Toronto Dominion Bank Has $11.29 Million Stock Holdings in FirstService Co. (NASDAQ:FSV)

Toronto Dominion Bank decreased its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 11.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 62,375 shares of the financial services provider’s stock after selling 7,832 shares during the quarter. Toronto Dominion Bank’s holdings in FirstService were worth $11,285,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its stake in shares of FirstService by 57.4% in the 4th quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock valued at $83,138,000 after acquiring an additional 166,996 shares during the last quarter. Fiera Capital Corp raised its position in FirstService by 24.1% in the fourth quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider’s stock valued at $46,839,000 after purchasing an additional 50,265 shares during the last quarter. Triasima Portfolio Management inc. bought a new position in FirstService in the fourth quarter valued at about $2,816,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of FirstService during the fourth quarter valued at about $308,000. Finally, Jennison Associates LLC grew its holdings in shares of FirstService by 686.9% during the fourth quarter. Jennison Associates LLC now owns 37,702 shares of the financial services provider’s stock worth $6,827,000 after purchasing an additional 32,911 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of FirstService stock opened at $176.34 on Wednesday. The company has a market cap of $8.01 billion, a PE ratio of 59.37 and a beta of 1.04. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. The business has a 50 day moving average price of $170.52 and a 200-day moving average price of $178.01.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.28 billion. FirstService had a net margin of 2.58% and a return on equity of 17.15%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. Equities analysts anticipate that FirstService Co. will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Monday, June 30th. FirstService’s payout ratio is 38.06%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Raymond James lifted their target price on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank lowered their target price on shares of FirstService from $217.50 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, April 17th. StockNews.com lowered FirstService from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, TD Securities upped their price objective on shares of FirstService from $198.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, FirstService presently has a consensus rating of “Moderate Buy” and an average price target of $206.33.

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.