FirstService Corporation (FSV) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 749,623 shares of the financial services provider’s stock after purchasing an additional 19,704 shares during the quarter. Vanguard Group Inc. owned approximately 2.09% of FirstService Corporation worth $47,961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fiera Capital Corp raised its holdings in FirstService Corporation by 43.6% in the 2nd quarter. Fiera Capital Corp now owns 1,176,304 shares of the financial services provider’s stock valued at $75,345,000 after buying an additional 357,370 shares during the period. JPMorgan Chase & Co. increased its stake in FirstService Corporation by 1,515.7% during the second quarter. JPMorgan Chase & Co. now owns 78,523 shares of the financial services provider’s stock worth $3,612,000 after purchasing an additional 73,663 shares during the period. Royce & Associates LP increased its stake in FirstService Corporation by 0.5% during the second quarter. Royce & Associates LP now owns 230,400 shares of the financial services provider’s stock worth $14,741,000 after purchasing an additional 1,200 shares during the period. Blair William & Co. IL increased its stake in FirstService Corporation by 0.3% during the second quarter. Blair William & Co. IL now owns 19,379 shares of the financial services provider’s stock worth $1,240,000 after purchasing an additional 49 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in FirstService Corporation by 10.3% during the first quarter. Parametric Portfolio Associates LLC now owns 7,853 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 733 shares during the period. 59.24% of the stock is currently owned by institutional investors.

FirstService Corporation (NASDAQ:FSV) opened at $67.07 on Tuesday. FirstService Corporation has a 52-week low of $40.15 and a 52-week high of $74.49. The firm has a market capitalization of $2,421.16, a price-to-earnings ratio of 54.39 and a beta of 0.86. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.95 and a quick ratio of 0.95.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.24. The business had revenue of $456.50 million for the quarter, compared to analyst estimates of $449.26 million. FirstService Corporation had a return on equity of 24.16% and a net margin of 2.74%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 earnings per share. sell-side analysts forecast that FirstService Corporation will post 1.93 EPS for the current year.

FirstService Corporation announced that its Board of Directors has initiated a share repurchase program on Thursday, August 17th that allows the company to repurchase 3,100,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of FirstService Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. William Blair downgraded FirstService Corporation from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 13th. Zacks Investment Research raised FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $80.00 price target for the company in a report on Tuesday, October 31st. Raymond James Financial, Inc. increased their price objective on FirstService Corporation from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada increased their price objective on FirstService Corporation from $65.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $69.20.

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FirstService Corporation Company Profile

Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.

Institutional Ownership by Quarter for FirstService Corporation (NASDAQ:FSV)

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