Polen Capital Management LLC Acquires 4,634 Shares of FirstService Co. (NASDAQ:FSV)

Polen Capital Management LLC increased its stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 16.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,771 shares of the financial services provider's stock after acquiring an additional 4,634 shares during the quarter. Polen Capital Management LLC owned approximately 0.07% of FirstService worth $5,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FSV. Franklin Resources Inc. raised its holdings in FirstService by 486.3% during the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider's stock worth $87,308,000 after buying an additional 389,129 shares during the last quarter. Bank of Montreal Can raised its holdings in FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider's stock worth $69,992,000 after buying an additional 63,807 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in FirstService by 5.3% during the third quarter. JPMorgan Chase & Co. now owns 200,776 shares of the financial services provider's stock worth $36,634,000 after buying an additional 10,191 shares during the last quarter. CIBC Asset Management Inc raised its holdings 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 worth $83,138,000 after buying an additional 166,996 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in FirstService by 253.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,351 shares of the financial services provider's stock worth $3,503,000 after buying an additional 13,876 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Raymond James upped their price objective 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 upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Wednesday. Two investment 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $201.67.

FirstService Stock Performance

FSV traded down $0.69 during trading on Thursday, hitting $169.77. 127,142 shares of the company traded hands, compared to its average volume of 93,440. The firm has a market cap of $7.72 billion, a P/E ratio of 57.16 and a beta of 1.12. The stock's fifty day moving average is $175.92 and its 200 day moving average is $181.81. 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 one year low of $141.26 and a one year high of $197.84.

FirstService Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be given a dividend of $0.275 per share. The ex-dividend date is Monday, March 31st. This represents a $1.10 annualized dividend and a yield of 0.65%. This is a positive change from FirstService's previous quarterly dividend of $0.25. FirstService's dividend payout ratio is presently 37.04%.

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.