DAVENPORT & Co LLC Grows Holdings in FirstService Co. (NASDAQ:FSV)

DAVENPORT & Co LLC boosted its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 77.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,074 shares of the financial services provider's stock after acquiring an additional 2,217 shares during the quarter. DAVENPORT & Co LLC's holdings in FirstService were worth $918,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Versant Capital Management Inc bought a new position in shares of FirstService in the 4th quarter worth about $29,000. Trust Co. of Vermont bought a new stake in FirstService in the fourth quarter valued at $46,000. Wilmington Savings Fund Society FSB acquired a new position in shares of FirstService during the third quarter valued at about $53,000. Venturi Wealth Management LLC bought a new position in shares of FirstService during the 3rd quarter worth about $66,000. Finally, Blue Trust Inc. grew its stake in shares of FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock valued at $133,000 after buying an additional 446 shares during the period. Institutional investors own 69.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FSV shares. Stifel Nicolaus upped their price objective on shares of FirstService from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, October 21st. StockNews.com upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Scotiabank boosted their target price on FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 15th. Raymond James lifted their price target on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, TD Securities lifted their price objective on shares of FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.67.

FirstService Stock Performance

Shares of NASDAQ:FSV traded up $3.97 during trading on Monday, hitting $177.00. 128,054 shares of the company were exchanged, compared to its average volume of 135,183. The company has a market cap of $8.01 billion, a PE ratio of 59.60 and a beta of 1.06. 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 stock has a 50 day moving average of $182.99 and a 200 day moving average of $182.09.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders 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 represents a $1.10 annualized dividend and a yield of 0.62%. This is an increase from FirstService's previous quarterly dividend of $0.25. FirstService's dividend payout ratio (DPR) is currently 37.04%.

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.