Envestnet Asset Management Inc. Has $25.29 Million Stock Holdings in FirstService Corporation $FSV

Envestnet Asset Management Inc. lessened its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 144,823 shares of the financial services provider’s stock after selling 2,842 shares during the quarter. Envestnet Asset Management Inc. owned 0.32% of FirstService worth $25,289,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in FirstService by 11.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,452 shares of the financial services provider’s stock valued at $407,000 after buying an additional 248 shares in the last quarter. Brown Advisory Inc. acquired a new stake in FirstService in the first quarter valued at about $30,523,000. Parr Mcknight Wealth Management Group LLC boosted its stake in FirstService by 10.1% in the first quarter. Parr Mcknight Wealth Management Group LLC now owns 7,369 shares of the financial services provider’s stock valued at $1,223,000 after buying an additional 679 shares in the last quarter. Diversify Wealth Management LLC boosted its stake in FirstService by 4.4% in the first quarter. Diversify Wealth Management LLC now owns 2,127 shares of the financial services provider’s stock valued at $366,000 after buying an additional 89 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC boosted its stake in FirstService by 2.4% in the first quarter. Jacobson & Schmitt Advisors LLC now owns 96,311 shares of the financial services provider’s stock valued at $15,983,000 after buying an additional 2,233 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Price Performance

Shares of FSV opened at $157.27 on Tuesday. FirstService Corporation has a 1 year low of $153.13 and a 1 year high of $209.66. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.73 and a quick ratio of 1.76. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 52.08 and a beta of 0.99. The business has a 50-day moving average of $188.79 and a 200-day moving average of $183.79.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.76. FirstService had a return on equity of 17.98% and a net margin of 2.53%.The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $1.63 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 30th. FirstService’s dividend payout ratio (DPR) is 36.42%.

Analyst Ratings Changes

FSV has been the topic of several research analyst reports. BMO Capital Markets set a $209.00 price objective on FirstService and gave the company an “outperform” rating in a research note on Friday, October 24th. Raymond James Financial reduced their price objective on FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Stifel Nicolaus reduced their price objective on FirstService from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Wall Street Zen lowered FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Scotiabank raised FirstService from a “sector perform” rating to a “sector outperform” rating and reduced their price objective for the company from $220.00 to $205.00 in a research note on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.17.

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.