FirstService Co. (NASDAQ:FSV) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 57.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 457,735 shares of the financial services provider's stock after buying an additional 166,996 shares during the quarter. CIBC Asset Management Inc owned approximately 1.01% of FirstService worth $83,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FSV. Versant Capital Management Inc purchased a new stake in shares of FirstService in the 4th quarter valued at $29,000. Trust Co. of Vermont purchased a new stake in FirstService during the 4th quarter worth about $46,000. Wilmington Savings Fund Society FSB purchased a new stake in FirstService during the 3rd quarter worth about $53,000. Venturi Wealth Management LLC purchased a new stake in FirstService during the 3rd quarter worth about $66,000. Finally, Blue Trust Inc. increased its holdings in 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 purchasing an additional 446 shares during the period. Hedge funds and other institutional investors own 69.35% of the company's stock.

Analyst Upgrades and Downgrades

FSV has been the subject of several analyst reports. StockNews.com raised FirstService from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Raymond James upped their price objective on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $201.67.

FirstService Stock Performance

Shares of NASDAQ FSV traded up $0.72 during trading hours on Thursday, reaching $174.81. The stock had a trading volume of 83,318 shares, compared to its average volume of 129,276. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 58.86 and a beta of 1.06. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The firm has a 50-day moving average of $180.21 and a 200-day moving average of $182.00.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 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 boost from FirstService's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.63%. FirstService's dividend payout ratio is 33.67%.

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.