Rhumbline Advisers Decreases Stake in FirstService Co. (NASDAQ:FSV)

Rhumbline Advisers cut its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,187 shares of the financial services provider’s stock after selling 134 shares during the period. Rhumbline Advisers’ holdings in FirstService were worth $396,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FSV. Franklin Resources Inc. increased its position in shares of FirstService by 486.3% during the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock valued at $87,308,000 after acquiring an additional 389,129 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of FirstService by 19.7% in the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock valued at $69,992,000 after purchasing an additional 63,807 shares in the last quarter. Fiera Capital Corp grew its holdings 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 in the last quarter. Jennison Associates LLC grew its holdings 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 in the last quarter. Finally, Canoe Financial LP grew its holdings in FirstService by 1,451.8% during the 4th quarter. Canoe Financial LP now owns 29,018 shares of the financial services provider’s stock worth $5,253,000 after acquiring an additional 27,148 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FSV has been the subject of several recent analyst reports. Raymond James boosted their price objective on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. StockNews.com cut shares of FirstService from a “buy” rating to a “hold” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.67.

FirstService Price Performance

NASDAQ:FSV opened at $170.79 on Friday. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 57.51 and a beta of 1.12. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average is $178.15 and its two-hundred day moving average is $182.44.

FirstService Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.275 per share. This is a positive change from FirstService’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Monday, March 31st. FirstService’s dividend payout ratio is presently 37.04%.

FirstService 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.