Pictet Asset Management Holding SA Has $4.15 Million Stake in FirstService Co. (NASDAQ:FSV)

Pictet Asset Management Holding SA grew its stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,898 shares of the financial services provider’s stock after purchasing an additional 2,886 shares during the period. Pictet Asset Management Holding SA owned about 0.05% of FirstService worth $4,146,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc bought a new stake in FirstService during the 4th quarter worth $29,000. Trust Co. of Vermont bought a new stake in shares of FirstService during the fourth quarter worth about $46,000. Wilmington Savings Fund Society FSB acquired a new position in shares of FirstService in the third quarter valued at approximately $53,000. Blue Trust Inc. raised its holdings in FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after buying an additional 446 shares during the last quarter. Finally, Gitterman Wealth Management LLC acquired a new stake in FirstService during the 4th quarter worth approximately $201,000. 69.35% of the stock is owned by institutional investors.

FirstService Stock Performance

Shares of FSV opened at $160.90 on Friday. The firm’s fifty day simple moving average is $173.08 and its two-hundred day simple moving average is $180.92. FirstService Co. has a 12 month low of $141.26 and a 12 month high of $197.84. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $7.31 billion, a P/E ratio of 54.18 and a beta of 1.04.

FirstService Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be paid a dividend of $0.275 per share. The ex-dividend date is Monday, March 31st. This represents a $1.10 annualized dividend and a yield of 0.68%. This is a boost from FirstService’s previous quarterly dividend of $0.25. FirstService’s dividend payout ratio (DPR) is currently 37.04%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FSV. Raymond James raised their price target on shares of FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. StockNews.com downgraded FirstService from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Three investment 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 a consensus price target of $201.67.

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.