FirstService Co. (NASDAQ:FSV) Shares Bought by Korea Investment CORP

Korea Investment CORP lifted its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,704 shares of the financial services provider’s stock after acquiring an additional 500 shares during the period. Korea Investment CORP’s holdings in FirstService were worth $1,757,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FSV. Berry Wealth Group LP boosted its stake in shares of FirstService by 5.4% during the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 91 shares during the last quarter. Signaturefd LLC lifted its stake in shares of FirstService by 7.5% during the fourth quarter. Signaturefd LLC now owns 1,363 shares of the financial services provider’s stock valued at $247,000 after buying an additional 95 shares during the period. HighTower Advisors LLC boosted its position in FirstService by 3.5% during the third quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 98 shares during the last quarter. Versant Capital Management Inc purchased a new stake in FirstService in the 4th quarter worth approximately $29,000. Finally, Trust Co. of Vermont acquired a new position in FirstService in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FSV. Raymond James raised their price objective on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.67.

FirstService Trading Up 1.6 %

Shares of FSV opened at $168.63 on Wednesday. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The firm has a market capitalization of $7.66 billion, a P/E ratio of 56.78 and a beta of 1.12. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $174.21 and its 200 day simple moving average is $181.23.

FirstService Increases Dividend

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

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.