FirstService Co. (NASDAQ:FSV) Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC lessened its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 8.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 106,284 shares of the financial services provider’s stock after selling 9,347 shares during the quarter. FirstService comprises 2.5% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Summit Creek Advisors LLC’s holdings in FirstService were worth $19,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Natixis Advisors LLC boosted its stake in shares of FirstService by 4.7% in the third quarter. Natixis Advisors LLC now owns 23,812 shares of the financial services provider’s stock valued at $4,345,000 after buying an additional 1,068 shares in the last quarter. Pathstone Holdings LLC raised its holdings in shares of FirstService by 7.3% in the third quarter. Pathstone Holdings LLC now owns 15,884 shares of the financial services provider’s stock worth $2,898,000 after acquiring an additional 1,087 shares during the last quarter. Jennison Associates LLC grew its position in shares of FirstService by 27.0% in the third quarter. Jennison Associates LLC now owns 4,791 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 1,018 shares during the period. Raymond James Trust N.A. grew its position in shares of FirstService by 3.2% in the third quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 110 shares during the period. Finally, Cerity Partners LLC grew its position in shares of FirstService by 12.6% in the third quarter. Cerity Partners LLC now owns 2,330 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 261 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Trading Up 0.3 %

Shares of NASDAQ FSV opened at $170.30 on Monday. The stock’s 50 day moving average price is $175.68 and its two-hundred day moving average price is $181.70. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $197.84. The stock has a market capitalization of $7.74 billion, a P/E ratio of 57.34 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.10 annualized dividend and a yield of 0.65%. This is a boost from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio is presently 37.04%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSV. Raymond James boosted their price target on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, FirstService currently has a consensus rating of “Moderate Buy” and a consensus 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.