FirstService (NASDAQ:FSV) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of FirstService (NASDAQ:FSV) (TSE:FSV) from a buy rating to a hold rating in a research note released on Thursday morning.

Separately, Raymond James upped their price target on FirstService from $215.00 to $225.00 and gave the company 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Price Performance

Shares of NASDAQ FSV opened at $168.91 on Thursday. The firm has a market cap of $7.68 billion, a P/E ratio of 56.87 and a beta of 1.12. FirstService has a twelve month low of $141.26 and a twelve month high of $197.84. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $175.14 and a 200 day moving average of $181.46.

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.65%. This is a boost from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. FirstService’s dividend payout ratio is presently 37.04%.

Institutional Investors Weigh In On FirstService

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in FirstService in the fourth quarter worth about $98,615,000. Franklin Resources Inc. increased its holdings in FirstService by 486.3% in the 3rd quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock worth $87,308,000 after acquiring an additional 389,129 shares in the last quarter. Raymond James Financial Inc. bought a new stake in FirstService during the 4th quarter worth approximately $48,541,000. Price T Rowe Associates Inc. MD raised its stake in FirstService by 53.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider’s stock worth $118,767,000 after acquiring an additional 229,889 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of FirstService by 57.4% in the fourth quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock worth $83,138,000 after purchasing an additional 166,996 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

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.