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

Envestnet Asset Management Inc. lifted its holdings in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 8.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 193,129 shares of the financial services provider’s stock after purchasing an additional 14,579 shares during the quarter. Envestnet Asset Management Inc.’s holdings in FirstService were worth $29,427,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FSV. BNP Paribas Financial Markets raised its holdings in shares of FirstService by 240.9% in the fourth quarter. BNP Paribas Financial Markets now owns 7,773 shares of the financial services provider’s stock valued at $1,260,000 after buying an additional 5,493 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FirstService by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 158,577 shares of the financial services provider’s stock valued at $25,704,000 after buying an additional 2,106 shares during the last quarter. Norges Bank bought a new position in shares of FirstService in the fourth quarter valued at about $82,488,000. Wells Fargo & Company MN raised its holdings in shares of FirstService by 11.5% in the fourth quarter. Wells Fargo & Company MN now owns 77,743 shares of the financial services provider’s stock valued at $12,606,000 after buying an additional 8,030 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in FirstService during the 4th quarter worth about $240,000. 69.35% of the stock is owned by institutional investors.

FirstService Price Performance

FirstService stock opened at $181.01 on Friday. The firm has a market capitalization of $8.14 billion, a P/E ratio of 89.61 and a beta of 1.05. FirstService Co. has a 1 year low of $134.77 and a 1 year high of $182.88. The business has a 50-day moving average of $173.80 and a 200-day moving average of $161.28. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23.

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

FirstService Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. BMO Capital Markets boosted their price objective on FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. TD Securities boosted their price objective on FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Scotiabank boosted their price objective on FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada boosted their price objective on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $189.50.

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.