Norges Bank Makes New Investment in FirstService Co. (NASDAQ:FSV)

Norges Bank bought a new stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 545,089 shares of the financial services provider’s stock, valued at approximately $98,615,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FSV. Versant Capital Management Inc acquired a new position in FirstService in the 4th quarter valued at $29,000. Trust Co. of Vermont purchased a new stake in shares of FirstService during the fourth quarter worth $46,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of FirstService in the third quarter valued at about $53,000. Blue Trust Inc. lifted its stake in shares of FirstService by 158.2% in the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock worth $133,000 after buying an additional 446 shares in the last quarter. Finally, Gitterman Wealth Management LLC acquired a new position in FirstService during the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Up 1.6 %

FSV stock opened at $168.63 on Wednesday. The firm has a market cap of $7.66 billion, a PE ratio of 56.78 and a beta of 1.12. FirstService Co. has a one year low of $141.26 and a one year high of $197.84. 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 firm’s 50 day moving average price is $174.21 and its 200-day moving average price is $181.23.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be paid 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 positive change from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio is 37.04%.

Analyst Ratings Changes

FSV has been the subject of a number of recent research reports. Raymond James increased their price objective on shares of FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. StockNews.com downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, FirstService currently has an average rating of “Moderate Buy” and an average price target 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.