Financiere des Professionnels Fonds d investissement inc. Sells 5,819 Shares of FirstService Co. (NASDAQ:FSV)

Financiere des Professionnels Fonds d investissement inc. decreased its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 52.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,185 shares of the financial services provider’s stock after selling 5,819 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in FirstService were worth $939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSV. Franklin Resources Inc. raised 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 worth $87,308,000 after acquiring an additional 389,129 shares during the period. Bank of Montreal Can raised its stake in FirstService by 19.7% during the 3rd quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock worth $69,992,000 after acquiring an additional 63,807 shares during the period. Fiera Capital Corp raised its stake in FirstService by 24.1% during the 4th quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider’s stock worth $46,839,000 after acquiring an additional 50,265 shares during the period. Boston Financial Mangement LLC raised its stake in FirstService by 25.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider’s stock worth $45,008,000 after acquiring an additional 49,790 shares during the period. Finally, Jennison Associates LLC raised its stake in FirstService by 686.9% during the 4th quarter. Jennison Associates LLC now owns 37,702 shares of the financial services provider’s stock worth $6,827,000 after acquiring an additional 32,911 shares during the period. Institutional investors own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Raymond James lifted their price objective on shares of FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, FirstService currently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

FirstService Trading Down 0.2 %

Shares of FSV opened at $175.36 on Monday. The company’s fifty day moving average is $181.51 and its 200 day moving average is $182.07. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The stock has a market capitalization of $7.94 billion, a PE ratio of 59.04 and a beta of 1.06. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75.

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 given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.63%. The ex-dividend date is Monday, March 31st. This is a boost from FirstService’s previous quarterly dividend of $0.25. FirstService’s payout ratio is currently 33.67%.

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.