Wellington Management Group LLP Decreases Stock Position in FirstService Co. (NASDAQ:FSV)

Wellington Management Group LLP cut its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,671 shares of the financial services provider's stock after selling 4,942 shares during the quarter. Wellington Management Group LLP owned about 0.13% of FirstService worth $10,440,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc purchased a new position in FirstService during the fourth quarter worth about $29,000. Trust Co. of Vermont purchased a new position in shares of FirstService during the 4th quarter worth approximately $46,000. Wilmington Savings Fund Society FSB acquired a new stake in FirstService in the 3rd quarter valued at approximately $53,000. Blue Trust Inc. raised its position in FirstService by 158.2% in the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 446 shares during the period. Finally, Gitterman Wealth Management LLC acquired a new position in FirstService during the fourth quarter worth $201,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FSV. StockNews.com downgraded FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Raymond James boosted their price target on shares of FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $201.67.

FirstService Price Performance

NASDAQ FSV traded up $2.41 during mid-day trading on Tuesday, hitting $171.23. The stock had a trading volume of 16,902 shares, compared to its average volume of 107,104. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 57.63 and a beta of 1.04. 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 52-week low of $141.26 and a 52-week high of $197.84. The company has a 50 day simple moving average of $170.26 and a 200 day simple moving average of $180.00.

FirstService Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.64%. This is a positive change from FirstService's previous quarterly dividend of $0.25. FirstService's dividend payout ratio (DPR) is presently 37.04%.

FirstService Company 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.