Mufg Securities Canada LTD. lifted its holdings in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 72.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,405 shares of the financial services provider's stock after acquiring an additional 26,669 shares during the period. Mufg Securities Canada LTD. owned approximately 0.14% of FirstService worth $11,478,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. raised its stake in shares of FirstService by 486.3% during the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider's stock valued at $87,308,000 after purchasing an additional 389,129 shares during the period. Raymond James Financial Inc. purchased a new stake in FirstService during the 4th quarter worth $48,541,000. CIBC Asset Management Inc lifted its holdings in FirstService by 57.4% in the 4th 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 in the last quarter. American Century Companies Inc. boosted its position in FirstService by 36.2% in the 4th quarter. American Century Companies Inc. now owns 543,163 shares of the financial services provider's stock valued at $98,380,000 after buying an additional 144,234 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in FirstService by 19.7% during the 3rd quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider's stock valued at $69,992,000 after purchasing an additional 63,807 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.
Wall Street Analysts Forecast Growth
FSV has been the subject of several research analyst reports. StockNews.com cut FirstService from a "buy" rating to a "hold" rating in a research note on Thursday. Raymond James increased their price objective on shares of FirstService from $215.00 to $225.00 and gave the company 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $201.67.
Get Our Latest Research Report on FSV
FirstService Stock Performance
Shares of NASDAQ FSV traded down $2.86 during midday trading on Friday, hitting $166.05. The company's stock had a trading volume of 168,178 shares, compared to its average volume of 102,204. The firm has a market cap of $7.55 billion, a P/E ratio of 55.91 and a beta of 1.12. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $197.84. The firm's fifty day moving average price is $174.82 and its 200-day moving average price is $181.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75.
FirstService Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be paid a dividend of $0.275 per share. This is an increase from FirstService's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Monday, March 31st. FirstService's dividend payout ratio is presently 37.04%.
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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