State of New Jersey Common Pension Fund D Raises Stock Holdings in FirstService Co. (NASDAQ:FSV)

State of New Jersey Common Pension Fund D grew its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 20.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,122 shares of the financial services provider's stock after purchasing an additional 1,742 shares during the period. State of New Jersey Common Pension Fund D's holdings in FirstService were worth $1,832,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of FSV. Franklin Resources Inc. increased its stake in FirstService by 486.3% during the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider's stock worth $87,308,000 after purchasing an additional 389,129 shares during the period. Bank of Montreal Can increased its stake in FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider's stock worth $69,992,000 after purchasing an additional 63,807 shares during the period. Fiera Capital Corp increased its stake in FirstService by 24.1% during the fourth quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider's stock worth $46,839,000 after purchasing an additional 50,265 shares during the period. Boston Financial Mangement LLC increased its stake in FirstService by 25.3% during the third quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider's stock worth $45,008,000 after purchasing an additional 49,790 shares during the period. Finally, Jennison Associates LLC grew its position in shares of FirstService by 686.9% during the fourth quarter. Jennison Associates LLC now owns 37,702 shares of the financial services provider's stock worth $6,827,000 after buying an additional 32,911 shares in the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Up 0.1 %

FSV traded up $0.23 on Friday, reaching $176.43. The company's stock had a trading volume of 222,511 shares, compared to its average volume of 127,846. The stock has a 50 day moving average of $179.27 and a two-hundred day moving average of $182.23. 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 company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 59.40 and a beta of 1.06. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84.

FirstService Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Raymond James boosted their price objective on FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $201.67.

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.