Bristol Gate Capital Partners Inc. Purchases 497 Shares of FirstService Co. (NASDAQ:FSV)

Bristol Gate Capital Partners Inc. raised its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,629 shares of the financial services provider’s stock after acquiring an additional 497 shares during the period. FirstService makes up approximately 0.1% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 25th biggest holding. Bristol Gate Capital Partners Inc.’s holdings in FirstService were worth $1,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of FirstService by 9.4% during the fourth quarter. Russell Investments Group Ltd. now owns 41,061 shares of the financial services provider’s stock valued at $7,434,000 after buying an additional 3,524 shares during the last quarter. Aviva PLC bought a new position in FirstService in the 4th quarter valued at $4,119,000. Geode Capital Management LLC increased its stake in FirstService by 23.5% in the fourth quarter. Geode Capital Management LLC now owns 297,037 shares of the financial services provider’s stock worth $55,526,000 after purchasing an additional 56,434 shares during the period. National Bank of Canada FI boosted its stake in shares of FirstService by 34.4% during the fourth quarter. National Bank of Canada FI now owns 328,780 shares of the financial services provider’s stock valued at $59,605,000 after purchasing an additional 84,069 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of FirstService by 18.5% in the fourth quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider’s stock worth $100,632,000 after purchasing an additional 86,909 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

FirstService Price Performance

Shares of NASDAQ FSV opened at $160.90 on Monday. The company has a market cap of $7.31 billion, a PE ratio of 54.18 and a beta of 1.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. The business has a 50-day simple moving average of $173.08 and a two-hundred day simple moving average of $180.95. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week 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 represents a $1.10 annualized dividend and a dividend yield of 0.68%. This is an increase from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. FirstService’s dividend payout ratio is presently 37.04%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Raymond James raised their target price on shares of FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.67.

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.