FirstService (NASDAQ:FSV) Sees Unusually-High Trading Volume – Still a Buy?

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) shares saw unusually-high trading volume on Friday . Approximately 437,717 shares were traded during trading, an increase of 169% from the previous session’s volume of 162,515 shares.The stock last traded at $153.66 and had previously closed at $158.23.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FSV shares. TD Securities lowered their price target on shares of FirstService from $213.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. BMO Capital Markets set a $209.00 price target on shares of FirstService and gave the company an “outperform” rating in a research note on Friday, October 24th. Raymond James Financial decreased their price target on FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a report on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.83.

FirstService Price Performance

The company has a market cap of $7.04 billion, a P/E ratio of 50.86, a PEG ratio of 2.74 and a beta of 1.06. The company has a fifty day moving average price of $156.06 and a two-hundred day moving average price of $175.09. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.77 and a current ratio of 1.77.

FirstService Announces Dividend

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

Institutional Trading of FirstService

A number of hedge funds have recently made changes to their positions in FSV. Mackenzie Financial Corp boosted its holdings in shares of FirstService by 100.8% during the 2nd quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock worth $257,634,000 after buying an additional 740,583 shares during the period. Norges Bank bought a new stake in shares of FirstService during the 2nd quarter worth approximately $93,904,000. Picton Mahoney Asset Management bought a new stake in FirstService during the second quarter worth $56,029,000. Durable Capital Partners LP raised its holdings in shares of FirstService by 12.9% during the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock worth $422,263,000 after buying an additional 253,155 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in FirstService by 79.5% during the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock worth $52,880,000 after acquiring an additional 141,152 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

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.