Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 417,487 shares of the financial services provider's stock after selling 49,244 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.92% of FirstService worth $75,529,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in shares of FirstService by 486.3% in the 3rd quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider's stock valued at $87,308,000 after buying an additional 389,129 shares during the period. CIBC Asset Management Inc raised its position in FirstService by 57.4% during the fourth quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider's stock valued at $83,138,000 after acquiring an additional 166,996 shares in the last quarter. Bank of Montreal Can lifted its holdings in FirstService by 19.7% in the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider's stock valued at $69,992,000 after acquiring an additional 63,807 shares during the period. Raymond James Financial Inc. purchased a new stake in FirstService in the 4th quarter worth approximately $48,541,000. Finally, Fiera Capital Corp grew its stake in shares of FirstService by 24.1% during the 4th quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider's stock worth $46,839,000 after purchasing an additional 50,265 shares during the period. Hedge funds and other institutional investors own 69.35% of the company's stock.
FirstService Price Performance
FSV stock traded up $5.79 during trading on Friday, hitting $165.45. The stock had a trading volume of 226,147 shares, compared to its average volume of 138,299. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The company's 50-day moving average price is $176.48 and its two-hundred day moving average price is $182.01. 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 stock has a market capitalization of $7.52 billion, a P/E ratio of 55.71 and a beta of 1.12.
FirstService Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be paid 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 dividend on an annualized basis and a dividend yield of 0.66%. FirstService's payout ratio is currently 37.04%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on FSV. Raymond James increased their price target 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 cut FirstService from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.67.
View Our Latest Stock Report on FirstService
FirstService Company Profile
(
Free Report)
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.
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