Hsbc Holdings PLC Buys 39,616 Shares of FirstService Corporation $FSV

Hsbc Holdings PLC lifted its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 100.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 79,206 shares of the financial services provider’s stock after purchasing an additional 39,616 shares during the quarter. Hsbc Holdings PLC owned 0.17% of FirstService worth $13,792,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its position in FirstService by 0.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,092 shares of the financial services provider’s stock valued at $1,051,000 after buying an additional 52 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of FirstService by 0.6% in the second quarter. Harbor Capital Advisors Inc. now owns 9,547 shares of the financial services provider’s stock valued at $1,667,000 after acquiring an additional 59 shares during the last quarter. State of Wyoming boosted its holdings in shares of FirstService by 11.1% in the 1st quarter. State of Wyoming now owns 621 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 62 shares in the last quarter. Vista Finance LLC grew its position in FirstService by 4.1% during the 2nd quarter. Vista Finance LLC now owns 2,081 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 81 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in FirstService by 2.8% during the 1st quarter. HighTower Advisors LLC now owns 3,058 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Ratings Changes

FSV has been the topic of a number of recent analyst reports. TD Securities reduced their price objective on FirstService from $213.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. BMO Capital Markets set a $209.00 price objective on shares of FirstService and gave the company an “outperform” rating in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a research note on Monday. Finally, CIBC decreased their price target on shares of FirstService from $225.00 to $216.00 and set an “outperform” rating on the stock in a research note on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.83.

FirstService Trading Down 1.1%

FSV opened at $154.33 on Wednesday. The firm has a 50 day simple moving average of $168.63 and a 200 day simple moving average of $180.88. FirstService Corporation has a fifty-two week low of $149.13 and a fifty-two week high of $209.66. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 2.94 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.77 and a quick ratio of 1.77.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $1.76 EPS for the quarter, meeting the consensus estimate of $1.76. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the company posted $1.63 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were paid a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 annualized dividend and a yield of 0.7%. FirstService’s dividend payout ratio is presently 36.42%.

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.