Avantax Advisory Services Inc. Acquires 1,376 Shares of FirstService Corporation (NASDAQ:FSV)

Key Points

• Avantax Advisory Services Inc. increased its holdings in FirstService Corporation by 28.2% in Q1, owning 6,264 shares valued at approximately $1,039,000 after acquiring 1,376 additional shares.
• FirstService reported better-than-expected quarterly earnings, with EPS of $1.71 and revenue of $1.42 billion, exceeding analysts' estimates.
• The company declared a quarterly dividend of $0.275, yielding 0.6%, with a payout ratio of 35.26% as of the last earnings report.

Avantax Advisory Services Inc. grew its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 28.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,264 shares of the financial services provider's stock after acquiring an additional 1,376 shares during the period. Avantax Advisory Services Inc.'s holdings in FirstService were worth $1,039,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FSV. Spire Wealth Management raised its stake in shares of FirstService by 52.1% during the first 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 during the last quarter. Natixis raised its stake in FirstService by 5,511.1% during the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after buying an additional 496 shares during the last quarter. State of Wyoming bought a new position in FirstService during the fourth quarter worth $101,000. Fifth Third Bancorp raised its stake in FirstService by 23.0% during the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after buying an additional 144 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in FirstService during the fourth quarter worth $201,000. Institutional investors own 69.35% of the company's stock.

FirstService Trading Down 0.7%

NASDAQ:FSV opened at $195.80 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.94 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 62.76 and a beta of 0.95. The firm has a fifty day simple moving average of $179.43 and a two-hundred day simple moving average of $175.39. FirstService Corporation has a 12 month low of $153.13 and a 12 month high of $201.10.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.26. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $1.36 earnings per share. Analysts expect that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 30th. FirstService's dividend payout ratio (DPR) is presently 35.26%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TD Securities lifted their target price on shares of FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Scotiabank reissued a "sector perform" rating and set a $220.00 target price (up previously from $210.00) on shares of FirstService in a research note on Wednesday. Finally, Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.

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