Bank of New York Mellon Corp Purchases 3,449 Shares of FirstService Co. (NASDAQ:FSV)

Bank of New York Mellon Corp increased its stake in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,525 shares of the financial services provider's stock after purchasing an additional 3,449 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.09% of FirstService worth $7,155,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of FSV. Lincluden Management Ltd. boosted its holdings in FirstService by 10.4% in the 4th quarter. Lincluden Management Ltd. now owns 41,667 shares of the financial services provider's stock worth $7,548,000 after buying an additional 3,934 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of FirstService in the fourth quarter worth $308,000. Boston Financial Mangement LLC grew its position in shares of FirstService by 1.9% in the fourth quarter. Boston Financial Mangement LLC now owns 251,439 shares of the financial services provider's stock valued at $45,516,000 after purchasing an additional 4,766 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of FirstService by 57.4% during the 4th quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider's stock valued at $83,138,000 after purchasing an additional 166,996 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in FirstService by 20.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 10,122 shares of the financial services provider's stock worth $1,832,000 after purchasing an additional 1,742 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

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FirstService Price Performance

Shares of FSV stock traded up $2.79 during trading on Wednesday, hitting $170.80. The company had a trading volume of 117,621 shares, compared to its average volume of 92,955. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 57.50 and a beta of 1.12. 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's 50-day moving average is $176.06 and its two-hundred day moving average is $181.89.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be given a $0.275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from FirstService's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 0.64%. FirstService's payout ratio is 37.04%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FSV. StockNews.com lowered FirstService from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Raymond James boosted their price objective on shares of FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $201.67.

FirstService 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.