Raymond James Financial Inc. Acquires New Position in FirstService Co. (NASDAQ:FSV)

Raymond James Financial Inc. acquired a new stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 268,150 shares of the financial services provider's stock, valued at approximately $48,541,000. Raymond James Financial Inc. owned approximately 0.59% of FirstService as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. grew its position 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 last quarter. JPMorgan Chase & Co. boosted its stake in FirstService by 5.3% during the third quarter. JPMorgan Chase & Co. now owns 200,776 shares of the financial services provider's stock worth $36,634,000 after acquiring an additional 10,191 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of 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 purchasing an additional 166,996 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of FirstService by 253.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 19,351 shares of the financial services provider's stock worth $3,503,000 after purchasing an additional 13,876 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in FirstService by 65.4% during the third quarter. Stifel Financial Corp now owns 21,103 shares of the financial services provider's stock valued at $3,851,000 after purchasing an additional 8,348 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on FSV shares. Raymond James lifted their target price 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. Scotiabank lowered their price objective on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research report on Thursday. Finally, StockNews.com lowered FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $203.33.

FirstService Trading Up 0.0 %

FSV stock traded up $0.08 during trading on Friday, reaching $172.03. 97,818 shares of the stock were exchanged, compared to its average volume of 108,583. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 57.92 and a beta of 1.04. The business has a 50 day moving average price of $170.08 and a 200-day moving average price of $179.74. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.64%. The ex-dividend date was Monday, March 31st. This is an increase from FirstService's previous quarterly dividend of $0.25. FirstService's dividend payout ratio (DPR) is 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.