Bank of New York Mellon Corp Boosts Stock Holdings in FirstService Co. (NASDAQ:FSV)

Bank of New York Mellon Corp grew its position in FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,831 shares of the financial services provider’s stock after purchasing an additional 285 shares during the period. Bank of New York Mellon Corp owned about 0.11% of FirstService worth $7,167,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in FirstService by 39.0% in the first quarter. Russell Investments Group Ltd. now owns 25,234 shares of the financial services provider’s stock worth $3,550,000 after purchasing an additional 7,083 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of FirstService by 3.1% in the 1st quarter. Eagle Asset Management Inc. now owns 92,612 shares of the financial services provider’s stock worth $13,057,000 after buying an additional 2,753 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in FirstService by 5.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,354 shares of the financial services provider’s stock valued at $1,879,000 after buying an additional 643 shares during the period. Bradley Foster & Sargent Inc. CT increased its holdings in FirstService by 10.7% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 15,483 shares of the financial services provider’s stock worth $2,183,000 after buying an additional 1,492 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in FirstService by 24.9% in the first quarter. Global Retirement Partners LLC now owns 351 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 70 shares during the period. 69.49% of the stock is owned by institutional investors.

FirstService Trading Up 1.1 %

Shares of FSV stock opened at $152.80 on Tuesday. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 50.93 and a beta of 1.07. The company’s fifty day simple moving average is $152.93 and its two-hundred day simple moving average is $145.92. FirstService Co. has a 1 year low of $112.44 and a 1 year high of $163.95. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.90 and a quick ratio of 1.90.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. FirstService had a return on equity of 20.86% and a net margin of 3.25%. As a group, analysts anticipate that FirstService Co. will post 4.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSV has been the subject of a number of research reports. BMO Capital Markets raised shares of FirstService from a “market perform” rating to an “outperform” rating and increased their target price for the company from $166.00 to $176.00 in a research report on Friday, June 30th. Royal Bank of Canada raised their target price on FirstService from $165.00 to $173.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. StockNews.com lowered FirstService from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, TheStreet upgraded FirstService from a “c+” rating to a “b-” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, FirstService currently has a consensus rating of “Moderate Buy” and an average price target of $165.80.

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. The company operates in two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment offers property management 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.