Wealth Enhancement Advisory Services LLC Sells 123 Shares of FirstService Corporation $FSV

Wealth Enhancement Advisory Services LLC reduced its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,329 shares of the financial services provider’s stock after selling 123 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in FirstService were worth $416,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. TCTC Holdings LLC raised its holdings in shares of FirstService by 155.2% in the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock valued at $28,000 after buying an additional 104 shares during the last quarter. Strs Ohio bought a new stake in shares of FirstService in the first quarter valued at about $38,000. Spire Wealth Management lifted its stake in FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 186 shares in the last quarter. SVB Wealth LLC acquired a new position in FirstService during the first quarter worth $90,000. Finally, State of Wyoming grew its holdings in shares of FirstService by 11.1% in the 1st quarter. State of Wyoming now owns 621 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

Shares of NASDAQ FSV opened at $186.22 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 59.69 and a beta of 0.99. The firm’s 50-day simple moving average is $198.03 and its 200 day simple moving average is $182.64. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.45 by $0.26. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 earnings per share. As a group, research analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be given a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.10 annualized dividend and a yield of 0.6%. FirstService’s payout ratio is currently 35.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. Scotiabank boosted their price objective on shares of FirstService from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. TD Securities reiterated a “hold” rating on shares of FirstService in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FirstService in a research report on Saturday, September 27th. Finally, Zacks Research lowered FirstService from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, FirstService currently has an average rating of “Moderate Buy” and a consensus price target of $217.75.

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.