Scotia Capital Inc. Buys New Stake in FirstService Co. (NASDAQ:FSV)

Scotia Capital Inc. purchased a new position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,710 shares of the financial services provider’s stock, valued at approximately $5,016,000. Scotia Capital Inc. owned 0.06% of FirstService as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Versant Capital Management Inc acquired a new stake in shares of FirstService in the 4th quarter valued at $29,000. Trust Co. of Vermont bought a new position in FirstService during the 4th quarter valued at about $46,000. Wilmington Savings Fund Society FSB acquired a new position in FirstService in the third quarter valued at about $53,000. Blue Trust Inc. grew its stake in FirstService by 158.2% during the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock worth $133,000 after buying an additional 446 shares during the last quarter. Finally, Gitterman Wealth Management LLC acquired a new stake in shares of FirstService during the fourth quarter worth approximately $201,000. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Stock Up 1.3 %

Shares of FSV opened at $166.54 on Friday. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 56.07 and a beta of 1.04. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. 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 business’s fifty day moving average price is $170.36 and its two-hundred day moving average price is $180.09.

FirstService Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.66%. This is a positive change from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 31st. FirstService’s dividend payout ratio (DPR) is presently 37.04%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FSV. StockNews.com downgraded FirstService from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Raymond James increased their target price on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock 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.