StockNews.com Upgrades FirstService (NASDAQ:FSV) to Buy

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

Separately, Raymond James increased their target price on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, FirstService presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.67.

FirstService Stock Performance

Shares of FSV stock opened at $170.46 on Wednesday. The stock has a market cap of $7.75 billion, a PE ratio of 57.39 and a beta of 1.12. The stock has a 50-day moving average of $175.92 and a 200-day moving average of $181.81. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. FirstService has a one year low of $141.26 and a one year high of $197.84.

FirstService Increases Dividend

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

Institutional Investors Weigh In On FirstService

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital A Wealth Management LLC acquired a new stake in shares of FirstService in the 4th quarter valued at about $218,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of FirstService during the fourth quarter worth about $1,211,000. Public Employees Retirement System of Ohio raised its position in FirstService by 123.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 15,151 shares of the financial services provider’s stock valued at $2,743,000 after buying an additional 8,375 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in FirstService by 8.0% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,842 shares of the financial services provider’s stock valued at $17,158,000 after acquiring an additional 6,990 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in FirstService by 20.1% during the 4th quarter. Voloridge Investment Management LLC now owns 58,213 shares of the financial services provider’s stock worth $10,538,000 after acquiring an additional 9,752 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

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.