Arrowstreet Capital Limited Partnership Acquires 122,222 Shares of FirstService Co. (NASDAQ:FSV)

Arrowstreet Capital Limited Partnership grew its stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 244.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 172,258 shares of the financial services provider's stock after purchasing an additional 122,222 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.38% of FirstService worth $31,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in FirstService during the 4th quarter valued at about $29,000. Trust Co. of Vermont bought a new stake in shares of FirstService in the 4th quarter worth approximately $46,000. Wilmington Savings Fund Society FSB purchased a new position in shares of FirstService during the third quarter valued at approximately $53,000. Blue Trust Inc. lifted its stake in FirstService by 158.2% in the fourth 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 period. Finally, Gitterman Wealth Management LLC purchased a new stake in FirstService in the fourth quarter worth $201,000. Institutional investors own 69.35% of the company's stock.

FirstService Stock Up 0.4 %

NASDAQ FSV traded up $0.70 during trading hours on Monday, reaching $161.60. 283,893 shares of the company's stock traded hands, compared to its average volume of 105,049. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $197.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. The firm has a 50-day simple moving average of $172.59 and a 200 day simple moving average of $180.82. The firm has a market cap of $7.34 billion, a PE ratio of 54.41 and a beta of 1.04.

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FirstService Increases Dividend

The firm also recently announced 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 0.68%. This is a positive change from FirstService's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. FirstService's dividend payout ratio (DPR) is presently 37.04%.

Analysts Set New Price Targets

Several brokerages have commented on FSV. Raymond James upped their price objective on shares of FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. StockNews.com downgraded shares of FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. 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 stock has a consensus 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.