Envestnet Asset Management Inc. Acquires 14,579 Shares of FirstService Co. (NASDAQ:FSV)

Envestnet Asset Management Inc. boosted its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 193,129 shares of the financial services provider’s stock after acquiring an additional 14,579 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.43% of FirstService worth $29,427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd grew its holdings in FirstService by 25.9% during the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 75 shares during the last quarter. Scotia Capital Inc. grew its holdings in FirstService by 0.7% during the fourth quarter. Scotia Capital Inc. now owns 11,049 shares of the financial services provider’s stock valued at $1,785,000 after purchasing an additional 81 shares during the last quarter. Fifth Third Bancorp grew its holdings in FirstService by 20.5% during the second quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 108 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in FirstService by 40.6% during the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 141 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of FirstService by 2.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,040 shares of the financial services provider’s stock worth $998,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FSV. Scotiabank raised their price objective on shares of FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. TD Securities raised their price objective on shares of FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets raised their price objective on shares of FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $189.50.

FirstService Stock Up 0.3 %

FSV opened at $181.01 on Friday. FirstService Co. has a fifty-two week low of $134.77 and a fifty-two week high of $182.88. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s fifty day moving average price is $173.80 and its two-hundred day moving average price is $161.28. The company has a market capitalization of $8.14 billion, a P/E ratio of 89.61 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company earned $1.37 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. On average, analysts anticipate that FirstService Co. will post 4.32 EPS for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. FirstService’s payout ratio is presently 49.50%.

FirstService 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.