Hillsdale Investment Management Inc. Acquires 48,990 Shares of FirstService Co. (NASDAQ:FSV)

Hillsdale Investment Management Inc. boosted its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 97,980.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,040 shares of the financial services provider’s stock after acquiring an additional 48,990 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.11% of FirstService worth $8,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FSV. Natixis Advisors LLC lifted its holdings in shares of FirstService by 4.7% in the third quarter. Natixis Advisors LLC now owns 23,812 shares of the financial services provider’s stock valued at $4,345,000 after purchasing an additional 1,068 shares in the last quarter. Swiss National Bank lifted its holdings in shares of FirstService by 0.8% in the third quarter. Swiss National Bank now owns 122,500 shares of the financial services provider’s stock valued at $22,418,000 after purchasing an additional 1,000 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in shares of FirstService by 7.3% in the third quarter. Pathstone Holdings LLC now owns 15,884 shares of the financial services provider’s stock valued at $2,898,000 after purchasing an additional 1,087 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of FirstService by 27.0% in the third quarter. Jennison Associates LLC now owns 4,791 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 1,018 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in shares of FirstService by 9.3% in the third quarter. King Luther Capital Management Corp now owns 33,284 shares of the financial services provider’s stock valued at $6,073,000 after purchasing an additional 2,835 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a report on Wednesday. Raymond James boosted their price target on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, FirstService has an average rating of “Moderate Buy” and a consensus target price of $201.67.

FirstService Price Performance

NASDAQ:FSV opened at $170.30 on Friday. 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 stock’s 50-day simple moving average is $175.68 and its 200 day simple moving average is $181.66. The company has a market cap of $7.74 billion, a P/E ratio of 57.34 and a beta of 1.12. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $197.84.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from FirstService’s previous quarterly dividend of $0.25. FirstService’s payout ratio is 37.04%.

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.