State of New Jersey Common Pension Fund D Buys 1,742 Shares of FirstService Co. (NASDAQ:FSV)

State of New Jersey Common Pension Fund D increased its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 20.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,122 shares of the financial services provider’s stock after buying an additional 1,742 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in FirstService were worth $1,832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FSV. Berry Wealth Group LP lifted its holdings in shares of FirstService by 5.4% in the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 91 shares during the last quarter. HighTower Advisors LLC raised its position in FirstService by 3.5% in the 3rd quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 98 shares during the period. Raymond James Trust N.A. lifted its stake in FirstService by 3.2% in the third quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 110 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of FirstService during the fourth quarter valued at approximately $29,000. Finally, Trust Co. of Vermont bought a new position in shares of FirstService during the fourth quarter valued at approximately $46,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Raymond James raised their price target on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, FirstService presently has an average rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Stock Up 2.1 %

Shares of NASDAQ FSV opened at $176.99 on Wednesday. FirstService Co. has a 52-week low of $141.26 and a 52-week high of $197.84. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 59.59 and a beta of 1.06. The stock has a 50 day moving average price of $179.48 and a 200 day moving average price of $182.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75.

FirstService Increases Dividend

The company also recently announced 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. This represents a $1.10 annualized dividend and a dividend yield of 0.62%. This is a boost from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. FirstService’s dividend payout ratio is currently 37.04%.

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. 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.