Northern Trust Corp Acquires 9,013 Shares of FirstService Corporation $FSV

Northern Trust Corp raised its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 14.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,509 shares of the financial services provider’s stock after purchasing an additional 9,013 shares during the period. Northern Trust Corp owned about 0.16% of FirstService worth $12,199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FSV. Brown Advisory Inc. bought a new stake in FirstService during the 1st quarter valued at $30,523,000. TD Asset Management Inc increased its holdings in shares of FirstService by 61.6% in the 1st quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider’s stock valued at $55,637,000 after acquiring an additional 127,846 shares during the period. Geneva Capital Management LLC increased its holdings in shares of FirstService by 52.3% in the 1st quarter. Geneva Capital Management LLC now owns 362,293 shares of the financial services provider’s stock valued at $60,123,000 after acquiring an additional 124,385 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of FirstService by 27.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider’s stock valued at $88,459,000 after acquiring an additional 115,898 shares during the period. Finally, Bank of America Corp DE grew its stake in FirstService by 112.8% during the 4th quarter. Bank of America Corp DE now owns 216,270 shares of the financial services provider’s stock worth $39,149,000 after buying an additional 114,620 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

FirstService Stock Up 1.8%

FSV stock opened at $202.12 on Friday. The firm’s 50 day moving average price is $190.40 and its 200-day moving average price is $178.59. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $9.21 billion, a PE ratio of 64.78 and a beta of 0.96. FirstService Corporation has a one year low of $153.13 and a one year high of $202.55.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.26. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. On average, equities research analysts anticipate that FirstService Corporation will post 5.27 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Scotiabank upped their target price on FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 30th. Finally, TD Securities upped their target price on FirstService from $200.00 to $211.00 and gave the stock a “hold” rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $217.75.

FirstService Profile

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.