545,089 Shares in FirstService Co. (NASDAQ:FSV) Bought by Norges Bank

Norges Bank purchased a new stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 545,089 shares of the financial services provider’s stock, valued at approximately $98,615,000. Norges Bank owned about 1.20% of FirstService as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in FirstService in the 4th quarter worth $29,000. Trust Co. of Vermont acquired a new stake in shares of FirstService during the fourth quarter worth about $46,000. Wilmington Savings Fund Society FSB purchased a new stake in FirstService in the third quarter valued at approximately $53,000. Blue Trust Inc. increased 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 worth $133,000 after buying an additional 446 shares during the period. Finally, Gitterman Wealth Management LLC acquired a new stake in shares of FirstService in the fourth quarter worth $201,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Up 1.6 %

Shares of FSV opened at $168.63 on Wednesday. The firm has a market cap of $7.66 billion, a P/E ratio of 56.78 and a beta of 1.12. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84. The stock’s 50 day moving average is $174.21 and its two-hundred day moving average is $181.23. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, March 31st. This is a positive change from FirstService’s previous quarterly dividend of $0.25. FirstService’s payout ratio is presently 37.04%.

Wall Street Analysts Forecast Growth

FSV has been the subject of several recent research reports. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Raymond James lifted their target price on shares of FirstService from $215.00 to $225.00 and gave the company 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 company. According to MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and an average target price 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.