Jennison Associates LLC Increases Stake in FirstService Co. (NASDAQ:FSV)

Jennison Associates LLC boosted its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 686.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,702 shares of the financial services provider’s stock after buying an additional 32,911 shares during the period. Jennison Associates LLC owned 0.08% of FirstService worth $6,827,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Franklin Resources Inc. lifted its stake in shares of FirstService by 486.3% in the 3rd 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 boosted its holdings in shares of FirstService by 19.7% during the 3rd quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock valued at $69,992,000 after buying an additional 63,807 shares in the last quarter. Boston Financial Mangement LLC grew its position in shares of FirstService by 25.3% in the 3rd quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider’s stock worth $45,008,000 after buying an additional 49,790 shares during the period. Canoe Financial LP increased its stake in shares of FirstService by 1,451.8% in the 4th quarter. Canoe Financial LP now owns 29,018 shares of the financial services provider’s stock worth $5,253,000 after acquiring an additional 27,148 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in FirstService by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,449,933 shares of the financial services provider’s stock valued at $264,555,000 after acquiring an additional 23,082 shares during the period. 69.35% of the stock is owned by institutional investors.

FirstService Trading Down 4.2 %

Shares of NASDAQ:FSV opened at $173.94 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79. FirstService Co. has a 1 year low of $141.26 and a 1 year high of $197.84. The company has a market cap of $7.87 billion, a P/E ratio of 72.48 and a beta of 1.06. The stock’s fifty day moving average price is $184.18 and its 200-day moving average price is $181.86.

FirstService Increases Dividend

The business 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 dividend of $0.275 per share. The ex-dividend date is Monday, March 31st. This is an increase from FirstService’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 0.63%. FirstService’s payout ratio is 41.67%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FSV. Scotiabank upped their price objective on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Stifel Nicolaus raised their price objective on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 21st. TD Securities boosted their target price on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Raymond James raised 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. Finally, StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, FirstService presently has an average rating of “Moderate Buy” and a consensus 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.