Raymond James Financial Inc. Makes New Investment in FirstService Co. (NASDAQ:FSV)

Raymond James Financial Inc. bought a new position in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 268,150 shares of the financial services provider's stock, valued at approximately $48,541,000. Raymond James Financial Inc. owned about 0.59% of FirstService at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Versant Capital Management Inc purchased a new stake in shares of FirstService in the 4th quarter valued at $29,000. Trust Co. of Vermont purchased a new stake in shares of FirstService in the 4th quarter valued at $46,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of FirstService in the 3rd quarter valued at $53,000. Venturi Wealth Management LLC purchased a new stake in shares of FirstService in the 3rd quarter valued at $66,000. Finally, Blue Trust Inc. boosted its holdings in shares of FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock valued at $133,000 after acquiring an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Stock Performance

FSV opened at $165.12 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. The firm has a fifty day moving average price of $177.84 and a 200 day moving average price of $182.44. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. The stock has a market cap of $7.50 billion, a P/E ratio of 55.60 and a beta of 1.12.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be paid a $0.275 dividend. This is a boost from FirstService's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, March 31st. FirstService's payout ratio is currently 37.04%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Raymond James upped 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. StockNews.com downgraded shares of FirstService from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, FirstService currently has a consensus rating of "Moderate Buy" and an average price target of $201.67.

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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.

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