FirstService Corporation (NASDAQ:FSV) Shares Acquired by US Bancorp DE

US Bancorp DE lifted its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,431 shares of the financial services provider’s stock after buying an additional 97 shares during the period. US Bancorp DE’s holdings in FirstService were worth $238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FSV. TCTC Holdings LLC boosted its position in shares of FirstService by 155.2% during the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock worth $28,000 after buying an additional 104 shares during the period. Spire Wealth Management boosted its position in shares of FirstService by 52.1% during the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock worth $90,000 after buying an additional 186 shares during the period. Natixis boosted its position in shares of FirstService by 5,511.1% during the fourth quarter. Natixis now owns 505 shares of the financial services provider’s stock worth $91,000 after buying an additional 496 shares during the period. State of Wyoming bought a new stake in FirstService during the fourth quarter worth approximately $101,000. Finally, Fifth Third Bancorp raised its holdings in FirstService by 23.0% during the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 144 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Price Performance

Shares of NASDAQ:FSV opened at $199.65 on Friday. The company’s fifty day moving average is $183.39 and its two-hundred day moving average is $176.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $201.10. The company has a market cap of $9.09 billion, a P/E ratio of 63.99 and a beta of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $1.36 EPS. The company’s revenue was up 9.1% on a year-over-year basis. Equities analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. TD Securities upped their price target on FirstService from $200.00 to $211.00 and gave the company a “hold” rating in a report on Friday, July 25th. Finally, Scotiabank upped their price target on FirstService from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $217.75.

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.