Clearbridge Investments LLC Sells 3,587 Shares of FirstService Co. (NASDAQ:FSV)

Clearbridge Investments LLC reduced its stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 225,761 shares of the financial services provider's stock after selling 3,587 shares during the period. Clearbridge Investments LLC owned 0.50% of FirstService worth $40,867,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FSV. Versant Capital Management Inc acquired a new stake in FirstService during the fourth quarter valued at $29,000. Trust Co. of Vermont purchased a new stake in shares of FirstService during the 4th quarter worth about $46,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of FirstService during the 3rd quarter valued at about $53,000. 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 in the last quarter. Finally, Gitterman Wealth Management LLC acquired a new position in FirstService in the fourth quarter worth approximately $201,000. 69.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on FSV. Raymond James boosted their target price on shares of FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. StockNews.com cut shares of FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. 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, FirstService presently has an average rating of "Moderate Buy" and an average target price of $201.67.

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FirstService Stock Performance

Shares of FirstService stock traded down $6.11 on Friday, reaching $160.90. The stock had a trading volume of 118,289 shares, compared to its average volume of 104,333. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. The business's 50-day moving average price is $173.08 and its two-hundred day moving average price is $180.95. The stock has a market cap of $7.31 billion, a P/E ratio of 54.18 and a beta of 1.04. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be given a dividend of $0.275 per share. This is a positive change from FirstService's previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a yield of 0.68%. FirstService's payout ratio 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.