FirstService Co. (NASDAQ:FSV) Stock Holdings Cut by Geneva Capital Management LLC

Geneva Capital Management LLC reduced its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 237,908 shares of the financial services provider’s stock after selling 3,036 shares during the period. Geneva Capital Management LLC’s holdings in FirstService were worth $43,066,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FSV. Franklin Resources Inc. boosted 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 valued at $87,308,000 after purchasing an additional 389,129 shares in the last quarter. Raymond James Financial Inc. bought a new position in FirstService during the 4th quarter valued at $48,541,000. CIBC Asset Management Inc boosted its stake in FirstService by 57.4% during the 4th quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock valued at $83,138,000 after purchasing an additional 166,996 shares in the last quarter. Bank of Montreal Can lifted its position in shares of FirstService by 19.7% during the 3rd quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock valued at $69,992,000 after acquiring an additional 63,807 shares during the last quarter. Finally, Fiera Capital Corp lifted its position in shares of FirstService by 24.1% during the 4th quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider’s stock valued at $46,839,000 after acquiring an additional 50,265 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Raymond James increased their price objective on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.67.

FirstService Price Performance

Shares of NASDAQ:FSV opened at $176.87 on Thursday. FirstService Co. has a one year low of $141.26 and a one year high of $197.84. The stock has a fifty day moving average of $178.79 and a 200-day moving average of $182.52. The company has a market capitalization of $8.04 billion, a PE ratio of 59.55 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 announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio is presently 37.04%.

FirstService Company 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.