State of New Jersey Common Pension Fund D Trims Holdings in FirstService Co. (NASDAQ:FSV)

State of New Jersey Common Pension Fund D lowered its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 17.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,112 shares of the financial services provider’s stock after selling 1,965 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FirstService were worth $1,477,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC lifted its stake in shares of FirstService by 126.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 392 shares of the financial services provider’s stock valued at $57,000 after buying an additional 219 shares in the last quarter. Signaturefd LLC lifted its position in shares of FirstService by 28.5% in the third quarter. Signaturefd LLC now owns 500 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 111 shares in the last quarter. Duncker Streett & Co. Inc. boosted its stake in shares of FirstService by 335.8% in the fourth quarter. Duncker Streett & Co. Inc. now owns 706 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 544 shares during the period. First Bank & Trust grew its position in shares of FirstService by 13.6% during the fourth quarter. First Bank & Trust now owns 1,733 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 207 shares in the last quarter. Finally, Advisor Partners II LLC lifted its holdings in FirstService by 41.0% in the 3rd quarter. Advisor Partners II LLC now owns 2,275 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 662 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FSV shares. Raymond James increased their price objective on shares of FirstService from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Scotiabank started coverage on shares of FirstService in a report on Thursday, April 11th. They issued a “sector perform” rating and a $170.00 price target on the stock. TheStreet downgraded shares of FirstService from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $187.00 target price on shares of FirstService in a report on Wednesday, February 7th. Finally, BMO Capital Markets dropped their price target on FirstService from $196.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, FirstService has an average rating of “Moderate Buy” and a consensus target price of $186.00.

FirstService Stock Down 0.3 %

Shares of NASDAQ FSV opened at $146.55 on Thursday. The firm’s 50-day moving average price is $160.55 and its 200-day moving average price is $158.47. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.89. FirstService Co. has a 12-month low of $134.77 and a 12-month high of $171.94. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 72.55 and a beta of 0.97.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). FirstService had a return on equity of 15.16% and a net margin of 2.02%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, equities research analysts anticipate that FirstService Co. will post 4.38 EPS for the current fiscal year.

FirstService Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 29th were given a dividend of $0.25 per share. This is a boost from FirstService’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 0.68%. FirstService’s payout ratio is 49.51%.

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.