King Luther Capital Management Corp lifted its position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 7.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,664 shares of the financial services provider's stock after buying an additional 2,380 shares during the quarter. King Luther Capital Management Corp owned about 0.08% of FirstService worth $6,456,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Franklin Resources Inc. increased its stake in FirstService by 486.3% during the 3rd quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider's stock worth $87,308,000 after acquiring an additional 389,129 shares during the period. Bank of Montreal Can increased its position in shares of FirstService by 19.7% in the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider's stock worth $69,992,000 after purchasing an additional 63,807 shares during the period. JPMorgan Chase & Co. raised its stake in FirstService by 5.3% in the third quarter. JPMorgan Chase & Co. now owns 200,776 shares of the financial services provider's stock valued at $36,634,000 after purchasing an additional 10,191 shares in the last quarter. CIBC Asset Management Inc lifted its position 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 purchasing an additional 166,996 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake 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 in the last quarter. Institutional investors own 69.35% of the company's stock.
FirstService Stock Performance
Shares of FirstService stock opened at $165.12 on Wednesday. The company's 50 day moving average price is $177.84 and its two-hundred day moving average price is $182.44. The firm has a market capitalization of $7.50 billion, a P/E ratio of 55.60 and a beta of 1.12. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. 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 disclosed 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 dividend on an annualized basis and a yield of 0.67%. This is a positive change from FirstService's previous quarterly dividend of $0.25. FirstService's payout ratio is currently 37.04%.
Analysts Set New Price Targets
Several equities analysts have recently commented on FSV shares. Raymond James boosted their target price 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. StockNews.com downgraded shares of FirstService from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, FirstService currently has an average rating of "Moderate Buy" and a consensus price target of $201.67.
Read Our Latest Stock Analysis on FirstService
About FirstService
(
Free Report)
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.
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