Kornitzer Capital Management Inc. KS Decreases Position in FirstService Co. (NASDAQ:FSV)

Kornitzer Capital Management Inc. KS lessened its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 36.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,369 shares of the financial services provider’s stock after selling 1,366 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in FirstService were worth $429,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FSV. Versant Capital Management Inc purchased a new position in shares of FirstService in the fourth quarter valued at about $29,000. Trust Co. of Vermont purchased a new position in shares of FirstService in the fourth quarter valued at about $46,000. Wilmington Savings Fund Society FSB purchased a new position in shares of FirstService in the third quarter valued at about $53,000. Venturi Wealth Management LLC purchased a new position in shares of FirstService in the third quarter valued at about $66,000. Finally, Blue Trust Inc. increased its position in shares of FirstService by 158.2% in the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 446 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

Shares of NASDAQ:FSV opened at $174.09 on Thursday. 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 firm has a fifty day moving average price of $180.52 and a 200 day moving average price of $182.05. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 58.62 and a beta of 1.06.

FirstService Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, March 31st will be paid a $0.275 dividend. 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 0.63%. The ex-dividend date of this dividend is Monday, March 31st. FirstService’s dividend payout ratio (DPR) is presently 37.04%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FSV shares. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Raymond James boosted their price target on shares of FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $201.67.

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.