Short Interest in FirstService Co. (NASDAQ:FSV) Rises By 42.8%

FirstService Co. (NASDAQ:FSV) (TSE:FSV) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 318,000 shares, an increase of 42.8% from the February 13th total of 222,700 shares. Based on an average daily volume of 119,500 shares, the days-to-cover ratio is presently 2.7 days. Approximately 0.8% of the shares of the company are short sold.

FirstService Stock Up 3.6 %

Shares of NASDAQ:FSV opened at $165.45 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The stock has a market cap of $7.52 billion, a P/E ratio of 55.71 and a beta of 1.12. The business’s 50 day moving average is $176.48 and its 200 day moving average is $182.01. FirstService has a 52-week low of $141.26 and a 52-week high of $197.84.

FirstService Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, March 31st. This is a positive change from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio is currently 37.04%.

Hedge Funds Weigh In On FirstService

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new position in FirstService in the 4th quarter valued at $29,000. Trust Co. of Vermont acquired a new stake in shares of FirstService during the 4th quarter worth about $46,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of FirstService during the 3rd quarter worth about $53,000. Natixis grew its position in FirstService by 5,511.1% in the 4th quarter. Natixis now owns 505 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 496 shares in the last quarter. Finally, State of Wyoming acquired a new position in FirstService in the 4th quarter valued at about $101,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Raymond James upped their price objective on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, FirstService presently has an average rating of “Moderate Buy” and an average price target of $201.67.

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.