Morgan Stanley Sells 81,768 Shares of FirstService Corp (NASDAQ:FSV)

Morgan Stanley lowered its stake in FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 24.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,065 shares of the financial services provider’s stock after selling 81,768 shares during the period. Morgan Stanley owned approximately 0.60% of FirstService worth $19,362,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FSV. Bank of New York Mellon Corp raised its stake in FirstService by 1.6% in the fourth quarter. Bank of New York Mellon Corp now owns 6,247 shares of the financial services provider’s stock worth $581,000 after buying an additional 100 shares in the last quarter. Synovus Financial Corp purchased a new stake in shares of FirstService during the 1st quarter worth about $29,000. Centaurus Financial Inc. boosted its stake in shares of FirstService by 15.2% during the 1st quarter. Centaurus Financial Inc. now owns 3,635 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 480 shares in the last quarter. Alberta Investment Management Corp raised its position in shares of FirstService by 0.5% during the 4th quarter. Alberta Investment Management Corp now owns 97,694 shares of the financial services provider’s stock worth $9,108,000 after purchasing an additional 500 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its holdings in FirstService by 56.5% in the 4th quarter. Marshall Wace North America L.P. now owns 1,900 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 686 shares during the last quarter. Institutional investors and hedge funds own 65.55% of the company’s stock.

Shares of FSV opened at $100.75 on Wednesday. The company has a 50-day moving average of $93.70 and a two-hundred day moving average of $92.37. The company has a current ratio of 1.64, a quick ratio of 1.65 and a debt-to-equity ratio of 1.76. The stock has a market cap of $4.14 billion, a P/E ratio of -15.17 and a beta of 0.93. FirstService Corp has a 12-month low of $57.38 and a 12-month high of $114.87.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.42. FirstService had a negative net margin of 9.73% and a positive return on equity of 20.30%. The business had revenue of $633.80 million during the quarter, compared to analyst estimates of $624.90 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. The company’s revenue was up 30.5% on a year-over-year basis. As a group, analysts forecast that FirstService Corp will post 0.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, June 29th. FirstService’s dividend payout ratio (DPR) is -10.14%.

Several equities analysts have commented on FSV shares. CIBC raised shares of FirstService from a “neutral” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Friday, April 3rd. TD Securities upgraded shares of FirstService from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $139.80 in a report on Monday, May 25th. William Blair upgraded shares of FirstService from a “market perform” rating to an “outperform” rating in a report on Friday, April 24th. Raymond James reduced their price objective on shares of FirstService from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Finally, BidaskClub upgraded shares of FirstService from a “sell” rating to a “hold” rating in a report on Friday, May 22nd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. FirstService currently has an average rating of “Hold” and a consensus target price of $107.47.

FirstService Profile

FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management 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.

Read More: Why is Cost of Capital Important?

Want to see what other hedge funds are holding FSV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstService Corp (NASDAQ:FSV) (TSE:FSV).

Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

Receive News & Ratings for FirstService Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstService and related companies with MarketBeat.com's FREE daily email newsletter.