Envestnet Asset Management Inc. trimmed its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 11.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,665 shares of the financial services provider's stock after selling 19,434 shares during the quarter. Envestnet Asset Management Inc. owned about 0.32% of FirstService worth $24,505,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Catawba River Capital increased its holdings in shares of FirstService by 0.4% during the 1st quarter. Catawba River Capital now owns 46,410 shares of the financial services provider's stock worth $7,702,000 after buying an additional 187 shares during the last quarter. Baskin Financial Services Inc. grew its stake in shares of FirstService by 0.6% in the first quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider's stock worth $41,757,000 after acquiring an additional 1,588 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of FirstService by 7.2% during the 1st quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider's stock worth $63,534,000 after purchasing an additional 25,829 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of FirstService by 6.6% during the 1st quarter. Bessemer Group Inc. now owns 166,205 shares of the financial services provider's stock worth $27,582,000 after purchasing an additional 10,244 shares during the last quarter. Finally, Spire Wealth Management lifted its position in shares of FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after purchasing an additional 186 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.
FirstService Price Performance
Shares of NASDAQ FSV traded up $0.53 on Friday, hitting $176.30. The company's stock had a trading volume of 25,932 shares, compared to its average volume of 111,720. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $197.84. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 60.77 and a beta of 0.99. 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 stock has a 50 day moving average of $175.93 and a 200-day moving average of $174.51.
FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (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 company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts predict that FirstService Corporation will post 5.27 EPS for the current year.
FirstService Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Monday, June 30th. FirstService's payout ratio is 38.06%.
Analyst Ratings Changes
FSV has been the subject of a number of research reports. TD Securities boosted their price target on shares of FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research report on Wednesday, May 7th. Scotiabank dropped their price target on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 17th. Finally, Wall Street Zen lowered shares of FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $208.40.
Read Our Latest Report on FSV
About FirstService
(
Free Report)
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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