JPMorgan Chase & Co. Grows Stake in FirstService Co. (NASDAQ:FSV)

JPMorgan Chase & Co. lifted its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,471 shares of the financial services provider’s stock after purchasing an additional 37,695 shares during the quarter. JPMorgan Chase & Co.’s holdings in FirstService were worth $43,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FSV. Versant Capital Management Inc purchased a new stake in shares of FirstService during the 4th quarter valued at about $29,000. Trust Co. of Vermont bought a new position in FirstService during the fourth quarter valued at approximately $46,000. Wilmington Savings Fund Society FSB purchased a new stake in FirstService in the third quarter worth approximately $53,000. Blue Trust Inc. grew its position in FirstService by 158.2% in the 4th 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 period. Finally, Gitterman Wealth Management LLC purchased a new stake in FirstService during the 4th quarter valued at $201,000. Institutional investors own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

FSV has been the subject of a number of research reports. Raymond James upped their price objective 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 lowered shares of FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Trading Down 3.7 %

Shares of FSV opened at $160.90 on Monday. The company’s fifty day simple moving average is $173.08 and its 200-day simple moving average is $180.95. The company has a market cap of $7.31 billion, a P/E ratio of 54.18 and a beta of 1.04. 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 twelve month low of $141.26 and a twelve month high of $197.84.

FirstService Increases Dividend

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

About FirstService

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.