Gitterman Wealth Management LLC Invests $201,000 in FirstService Co. (NASDAQ:FSV)

Gitterman Wealth Management LLC acquired a new position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,107 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other large investors also recently modified their holdings of the business. Natixis Advisors LLC boosted its stake in shares of FirstService by 3.5% during the 4th quarter. Natixis Advisors LLC now owns 24,645 shares of the financial services provider’s stock worth $4,461,000 after buying an additional 833 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in FirstService by 3.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 28,371 shares of the financial services provider’s stock valued at $5,136,000 after purchasing an additional 1,000 shares during the last quarter. AGF Management Ltd. lifted its stake in FirstService by 29.6% in the 4th quarter. AGF Management Ltd. now owns 24,527 shares of the financial services provider’s stock valued at $4,443,000 after purchasing an additional 5,600 shares during the last quarter. Eos Management L.P. lifted its stake in FirstService by 43.6% in the 4th quarter. Eos Management L.P. now owns 13,182 shares of the financial services provider’s stock valued at $2,386,000 after purchasing an additional 4,004 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its stake in FirstService by 7.2% in the 4th quarter. King Luther Capital Management Corp now owns 35,664 shares of the financial services provider’s stock valued at $6,456,000 after purchasing an additional 2,380 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

FirstService Stock Up 3.6 %

FirstService stock opened at $165.45 on Friday. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The company’s 50-day moving average price is $176.48 and its two-hundred day moving average price is $182.01. The stock has a market cap of $7.52 billion, a P/E ratio of 55.71 and a beta of 1.12. 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 Increases Dividend

The firm also recently announced 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 is a boost from FirstService’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 0.66%. FirstService’s dividend payout ratio (DPR) is currently 37.04%.

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.