T. Rowe Price Investment Management Inc. Has $232.66 Million Position in FirstService Co. (NASDAQ:FSV)

T. Rowe Price Investment Management Inc. lowered its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,285,283 shares of the financial services provider's stock after selling 122,610 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.84% of FirstService worth $232,662,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Versant Capital Management Inc bought a new position in FirstService during the 4th quarter valued at $29,000. Trust Co. of Vermont bought a new position in FirstService during the fourth quarter valued at about $46,000. Wilmington Savings Fund Society FSB acquired a new position in FirstService during the third quarter worth about $53,000. Natixis grew its holdings in FirstService by 5,511.1% during the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after acquiring an additional 496 shares during the period. Finally, Blue Trust Inc. raised its position in FirstService by 158.2% in the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock worth $133,000 after acquiring an additional 446 shares in the last quarter. Institutional investors own 69.35% of the company's stock.

FirstService Trading Down 0.5 %

FirstService stock traded down $0.91 during trading hours on Friday, reaching $170.93. 98,108 shares of the company's stock traded hands, compared to its average volume of 108,701. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The firm's 50 day moving average is $169.78 and its 200-day moving average is $179.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 57.55 and a beta of 1.04.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were paid 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 is presently 37.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FSV shares. TD Securities lifted their price objective on shares of FirstService from $197.00 to $198.00 and gave the stock a "hold" rating in a research note on Tuesday. Raymond James boosted their price target on shares of FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Scotiabank cut their price objective on FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a report on Thursday, April 17th. Finally, StockNews.com downgraded FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $206.00.

About FirstService

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.