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

Lincluden Management Ltd. lifted its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,667 shares of the financial services provider’s stock after purchasing an additional 3,934 shares during the quarter. FirstService comprises 0.9% of Lincluden Management Ltd.’s portfolio, making the stock its 24th biggest holding. Lincluden Management Ltd. owned about 0.09% of FirstService worth $7,548,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of FSV. Berry Wealth Group LP grew its holdings in FirstService by 5.4% during the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 91 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of FirstService by 3.5% during the third quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider’s stock valued at $533,000 after buying an additional 98 shares during the period. Raymond James Trust N.A. grew its stake in shares of FirstService by 3.2% during the third quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider’s stock valued at $643,000 after buying an additional 110 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of FirstService in the fourth quarter worth approximately $29,000. Finally, Trust Co. of Vermont bought a new stake in shares of FirstService during the 4th quarter worth approximately $46,000. Institutional investors own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James upped their price objective on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

FirstService Stock Down 0.7 %

Shares of NASDAQ FSV opened at $173.35 on Tuesday. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $197.84. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 58.37 and a beta of 1.06. The stock has a 50 day moving average price of $179.67 and a 200 day moving average price of $182.26. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, March 31st will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.63%. This is a boost 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 currently 37.04%.

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.