FirstService Co. (NASDAQ:FSV) Short Interest Up 30.5% in February

FirstService Co. (NASDAQ:FSV) (TSE:FSV) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 222,700 shares, an increase of 30.5% from the January 31st total of 170,700 shares. Based on an average daily volume of 113,000 shares, the short-interest ratio is presently 2.0 days. Approximately 0.6% of the company’s stock are sold short.

FirstService Stock Performance

Shares of NASDAQ FSV traded down $0.52 during midday trading on Tuesday, hitting $175.51. 92,449 shares of the company’s stock traded hands, compared to its average volume of 126,318. FirstService has a 1 year low of $141.26 and a 1 year high of $197.84. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 59.09 and a beta of 1.06. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. The firm has a fifty day moving average of $178.97 and a 200 day moving average of $182.49.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.63%. This is a positive change from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. FirstService’s dividend payout ratio is currently 37.04%.

Analyst Ratings Changes

Separately, Raymond James upped their price target on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.67.

Institutional Investors Weigh In On FirstService

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in FirstService by 486.3% in the 3rd quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock worth $87,308,000 after acquiring an additional 389,129 shares in the last quarter. Bank of Montreal Can increased its holdings in FirstService by 19.7% in the 3rd quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock worth $69,992,000 after acquiring an additional 63,807 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in FirstService by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 200,776 shares of the financial services provider’s stock valued at $36,634,000 after buying an additional 10,191 shares in the last quarter. CIBC Asset Management Inc grew its holdings in FirstService by 57.4% during 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 buying an additional 166,996 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in FirstService by 253.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 19,351 shares of the financial services provider’s stock valued at $3,503,000 after buying an additional 13,876 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

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.