Kornitzer Capital Management Inc. KS Trims Stock Holdings in FirstService Co. (NASDAQ:FSV)

Kornitzer Capital Management Inc. KS trimmed its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 36.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,369 shares of the financial services provider’s stock after selling 1,366 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in FirstService were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc purchased a new position in FirstService in the 4th quarter valued at approximately $29,000. Trust Co. of Vermont bought a new position in FirstService in the 4th quarter valued at $46,000. Wilmington Savings Fund Society FSB bought a new position in FirstService in the 3rd quarter valued at $53,000. Venturi Wealth Management LLC bought a new position in FirstService in the 3rd quarter valued at $66,000. Finally, Blue Trust Inc. boosted 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 valued at $133,000 after purchasing an additional 446 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FSV shares. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Raymond James raised their price target on shares of FirstService from $215.00 to $225.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Stock Performance

NASDAQ FSV opened at $174.09 on Thursday. FirstService Co. has a 52-week low of $141.26 and a 52-week 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 company has a market capitalization of $7.88 billion, a P/E ratio of 58.62 and a beta of 1.06. The company has a fifty day moving average of $180.52 and a 200-day moving average of $182.05.

FirstService Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, March 31st will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.63%. 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 (DPR) is presently 37.04%.

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.