FirstService Co. (NASDAQ:FSV) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,939 shares of the financial services provider's stock after selling 78,491 shares during the period. Bank of Montreal Can owned about 0.68% of FirstService worth $56,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in FirstService by 9.4% in the fourth quarter. Russell Investments Group Ltd. now owns 41,061 shares of the financial services provider's stock valued at $7,434,000 after acquiring an additional 3,524 shares during the period. Aviva PLC bought a new position in FirstService during the 4th quarter worth $4,119,000. Geode Capital Management LLC increased its position in FirstService by 23.5% in the fourth quarter. Geode Capital Management LLC now owns 297,037 shares of the financial services provider's stock worth $55,526,000 after buying an additional 56,434 shares during the period. National Bank of Canada FI lifted its stake in FirstService by 34.4% in the fourth quarter. National Bank of Canada FI now owns 328,780 shares of the financial services provider's stock valued at $59,605,000 after buying an additional 84,069 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of FirstService by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider's stock worth $100,632,000 after acquiring an additional 86,909 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Price Performance

Shares of NASDAQ FSV traded up $2.31 during mid-day trading on Tuesday, reaching $171.13. 23,760 shares of the company traded hands, compared to its average volume of 107,131. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The firm has a market cap of $7.78 billion, a PE ratio of 57.63 and a beta of 1.04. The stock has a fifty day simple moving average of $170.26 and a 200-day simple moving average of $180.00. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.10 annualized dividend and a yield of 0.64%. This is a boost from FirstService's previous quarterly dividend of $0.25. FirstService's dividend payout ratio (DPR) is currently 37.04%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Raymond James lifted their price objective on shares of FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. StockNews.com downgraded FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.