CIBC Asset Management Inc Has $83.14 Million Stock Position in FirstService Co. (NASDAQ:FSV)

CIBC Asset Management Inc increased its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 57.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 457,735 shares of the financial services provider’s stock after acquiring an additional 166,996 shares during the period. CIBC Asset Management Inc owned about 1.01% of FirstService worth $83,138,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FSV. Versant Capital Management Inc acquired a new stake in shares of FirstService in the 4th quarter valued at approximately $29,000. Trust Co. of Vermont acquired a new stake in FirstService in the fourth quarter valued at $46,000. Wilmington Savings Fund Society FSB bought a new position in shares of FirstService in the 3rd quarter valued at about $53,000. Venturi Wealth Management LLC bought a new position in shares of FirstService in the 3rd quarter valued at about $66,000. Finally, Blue Trust Inc. increased its stake in shares of FirstService by 158.2% during 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 last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Stock Down 0.2 %

FSV opened at $175.36 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. The stock has a fifty day moving average of $181.51 and a 200-day moving average of $182.07. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The company has a market capitalization of $7.94 billion, a P/E ratio of 59.04 and a beta of 1.06.

FirstService Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, March 31st will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a yield of 0.63%. This is an increase from FirstService’s previous quarterly dividend of $0.25. FirstService’s payout ratio is currently 33.67%.

Wall Street Analyst Weigh In

FSV has been the subject of a number of research analyst reports. 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. Stifel Nicolaus lifted their target price on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $201.67.

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.