APG Asset Management N.V. Sells 211,810 Shares of FirstService Co. (NASDAQ:FSV)

APG Asset Management N.V. decreased its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 47.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 235,305 shares of the financial services provider’s stock after selling 211,810 shares during the period. APG Asset Management N.V.’s holdings in FirstService were worth $33,405,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of FirstService by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after purchasing an additional 76,503 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in FirstService by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock worth $217,409,000 after buying an additional 44,236 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of FirstService by 0.8% during the 2nd quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock worth $131,323,000 after buying an additional 6,863 shares during the period. Renaissance Technologies LLC increased its stake in shares of FirstService by 3.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider’s stock valued at $98,033,000 after acquiring an additional 21,100 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of FirstService by 1.6% in the 4th quarter. CIBC Asset Management Inc now owns 520,447 shares of the financial services provider’s stock valued at $84,579,000 after acquiring an additional 8,432 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Price Performance

FSV stock opened at $180.36 on Friday. The stock has a 50-day moving average price of $175.57 and a two-hundred day moving average price of $161.87. FirstService Co. has a 1 year low of $134.77 and a 1 year high of $183.86. The stock has a market cap of $8.11 billion, a PE ratio of 89.29 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 15.60% and a net margin of 1.73%. FirstService’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $1.37 earnings per share. Equities analysts forecast that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, September 30th. FirstService’s payout ratio is 49.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FSV shares. Scotiabank upped their target price on shares of FirstService from $175.00 to $190.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. TD Securities upped their price objective on shares of FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Royal Bank of Canada lifted their target price on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, BMO Capital Markets increased their price target on FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, FirstService currently has an average rating of “Moderate Buy” and an average price target of $189.50.

FirstService Company 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.