FirstService Co. (NASDAQ:FSV) Stock Position Decreased by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 1.6% during the fourth quarter, Holdings Channel reports. The firm owned 225,761 shares of the financial services provider’s stock after selling 3,587 shares during the quarter. Clearbridge Investments LLC’s holdings in FirstService were worth $40,867,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Versant Capital Management Inc acquired a new position in shares of FirstService in the fourth quarter worth about $29,000. Trust Co. of Vermont acquired a new position in FirstService in the 4th quarter worth approximately $46,000. Wilmington Savings Fund Society FSB purchased a new position in FirstService during the 3rd quarter worth approximately $53,000. Blue Trust Inc. raised its stake in FirstService by 158.2% during the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 446 shares during the period. Finally, Gitterman Wealth Management LLC purchased a new stake in shares of FirstService in the fourth quarter valued at $201,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Trading Up 1.6 %

NASDAQ:FSV opened at $168.63 on Wednesday. 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 company has a market capitalization of $7.66 billion, a P/E ratio of 56.78 and a beta of 1.12. The stock’s 50 day moving average price is $174.21 and its 200 day moving average price is $181.23. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84.

FirstService Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, March 31st. This is a positive change from FirstService’s previous quarterly dividend of $0.25. FirstService’s payout ratio is presently 37.04%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FSV shares. StockNews.com downgraded FirstService from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Raymond James raised their price target 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.