. FirstService Corporation has a fifty-two week low of $147.23 and a fifty-two week high of $209.66. The stock’s 50-day moving average is $156.06 and its two-hundred day moving average is $175.09. The firm has a market cap of $7.11 billion, a P/E ratio of 51.47, a PEG ratio of 2.74 and a beta of 1.06.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 31st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, December 31st. FirstService’s dividend payout ratio (DPR) is presently 36.42%.

About FirstService

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.