Lincluden Management Ltd. Raises Holdings in FirstService Co. (NASDAQ:FSV)

Lincluden Management Ltd. increased its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 10.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 41,667 shares of the financial services provider’s stock after purchasing an additional 3,934 shares during the quarter. FirstService accounts for about 0.9% of Lincluden Management Ltd.’s holdings, making the stock its 24th biggest holding. Lincluden Management Ltd.’s holdings in FirstService were worth $7,548,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creative Planning lifted its position in shares of FirstService by 105.1% during the third quarter. Creative Planning now owns 9,273 shares of the financial services provider’s stock valued at $1,692,000 after buying an additional 4,752 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of FirstService during the 3rd quarter worth approximately $220,000. Assenagon Asset Management S.A. purchased a new stake in FirstService during the third quarter valued at approximately $293,000. Wealth Enhancement Advisory Services LLC boosted its stake in FirstService by 54.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,224 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 787 shares in the last quarter. Finally, Boston Financial Mangement LLC grew its holdings in FirstService by 25.3% in the third quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider’s stock worth $45,008,000 after purchasing an additional 49,790 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Down 0.7 %

NASDAQ:FSV opened at $173.35 on Tuesday. The company’s 50 day moving average is $179.67 and its two-hundred day moving average is $182.26. The company has a market cap of $7.85 billion, a PE ratio of 58.37 and a beta of 1.06. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, March 31st will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.63%. This is an increase from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. FirstService’s dividend payout ratio is presently 37.04%.

Wall Street Analysts Forecast Growth

Separately, Raymond James upped their price target on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.67.

FirstService 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.