Pictet Asset Management Holding SA Has $4.15 Million Stock Holdings in FirstService Co. (NASDAQ:FSV)

Pictet Asset Management Holding SA grew its position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 14.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,898 shares of the financial services provider's stock after buying an additional 2,886 shares during the period. Pictet Asset Management Holding SA owned about 0.05% of FirstService worth $4,146,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of FirstService during the fourth quarter valued at $98,615,000. Franklin Resources Inc. boosted 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 valued at $87,308,000 after purchasing an additional 389,129 shares during the period. Raymond James Financial Inc. bought a new position in FirstService in the 4th quarter worth about $48,541,000. CIBC Asset Management Inc increased its stake in shares of FirstService by 57.4% in the fourth quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider's stock valued at $83,138,000 after purchasing an additional 166,996 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of FirstService by 36.2% during the fourth 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. Institutional investors and hedge funds own 69.35% of the company's stock.

Analyst Upgrades and Downgrades

FSV has been the subject of several recent analyst reports. Raymond James increased their price target on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. StockNews.com lowered shares of FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, FirstService currently has an average rating of "Moderate Buy" and an average price target of $201.67.

FirstService Price Performance

FirstService stock traded up $9.21 during mid-day trading on Wednesday, hitting $168.14. 222,115 shares of the company were exchanged, compared to its average volume of 106,248. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $197.84. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The business has a fifty day moving average of $170.98 and a 200 day moving average of $180.32. The company has a market capitalization of $7.64 billion, a PE ratio of 56.61 and a beta of 1.04.

FirstService Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.65%. This is a positive change from FirstService's previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 31st. FirstService's dividend payout ratio (DPR) is presently 37.04%.

FirstService 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.