Envestnet Asset Management Inc. Has $24.51 Million Stock Position in FirstService Corporation (NASDAQ:FSV)

Envestnet Asset Management Inc. lowered its stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 147,665 shares of the financial services provider's stock after selling 19,434 shares during the period. Envestnet Asset Management Inc. owned 0.32% of FirstService worth $24,505,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baskin Financial Services Inc. boosted its holdings in FirstService by 0.6% in the 1st quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider's stock valued at $41,757,000 after purchasing an additional 1,588 shares during the period. Spire Wealth Management boosted its holdings in FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after purchasing an additional 186 shares during the period. Northern Trust Corp boosted its holdings in FirstService by 41.7% in the 4th quarter. Northern Trust Corp now owns 64,496 shares of the financial services provider's stock valued at $11,675,000 after purchasing an additional 18,977 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in FirstService by 11.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,452 shares of the financial services provider's stock valued at $407,000 after purchasing an additional 248 shares during the period. Finally, Ritholtz Wealth Management bought a new position in FirstService in the 1st quarter valued at $360,000. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Stock Performance

NASDAQ:FSV traded up $2.35 during trading hours on Friday, hitting $178.12. 175,513 shares of the company were exchanged, compared to its average volume of 112,321. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 61.63 and a beta of 0.99. FirstService Corporation has a 52-week low of $153.13 and a 52-week high of $197.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.94 and a quick ratio of 1.94. The company's 50 day moving average price is $176.03 and its 200-day moving average price is $174.49.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. FirstService had a net margin of 2.46% and a return on equity of 17.49%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.67 EPS. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, research analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, June 30th. FirstService's dividend payout ratio is presently 38.06%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FSV. Scotiabank lowered their price objective on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, TD Securities boosted their price objective on shares of FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.40.

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.