Swiss National Bank Reduces Holdings in FirstService Co. (NASDAQ:FSV)

Swiss National Bank trimmed its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,600 shares of the financial services provider’s stock after selling 4,900 shares during the quarter. Swiss National Bank owned approximately 0.26% of FirstService worth $21,293,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in FSV. Versant Capital Management Inc purchased a new stake in shares of FirstService during the fourth quarter worth approximately $29,000. Trust Co. of Vermont purchased a new stake in FirstService in the 4th quarter valued at $46,000. Wilmington Savings Fund Society FSB purchased a new stake in FirstService in the 3rd quarter valued at $53,000. Blue Trust Inc. grew its holdings in FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after buying an additional 446 shares in the last quarter. Finally, Hardy Reed LLC purchased a new stake in FirstService in the 3rd quarter valued at $217,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Performance

Shares of FirstService stock opened at $168.01 on Wednesday. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. The business’s fifty day simple moving average is $176.06 and its 200-day simple moving average is $181.89. The firm has a market cap of $7.64 billion, a PE ratio of 56.57 and a beta of 1.12. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

FirstService Increases Dividend

The firm also recently declared 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 represents a $1.10 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio is 37.04%.

Analyst Upgrades and Downgrades

FSV has been the subject of several analyst reports. Raymond James upped their target price on FirstService from $215.00 to $225.00 and gave the company 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 Friday, March 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.67.

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.