Catawba River Capital Trims Position in FirstService Co. (NASDAQ:FSV)

Catawba River Capital lessened its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,223 shares of the financial services provider’s stock after selling 81 shares during the period. FirstService comprises about 5.0% of Catawba River Capital’s holdings, making the stock its 8th largest holding. Catawba River Capital’s holdings in FirstService were worth $8,367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Berry Wealth Group LP increased its stake in shares of FirstService by 5.4% in the fourth quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider’s stock worth $323,000 after buying an additional 91 shares during the period. HighTower Advisors LLC boosted its position in shares of FirstService by 3.5% in the 3rd quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 98 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of FirstService by 3.2% in the 3rd quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider’s stock worth $643,000 after buying an additional 110 shares during the last quarter. Versant Capital Management Inc purchased a new position in FirstService during the fourth quarter valued at $29,000. Finally, Trust Co. of Vermont bought a new position in shares of FirstService during the fourth quarter valued at $46,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Up 2.3 %

FSV stock opened at $177.00 on Tuesday. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The stock has a market cap of $8.01 billion, a P/E ratio of 59.60 and a beta of 1.06. The business’s 50-day moving average price is $182.99 and its 200-day moving average price is $182.09. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

FirstService Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, March 31st will be paid a $0.275 dividend. The ex-dividend date is Monday, March 31st. This is a boost from FirstService’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.62%. FirstService’s dividend payout ratio is 33.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus raised their price target on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. TD Securities boosted their price objective on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Scotiabank raised their target price on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Finally, Raymond James boosted their target price on shares of FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.67.

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.