Vanguard Group Inc. Has $44.01 Million Stake in FirstService Corporation (FSV)
Vanguard Group Inc. increased its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,919 shares of the financial services provider’s stock after buying an additional 41,789 shares during the period. Vanguard Group Inc. owned 2.03% of FirstService Corporation worth $44,014,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FSV. Van Berkom & Associates Inc. raised its position in shares of FirstService Corporation by 1.1% in the first quarter. Van Berkom & Associates Inc. now owns 1,197,543 shares of the financial services provider’s stock valued at $72,282,000 after buying an additional 13,400 shares in the last quarter. Bank of Montreal Can raised its position in shares of FirstService Corporation by 28.6% in the first quarter. Bank of Montreal Can now owns 933,588 shares of the financial services provider’s stock valued at $56,294,000 after buying an additional 207,455 shares in the last quarter. Neuberger Berman Group LLC bought a new position in shares of FirstService Corporation during the first quarter valued at about $45,157,000. Norges Bank bought a new position in shares of FirstService Corporation during the fourth quarter valued at about $17,516,000. Finally, Hillsdale Investment Management Inc. raised its position in shares of FirstService Corporation by 33.0% in the first quarter. Hillsdale Investment Management Inc. now owns 175,650 shares of the financial services provider’s stock valued at $10,600,000 after buying an additional 43,550 shares in the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.
FirstService Corporation (NASDAQ FSV) traded up 0.62% on Friday, hitting $63.48. The stock had a trading volume of 21,150 shares. The company has a market cap of $2.28 billion, a P/E ratio of 50.78 and a beta of 0.91. FirstService Corporation has a 52-week low of $39.05 and a 52-week high of $67.41. The stock’s 50-day moving average is $64.02 and its 200-day moving average is $60.13.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $434.90 million during the quarter, compared to the consensus estimate of $421.35 million. FirstService Corporation had a net margin of 2.84% and a return on equity of 24.64%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. Analysts expect that FirstService Corporation will post $1.96 earnings per share for the current year.
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Several research analysts recently issued reports on FSV shares. BidaskClub raised FirstService Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research lowered FirstService Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada raised their target price on FirstService Corporation from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $65.00 target price on shares of FirstService Corporation in a research report on Thursday, April 27th. Finally, TheStreet raised FirstService Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $67.00.
About FirstService Corporation
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.
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