Osterweis Capital Management Inc. Increases Stock Position in FirstService Co. (NASDAQ:FSV)

Osterweis Capital Management Inc. lifted its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 15.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 115,138 shares of the financial services provider’s stock after acquiring an additional 15,500 shares during the quarter. Osterweis Capital Management Inc.’s holdings in FirstService were worth $20,842,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FSV. Norges Bank bought a new stake in FirstService in the fourth quarter worth $98,615,000. Franklin Resources Inc. boosted its stake in FirstService by 486.3% in the 3rd quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock worth $87,308,000 after purchasing an additional 389,129 shares in the last quarter. Raymond James Financial Inc. bought a new position in FirstService in the 4th quarter worth about $48,541,000. CIBC Asset Management Inc grew its position in FirstService by 57.4% during the 4th quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock valued at $83,138,000 after purchasing an additional 166,996 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in FirstService by 36.2% during the 4th quarter. American Century Companies Inc. now owns 543,163 shares of the financial services provider’s stock valued at $98,380,000 after purchasing an additional 144,234 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Raymond James increased 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. StockNews.com downgraded FirstService from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Stock Up 0.8 %

FSV opened at $171.95 on Thursday. FirstService Co. has a twelve month low of $141.26 and a twelve month 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 firm has a 50 day moving average price of $170.22 and a 200-day moving average price of $179.88. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 57.90 and a beta of 1.04.

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were paid a $0.275 dividend. This is an increase from FirstService’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, March 31st. FirstService’s dividend payout ratio (DPR) is 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.