FirstService Co. (NASDAQ:FSV) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 6.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 303,408 shares of the financial services provider’s stock after purchasing an additional 18,894 shares during the period. Envestnet Asset Management Inc. owned 0.68% of FirstService worth $42,778,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp grew its stake in FirstService by 71.4% during the 4th quarter. Mackenzie Financial Corp now owns 1,864,158 shares of the financial services provider’s stock worth $227,913,000 after buying an additional 776,456 shares during the last quarter. Norges Bank bought a new position in FirstService in the 4th quarter worth about $56,942,000. Morgan Stanley boosted its position in FirstService by 412.2% during the 4th quarter. Morgan Stanley now owns 357,702 shares of the financial services provider’s stock worth $43,836,000 after acquiring an additional 287,863 shares during the period. Durable Capital Partners LP grew its position in FirstService by 7.6% in the 1st quarter. Durable Capital Partners LP now owns 3,391,256 shares of the financial services provider’s stock valued at $491,325,000 after buying an additional 238,980 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of FirstService by 970.1% in the fourth quarter. Franklin Resources Inc. now owns 257,177 shares of the financial services provider’s stock valued at $31,495,000 after acquiring an additional 233,145 shares in the last quarter. 69.49% of the stock is owned by institutional investors and hedge funds.

FirstService Price Performance

Shares of NASDAQ:FSV opened at $148.99 on Tuesday. FirstService Co. has a 12-month low of $112.44 and a 12-month high of $163.95. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.83. The company has a market cap of $6.65 billion, a P/E ratio of 49.66 and a beta of 1.07. The company’s fifty day moving average is $152.21 and its two-hundred day moving average is $145.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. FirstService had a return on equity of 20.86% and a net margin of 3.25%. Equities analysts expect that FirstService Co. will post 4.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FSV. TheStreet raised FirstService from a “c+” rating to a “b-” rating in a research note on Thursday, July 27th. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Saturday. BMO Capital Markets raised FirstService from a “market perform” rating to an “outperform” rating and upped their price target for the company from $166.00 to $176.00 in a report on Friday, June 30th. Finally, Royal Bank of Canada raised their price objective on FirstService from $165.00 to $173.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, FirstService currently has a consensus rating of “Buy” and an average target price of $165.80.

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. The company operates in two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment offers property management 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.