FirstService (NASDAQ:FSV) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of FirstService (NASDAQ:FSV) (TSE:FSV) from a hold rating to a buy rating in a report issued on Wednesday morning.

Separately, Raymond James upped their price objective on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, FirstService presently has an average rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Stock Up 1.5 %

Shares of NASDAQ:FSV opened at $170.46 on Wednesday. The company’s fifty day moving average is $175.92 and its 200-day moving average is $181.81. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. FirstService has a 52 week low of $141.26 and a 52 week high of $197.84. The company has a market capitalization of $7.75 billion, a PE ratio of 57.39 and a beta of 1.12.

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 dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.65%. This is a positive change from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. FirstService’s dividend payout ratio is presently 37.04%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased 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 buying an additional 389,129 shares during the period. Bank of Montreal Can raised its holdings 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 purchasing an additional 63,807 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of FirstService by 5.3% in the 3rd 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 last quarter. CIBC Asset Management Inc grew its position 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 worth $83,138,000 after buying an additional 166,996 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of FirstService by 253.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,351 shares of the financial services provider’s stock worth $3,503,000 after buying an additional 13,876 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

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.