FirstService (NASDAQ:FSV) Stock Price Down 4.9% – Time to Sell?

Shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) dropped 4.9% during trading on Wednesday . The stock traded as low as $173.95 and last traded at $172.80. Approximately 54,261 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 117,762 shares. The stock had previously closed at $181.65.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Securities upped their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Scotiabank lifted their target price on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Raymond James increased their price target on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Stifel Nicolaus lifted their price objective on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

FirstService Trading Down 4.6 %

The stock has a fifty day moving average price of $184.60 and a 200 day moving average price of $181.91. The stock has a market cap of $7.85 billion, a PE ratio of 72.25 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, March 31st will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.63%. This is a positive change from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio (DPR) is 41.67%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc purchased a new position in shares of FirstService during the fourth quarter worth approximately $29,000. Trust Co. of Vermont purchased a new position in FirstService during the 4th quarter worth $46,000. Wilmington Savings Fund Society FSB bought a new stake in FirstService during the 3rd quarter valued at $53,000. Venturi Wealth Management LLC bought a new position in FirstService during the 3rd quarter worth about $66,000. Finally, Blue Trust Inc. raised its holdings in shares of FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 446 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

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.