AGF Management Ltd. Raises Stake in FirstService Co. (NASDAQ:FSV)

AGF Management Ltd. boosted its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 29.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 24,527 shares of the financial services provider’s stock after buying an additional 5,600 shares during the period. AGF Management Ltd.’s holdings in FirstService were worth $4,443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Franklin Resources Inc. raised its position in FirstService by 486.3% in 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. Raymond James Financial Inc. acquired a new stake in shares of FirstService in the fourth quarter valued at about $48,541,000. CIBC Asset Management Inc raised its holdings in shares of FirstService by 57.4% during the 4th quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock valued at $83,138,000 after buying an additional 166,996 shares during the period. Bank of Montreal Can lifted its position in FirstService by 19.7% during the 3rd quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock worth $69,992,000 after acquiring an additional 63,807 shares in the last quarter. Finally, Fiera Capital Corp grew its position in FirstService by 24.1% in the fourth quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider’s stock valued at $46,839,000 after acquiring an additional 50,265 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com cut shares of FirstService from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Raymond James boosted their price objective on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, FirstService has a consensus rating of “Moderate Buy” and a consensus target price of $201.67.

FirstService Stock Down 0.6 %

Shares of NASDAQ:FSV opened at $164.06 on Thursday. The firm has a market cap of $7.46 billion, a PE ratio of 55.24 and a beta of 1.12. The company has a fifty day simple moving average of $177.52 and a 200 day simple moving average of $182.36. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be given a $0.275 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.10 annualized dividend and a dividend yield of 0.67%. This is an increase from FirstService’s previous quarterly dividend of $0.25. FirstService’s payout ratio is presently 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.