Alliancebernstein L.P. grew its stake in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 262.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,271 shares of the financial services provider's stock after acquiring an additional 8,881 shares during the period. Alliancebernstein L.P.'s holdings in FirstService were worth $2,221,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of FirstService by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,794,676 shares of the financial services provider's stock worth $325,100,000 after purchasing an additional 23,103 shares in the last quarter. Norges Bank bought a new stake in FirstService during the fourth quarter valued at $98,615,000. American Century Companies Inc. grew its position in FirstService by 36.2% during the fourth quarter. American Century Companies Inc. now owns 543,163 shares of the financial services provider's stock worth $98,380,000 after buying an additional 144,234 shares in the last quarter. Franklin Resources Inc. grew its position 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 buying an additional 389,129 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in 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 acquiring an additional 166,996 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.
Wall Street Analysts Forecast Growth
FSV has been the subject of several recent analyst reports. 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. StockNews.com cut FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. TD Securities boosted their price objective on shares of FirstService from $197.00 to $198.00 and gave the company a "hold" rating in a research report on Tuesday. Finally, Raymond James increased their target price on shares of FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $206.00.
Check Out Our Latest Research Report on FSV
FirstService Trading Up 0.7 %
Shares of NASDAQ FSV traded up $1.24 during midday trading on Tuesday, hitting $172.04. 128,200 shares of the company traded hands, compared to its average volume of 108,814. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The firm has a market cap of $7.82 billion, a P/E ratio of 57.93 and a beta of 1.04. The stock has a 50-day moving average price of $169.98 and a 200 day moving average price of $179.64. 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 company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were issued a dividend of $0.275 per share. This is an increase from FirstService's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.64%. FirstService's dividend payout ratio is 37.04%.
About FirstService
(
Free Report)
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.
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