Congress Wealth Management LLC DE Sells 202 Shares of FirstService Co. (NASDAQ:FSV)

Congress Wealth Management LLC DE lowered its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 13.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,284 shares of the financial services provider’s stock after selling 202 shares during the quarter. Congress Wealth Management LLC DE’s holdings in FirstService were worth $232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of FirstService during the fourth quarter valued at approximately $29,000. Trust Co. of Vermont bought a new position in FirstService in the 4th quarter valued at $46,000. Wilmington Savings Fund Society FSB bought a new stake in shares of FirstService during the third quarter worth $53,000. Blue Trust Inc. lifted its stake in shares of FirstService by 158.2% during the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 446 shares during the period. Finally, Gitterman Wealth Management LLC bought a new position in FirstService in the fourth quarter valued at about $201,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FSV shares. Raymond James upped their target price on shares of FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. StockNews.com cut shares of FirstService from a “buy” rating to a “hold” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and an average target price of $201.67.

FirstService Stock Performance

Shares of NASDAQ:FSV opened at $166.05 on Friday. The firm’s 50 day simple moving average is $174.82 and its 200 day simple moving average is $181.41. 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 $7.55 billion, a price-to-earnings ratio of 55.91 and a beta of 1.12. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79.

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.66%. 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 (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.