Shares of FirstService Co. (NASDAQ:FSV – Get Free Report) (TSE:FSV) have earned an average recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have covered the stock in the last year is $177.29.
FSV has been the subject of a number of recent research reports. Stifel Nicolaus set a $175.00 price target on shares of FirstService and gave the stock a “buy” rating in a research report on Tuesday, November 21st. BMO Capital Markets reduced their price target on shares of FirstService from $196.00 to $193.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 target price on shares of FirstService in a report on Wednesday, February 7th. Raymond James lifted their target price on shares of FirstService from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Finally, TheStreet lowered shares of FirstService from a “b-” rating to a “c” rating in a report on Tuesday, February 6th.
FirstService Stock Performance
FirstService Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from FirstService’s previous quarterly dividend of $0.23. FirstService’s payout ratio is presently 40.18%.
Institutional Investors Weigh In On FirstService
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its stake in FirstService by 658.5% during the 1st quarter. Citigroup Inc. now owns 2,723 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 2,364 shares during the last quarter. Natixis Advisors L.P. acquired a new position in shares of FirstService during the 1st quarter valued at about $1,987,000. BlackRock Inc. boosted its position in shares of FirstService by 1.3% during the 1st quarter. BlackRock Inc. now owns 15,513 shares of the financial services provider’s stock valued at $2,248,000 after acquiring an additional 192 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of FirstService by 45.0% during the 1st quarter. Raymond James Trust N.A. now owns 3,144 shares of the financial services provider’s stock valued at $455,000 after acquiring an additional 976 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of FirstService by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 139,654 shares of the financial services provider’s stock valued at $20,233,000 after acquiring an additional 3,286 shares during the last quarter. Hedge funds and other institutional investors own 69.49% of the company’s stock.
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. The company operates in two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment offers property management 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.
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