Corient Private Wealth LLC Sells 1,372 Shares of FirstService Co. (NASDAQ:FSV)

Corient Private Wealth LLC lowered its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 6.8% in the 4th quarter, according to its most recent disclosure 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 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in FirstService by 486.3% during the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock valued at $87,308,000 after purchasing an additional 389,129 shares during the period. Bank of Montreal Can grew its holdings in FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock valued at $69,992,000 after purchasing an additional 63,807 shares during the period. JPMorgan Chase & Co. grew its holdings in FirstService by 5.3% during the third quarter. JPMorgan Chase & Co. now owns 200,776 shares of the financial services provider’s stock valued at $36,634,000 after purchasing an additional 10,191 shares during the period. CIBC Asset Management Inc grew its holdings in FirstService by 57.4% during the fourth quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock valued at $83,138,000 after purchasing an additional 166,996 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in FirstService by 253.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,351 shares of the financial services provider’s stock valued at $3,503,000 after purchasing an additional 13,876 shares during the period. Institutional investors own 69.35% of the company’s stock.

FirstService Stock Performance

NASDAQ FSV opened at $170.30 on Friday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 57.34 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. The business has a 50-day moving average price of $175.68 and a 200-day moving average price of $181.68. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be given a $0.275 dividend. This is an increase from FirstService’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

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

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.