Arrowstreet Capital Limited Partnership Buys 122,222 Shares of FirstService Co. (NASDAQ:FSV)

Arrowstreet Capital Limited Partnership raised its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 244.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,258 shares of the financial services provider’s stock after purchasing an additional 122,222 shares during the period. Arrowstreet Capital Limited Partnership owned 0.38% of FirstService worth $31,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FSV. Versant Capital Management Inc bought a new position in FirstService during the fourth quarter valued at approximately $29,000. Trust Co. of Vermont bought a new position in shares of FirstService during the 4th quarter valued at approximately $46,000. Wilmington Savings Fund Society FSB purchased a new position in shares of FirstService in the third quarter valued at $53,000. Blue Trust Inc. increased its position in 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 purchasing an additional 446 shares during the last quarter. Finally, Gitterman Wealth Management LLC purchased a new stake in FirstService during the fourth quarter valued at $201,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

FSV stock opened at $171.49 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84. The stock has a market cap of $7.79 billion, a PE ratio of 57.74 and a beta of 1.04. The company has a 50-day moving average price of $173.93 and a 200 day moving average price of $181.16.

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 paid a dividend of $0.275 per share. This is a boost from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.64%. FirstService’s dividend payout ratio is currently 37.04%.

Analyst Upgrades and Downgrades

FSV has been the subject of a number of recent research reports. StockNews.com cut shares of FirstService from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Raymond James lifted their price target on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report 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 stock. According to data from MarketBeat, FirstService has a consensus rating of “Moderate Buy” and an average price target of $201.67.

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.