Norges Bank Invests $98.62 Million in FirstService Co. (NASDAQ:FSV)

Norges Bank acquired a new stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 545,089 shares of the financial services provider's stock, valued at approximately $98,615,000. Norges Bank owned 1.20% of FirstService as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc bought a new position in shares of FirstService in the 4th quarter worth approximately $29,000. Trust Co. of Vermont purchased a new stake in FirstService during the fourth quarter valued at approximately $46,000. Wilmington Savings Fund Society FSB bought a new position in FirstService in the third quarter worth approximately $53,000. Blue Trust Inc. boosted its stake in shares of FirstService by 158.2% during the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock worth $133,000 after acquiring an additional 446 shares during the last quarter. Finally, Gitterman Wealth Management LLC bought a new stake in shares of FirstService during the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Price Performance

Shares of NASDAQ FSV traded down $6.11 during mid-day trading on Friday, reaching $160.90. The company's stock had a trading volume of 118,289 shares, compared to its average volume of 104,333. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. The stock has a fifty day moving average of $173.08 and a two-hundred day moving average of $180.95. The firm has a market capitalization of $7.31 billion, a PE ratio of 54.18 and a beta of 1.04.

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FirstService Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.275 per share. This is a positive change from FirstService's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Monday, March 31st. FirstService's dividend payout ratio (DPR) is 37.04%.

Analysts Set New Price Targets

FSV has been the topic of several analyst reports. StockNews.com downgraded FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Raymond James lifted their price objective on FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.