StockNews.com Upgrades FirstService (NASDAQ:FSV) to Buy

StockNews.com upgraded shares of FirstService (NASDAQ:FSV) (TSE:FSV) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Separately, 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 note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, FirstService currently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

FirstService Price Performance

FirstService stock opened at $170.30 on Wednesday. The company’s 50 day simple moving average is $175.68 and its 200-day simple moving average is $181.66. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 57.34 and a beta of 1.12. FirstService 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 quick ratio of 1.79 and a current ratio of 1.75.

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 issued a $0.275 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from FirstService’s previous quarterly dividend of $0.25. FirstService’s payout ratio is 37.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital A Wealth Management LLC acquired a new position in shares of FirstService in the fourth quarter valued at approximately $218,000. Parr Mcknight Wealth Management Group LLC acquired a new position in FirstService during the 4th quarter worth approximately $1,211,000. Public Employees Retirement System of Ohio grew its holdings in FirstService by 123.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 15,151 shares of the financial services provider’s stock worth $2,743,000 after acquiring an additional 8,375 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in FirstService by 8.0% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,842 shares of the financial services provider’s stock worth $17,158,000 after acquiring an additional 6,990 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in FirstService by 20.1% during the 4th quarter. Voloridge Investment Management LLC now owns 58,213 shares of the financial services provider’s stock worth $10,538,000 after acquiring an additional 9,752 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

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.