Arrowstreet Capital Limited Partnership Boosts Position in FirstService Co. (NASDAQ:FSV)

Arrowstreet Capital Limited Partnership boosted its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 244.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 172,258 shares of the financial services provider’s stock after purchasing an additional 122,222 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in FirstService were worth $31,165,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FSV. Versant Capital Management Inc bought a new stake in shares of FirstService during the fourth quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new position in FirstService during the 4th quarter worth $46,000. Wilmington Savings Fund Society FSB bought a new stake in FirstService during the 3rd quarter valued at $53,000. Blue Trust Inc. lifted its holdings in shares of FirstService by 158.2% in the 4th 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 period. Finally, Gitterman Wealth Management LLC bought a new position in shares of FirstService during the 4th quarter worth $201,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Price Performance

FSV opened at $171.49 on Thursday. The firm has a market capitalization of $7.79 billion, a PE ratio of 57.74 and a beta of 1.04. The business’s 50-day moving average is $173.93 and its two-hundred day moving average is $181.16. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79.

FirstService Increases Dividend

The company 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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.64%. 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 37.04%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FSV. Raymond James lifted their price objective on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. StockNews.com cut shares of FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, FirstService has an average rating of “Moderate Buy” and a consensus price target 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.