King Luther Capital Management Corp Acquires 2,380 Shares of FirstService Co. (NASDAQ:FSV)

King Luther Capital Management Corp grew its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 7.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 35,664 shares of the financial services provider’s stock after purchasing an additional 2,380 shares during the period. King Luther Capital Management Corp’s holdings in FirstService were worth $6,456,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Berry Wealth Group LP raised its position in FirstService by 5.4% during the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 91 shares during the last quarter. HighTower Advisors LLC raised its position in shares of FirstService by 3.5% during the third quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 98 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of FirstService by 3.2% in the third quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider’s stock worth $643,000 after acquiring an additional 110 shares during the period. Versant Capital Management Inc bought a new stake in FirstService in the fourth quarter valued at approximately $29,000. Finally, Trust Co. of Vermont bought a new stake in FirstService in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on FSV. Raymond James raised their price target on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. StockNews.com downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Stock Performance

NASDAQ:FSV opened at $165.12 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The company has a fifty day moving average of $177.84 and a 200-day moving average of $182.44. The firm has a market capitalization of $7.50 billion, a P/E ratio of 55.60 and a beta of 1.12.

FirstService Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.10 annualized dividend and a dividend yield of 0.67%. This is a positive change from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio is currently 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.