Amundi Boosts Holdings in FirstService Corporation $FSV

Amundi raised its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,134 shares of the financial services provider’s stock after acquiring an additional 4,972 shares during the quarter. Amundi owned approximately 0.16% of FirstService worth $12,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Fiera Capital Corp raised its stake in shares of FirstService by 3.9% in the first quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider’s stock worth $44,639,000 after buying an additional 10,087 shares during the period. TD Asset Management Inc boosted its position in shares of FirstService by 61.6% in the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider’s stock worth $55,637,000 after purchasing an additional 127,846 shares during the period. Summit Creek Advisors LLC increased its stake in shares of FirstService by 8.4% in the first quarter. Summit Creek Advisors LLC now owns 115,245 shares of the financial services provider’s stock worth $19,125,000 after purchasing an additional 8,961 shares in the last quarter. Baskin Financial Services Inc. increased its stake in shares of FirstService by 0.6% in the first quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider’s stock worth $41,757,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Spire Wealth Management increased its stake in FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock worth $90,000 after buying an additional 186 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

NASDAQ FSV opened at $205.89 on Wednesday. The company has a market cap of $9.38 billion, a PE ratio of 65.99 and a beta of 0.96. The firm’s 50 day moving average price is $192.21 and its 200-day moving average price is $179.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. FirstService Corporation has a 52-week low of $153.13 and a 52-week high of $206.51.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Scotiabank lifted their target price on FirstService from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, TD Securities reaffirmed a “hold” rating on shares of FirstService in a research note on Thursday, September 4th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, FirstService 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.