Wealth Enhancement Advisory Services LLC Has $406,000 Stock Position in FirstService Co. (NASDAQ:FSV)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 54.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,224 shares of the financial services provider’s stock after purchasing an additional 787 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in FirstService were worth $406,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in shares of FirstService by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock worth $415,427,000 after purchasing an additional 174,970 shares during the last quarter. Vanguard Group Inc. increased its position in FirstService by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after buying an additional 76,503 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in FirstService by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock valued at $217,409,000 after buying an additional 44,236 shares during the period. William Blair Investment Management LLC lifted its position in shares of FirstService by 0.8% in the second quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock valued at $131,323,000 after buying an additional 6,863 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of FirstService by 3.4% during the 2nd quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider’s stock worth $98,033,000 after acquiring an additional 21,100 shares during the period. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stifel Nicolaus raised their price target on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. TD Securities lifted their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price target on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Scotiabank boosted their price objective on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.33.

FirstService Stock Performance

Shares of NASDAQ:FSV opened at $188.05 on Friday. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $192.71. The company’s 50 day moving average price is $183.15 and its two-hundred day moving average price is $167.02. The firm has a market cap of $8.48 billion, a PE ratio of 78.35 and a beta of 1.05. The company has a quick ratio of 1.84, a current ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.21. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 earnings per share. Equities research analysts predict that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, September 30th. FirstService’s dividend payout ratio (DPR) is presently 41.67%.

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.