Corient Private Wealth LLC Decreases Stake in FirstService Co. (NASDAQ:FSV)

Corient Private Wealth LLC cut its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,929 shares of the financial services provider’s stock after selling 1,372 shares during the period. Corient Private Wealth LLC’s holdings in FirstService were worth $3,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

FirstService Stock Up 0.3 %

Shares of NASDAQ:FSV opened at $170.30 on Friday. 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 stock has a market cap of $7.74 billion, a P/E ratio of 57.34 and a beta of 1.12. The business’s 50 day moving average is $175.68 and its 200 day moving average is $181.68. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $197.84.

FirstService Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research note on Wednesday. Raymond James upped their target price on 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.