Pictet Asset Management Holding SA Buys 2,886 Shares of FirstService Co. (NASDAQ:FSV)

Pictet Asset Management Holding SA lifted its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 14.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 22,898 shares of the financial services provider’s stock after acquiring an additional 2,886 shares during the period. Pictet Asset Management Holding SA’s holdings in FirstService were worth $4,146,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in FirstService in the 4th quarter valued at $98,615,000. JPMorgan Chase & Co. lifted its stake in shares of FirstService by 18.8% in the fourth quarter. JPMorgan Chase & Co. now owns 238,471 shares of the financial services provider’s stock valued at $43,168,000 after buying an additional 37,695 shares in the last quarter. Korea Investment CORP lifted its stake in shares of FirstService by 5.4% in the fourth quarter. Korea Investment CORP now owns 9,704 shares of the financial services provider’s stock valued at $1,757,000 after buying an additional 500 shares in the last quarter. Mufg Securities Canada LTD. raised its holdings in shares of FirstService by 72.6% in the 4th quarter. Mufg Securities Canada LTD. now owns 63,405 shares of the financial services provider’s stock worth $11,478,000 after acquiring an additional 26,669 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in FirstService by 2.7% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,200 shares of the financial services provider’s stock valued at $7,657,000 after acquiring an additional 1,100 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com lowered FirstService from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Raymond James upped 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Price Performance

Shares of NASDAQ FSV opened at $160.90 on Friday. The company has a market capitalization of $7.31 billion, a PE ratio of 54.18 and a beta of 1.04. 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 50 day moving average price is $173.08 and its 200-day moving average price is $180.92. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84.

FirstService Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis 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 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.