Geode Capital Management LLC Raises Stock Holdings in FirstService Co. (NASDAQ:FSV)

Geode Capital Management LLC raised its holdings in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 23.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 297,037 shares of the financial services provider's stock after purchasing an additional 56,434 shares during the quarter. Geode Capital Management LLC owned 0.66% of FirstService worth $55,526,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Versant Capital Management Inc acquired a new stake in shares of FirstService in the fourth quarter valued at $29,000. Trust Co. of Vermont purchased a new position in FirstService during the 4th quarter valued at about $46,000. Wilmington Savings Fund Society FSB acquired a new position in FirstService in the 3rd quarter valued at about $53,000. Blue Trust Inc. increased its stake in FirstService by 158.2% during the fourth 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. Finally, Gitterman Wealth Management LLC acquired a new stake in shares of FirstService during the fourth quarter worth about $201,000. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Stock Up 0.0 %

FSV traded up $0.08 on Friday, reaching $172.03. The company's stock had a trading volume of 97,818 shares, compared to its average volume of 108,510. The company has a quick ratio of 1.79, a current ratio of 1.75 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 stock has a 50 day moving average of $170.08 and a two-hundred day moving average of $179.74. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 57.92 and a beta of 1.04.

FirstService Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a dividend of $0.275 per share. 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%. The ex-dividend date of this dividend was Monday, March 31st. FirstService's dividend payout ratio (DPR) is currently 37.04%.

Wall Street Analysts Forecast Growth

FSV has been the topic of several recent research reports. Scotiabank cut their target price on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a research note on Thursday. StockNews.com lowered FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Raymond James boosted their target price on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $203.33.

About FirstService

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.