Envestnet Asset Management Inc. Grows Position in FirstService Corporation $FSV

Envestnet Asset Management Inc. increased its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,559 shares of the financial services provider’s stock after acquiring an additional 14,736 shares during the period. Envestnet Asset Management Inc. owned approximately 0.35% of FirstService worth $30,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSV. DekaBank Deutsche Girozentrale raised its holdings in shares of FirstService by 0.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,092 shares of the financial services provider’s stock worth $1,051,000 after acquiring an additional 52 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in shares of FirstService by 5.6% during the second quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock valued at $256,000 after buying an additional 77 shares during the period. Geneos Wealth Management Inc. boosted its position in FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 79 shares during the last quarter. Vista Finance LLC grew its stake in FirstService by 4.1% in the 2nd quarter. Vista Finance LLC now owns 2,081 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 81 shares during the period. Finally, Accretive Wealth Partners LLC raised its holdings in FirstService by 1.3% in the 2nd quarter. Accretive Wealth Partners LLC now owns 6,883 shares of the financial services provider’s stock valued at $1,202,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FSV. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of FirstService in a report on Monday, December 22nd. BMO Capital Markets restated an “outperform” rating and issued a $202.00 target price on shares of FirstService in a report on Thursday, February 5th. TD Securities reaffirmed a “buy” rating and set a $217.00 price target on shares of FirstService in a research note on Thursday, February 5th. Finally, Scotiabank raised shares of FirstService from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the stock from $220.00 to $205.00 in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, FirstService currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

FirstService Stock Performance

Shares of FSV stock opened at $157.54 on Thursday. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 49.85, a PEG ratio of 4.36 and a beta of 1.06. The company’s 50-day simple moving average is $156.91 and its 200-day simple moving average is $173.61. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 1.69. FirstService Corporation has a one year low of $147.23 and a one year high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company posted $1.34 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 31st will be paid a $0.305 dividend. The ex-dividend date is Tuesday, March 31st. This is an increase from FirstService’s previous quarterly dividend of $0.28. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. FirstService’s dividend payout ratio (DPR) is 34.81%.

FirstService Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.