Wealth Enhancement Advisory Services LLC Raises Stock Holdings in FirstService Corporation (NASDAQ:FSV)

Wealth Enhancement Advisory Services LLC boosted its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 11.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,452 shares of the financial services provider’s stock after purchasing an additional 248 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in FirstService were worth $407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fifth Third Bancorp boosted its holdings in FirstService by 23.0% in the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 144 shares during the last quarter. Avanza Fonder AB boosted its holdings in FirstService by 100.0% in the first quarter. Avanza Fonder AB now owns 5,000 shares of the financial services provider’s stock valued at $830,000 after purchasing an additional 2,500 shares during the last quarter. Fenimore Asset Management Inc boosted its holdings in FirstService by 0.6% in the first quarter. Fenimore Asset Management Inc now owns 100,577 shares of the financial services provider’s stock valued at $16,691,000 after purchasing an additional 570 shares during the last quarter. NBC Securities Inc. boosted its holdings in FirstService by 108,033.3% in the first quarter. NBC Securities Inc. now owns 3,244 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 3,241 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in FirstService by 716.4% in the first quarter. Versant Capital Management Inc now owns 1,298 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 1,139 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Trading Up 1.2%

NASDAQ:FSV opened at $178.21 on Monday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $175.35 and its two-hundred day moving average is $174.78. The company has a market cap of $8.10 billion, a PE ratio of 61.66 and a beta of 0.99. FirstService Corporation has a 52 week low of $152.32 and a 52 week high of $197.84.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.28 billion. FirstService had a return on equity of 17.49% and a net margin of 2.46%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. On average, analysts predict that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th 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 0.62%. The ex-dividend date of this dividend is Monday, June 30th. FirstService’s payout ratio is 38.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FSV shares. Scotiabank reduced their price target on FirstService from $217.50 to $210.00 and set a “sector perform” rating for the company in a report on Thursday, April 17th. TD Securities increased their target price on FirstService from $198.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, May 7th. Finally, Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

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.