Lincluden Management Ltd. Acquires 3,934 Shares of FirstService Co. (NASDAQ:FSV)

Lincluden Management Ltd. increased its position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,667 shares of the financial services provider's stock after purchasing an additional 3,934 shares during the quarter. FirstService accounts for approximately 0.9% of Lincluden Management Ltd.'s investment portfolio, making the stock its 24th largest position. Lincluden Management Ltd. owned 0.09% of FirstService worth $7,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FSV. Berry Wealth Group LP increased its stake in shares of FirstService by 5.4% in the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider's stock valued at $323,000 after purchasing an additional 91 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of FirstService by 3.5% in the 3rd quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider's stock valued at $533,000 after purchasing an additional 98 shares in the last quarter. Raymond James Trust N.A. boosted its position in FirstService by 3.2% in the third quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider's stock valued at $643,000 after buying an additional 110 shares in the last quarter. Versant Capital Management Inc bought a new stake in FirstService during the 4th quarter worth $29,000. Finally, Trust Co. of Vermont bought a new stake in shares of FirstService during the fourth quarter worth about $46,000. Institutional investors own 69.35% of the company's stock.

FirstService Trading Up 0.1 %

Shares of FirstService stock traded up $0.23 during midday trading on Friday, reaching $176.43. The company had a trading volume of 222,511 shares, compared to its average volume of 127,846. The stock has a fifty day moving average price of $179.27 and a 200 day moving average price of $182.23. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The firm has a market cap of $7.99 billion, a PE ratio of 59.40 and a beta of 1.06. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, March 31st will be given a $0.275 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from FirstService's previous quarterly dividend of $0.25. FirstService's payout ratio is 37.04%.

Wall Street Analysts Forecast Growth

Separately, Raymond James raised their price objective on shares of FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $201.67.

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.