FirstService Co. (NASDAQ:FSV) Shares Purchased by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. raised its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,629 shares of the financial services provider’s stock after buying an additional 497 shares during the period. FirstService comprises 0.1% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 25th biggest position. Bristol Gate Capital Partners Inc.’s holdings in FirstService were worth $1,200,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. boosted its position in FirstService by 9.4% during the fourth quarter. Russell Investments Group Ltd. now owns 41,061 shares of the financial services provider’s stock worth $7,434,000 after purchasing an additional 3,524 shares in the last quarter. Aviva PLC purchased a new position in FirstService during the fourth quarter valued at $4,119,000. Geode Capital Management LLC grew its position in shares of FirstService by 23.5% in the fourth quarter. Geode Capital Management LLC now owns 297,037 shares of the financial services provider’s stock valued at $55,526,000 after purchasing an additional 56,434 shares during the period. National Bank of Canada FI increased its stake in shares of FirstService by 34.4% during the fourth quarter. National Bank of Canada FI now owns 328,780 shares of the financial services provider’s stock worth $59,605,000 after purchasing an additional 84,069 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in FirstService by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider’s stock worth $100,632,000 after buying an additional 86,909 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FSV shares. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a research report 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 report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

FirstService Stock Down 3.7 %

NASDAQ:FSV opened at $160.90 on Monday. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average is $173.08 and its two-hundred day moving average is $180.95. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 54.18 and a beta of 1.04.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be given a $0.275 dividend. This is an increase from FirstService’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 0.68%. The ex-dividend date is Monday, March 31st. FirstService’s payout ratio is currently 37.04%.

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.