Cibc World Market Inc. Reduces Stake in FirstService Co. (NASDAQ:FSV)

Cibc World Market Inc. has reduced its shareholding in FirstService Co. (NASDAQ:FSV) by 7.7% during the fourth quarter, based on the latest filing with the Securities and Exchange Commission. Following this adjustment, the institutional investor now owns 464,513 shares of FirstService after selling 38,922 shares during the quarter. This reduction brings Cibc World Market Inc.'s ownership to approximately 1.03% of FirstService, with a total value of around $84,113,000 at the end of the reporting period.

Other institutional investors and hedge funds have also changed their stakes in FirstService. Blue Trust Inc. increased its investment by 158.2% in the fourth quarter, acquiring 446 additional shares to reach a total holding of 728 shares worth $133,000. Trust Co. of Vermont entered a new position concerning FirstService, valuing it at $46,000. Canoe Financial LP significantly increased its stake by 1,451.8%, now owning 29,018 shares worth $5,253,000 after acquiring an extra 27,148 shares. Avanza Fonder AB also took a new position in FirstService valued at about $453,000. Lastly, Argent Capital Management LLC increased its holdings by 16.0%, now owning 33,406 shares worth $6,047,000 after adding 4,611 shares. Overall, 69.35% of FirstService stock is now held by hedge funds and other institutional investors.

FirstService Stock Performance

The stock for FirstService opened at $184.18 on Friday. Its 50-day simple moving average is $185.39, while the 200-day simple moving average is $181.30. FirstService Co. currently boasts a market cap of $8.34 billion, with a price-to-earnings ratio of 76.74 and a beta of 1.06. The company has a current ratio of 1.79, a quick ratio also at 1.79, and a debt-to-equity ratio of 1.13. Over the past year, FirstService has seen a stock price low of $141.26 and a high of $197.84.

FirstService Announces Dividend

Recently, FirstService declared a quarterly dividend, which was paid on January 7. Shareholders recorded as of December 31 received a dividend of $0.25 per share. The ex-dividend date was also set for December 31. This transaction reflects an annualized dividend of $1.00, equating to a dividend yield of 0.54%. The company maintains a dividend payout ratio (DPR) of 41.67%.

Wall Street Analyst Insights

FirstService Profile

FirstService Corporation, alongside its subsidiaries, provides a range of residential and commercial property management services across the United States and Canada. The company operates in two primary sectors: FirstService Residential and FirstService Brands. The FirstService Residential segment specializes in services for private residential communities, which include condominiums, cooperatives, homeowner associations, master-planned communities, active adult, and lifestyle communities, in addition to various other residential developments.

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