FirstService Corporation $FSV Shares Purchased by Amundi

Key Points

• Amundi increased its stake in FirstService Corporation by 7.4%, owning approximately 0.16% of the company, valued at around $12 million as of the latest SEC filing.
• FirstService reported earnings of $1.71 per share for the last quarter, surpassing analysts' expectations and achieving a 9.1% revenue growth year-over-year.
• Wall Street analysts have a Moderate Buy rating on FirstService, with target price estimates raised to an average of $217.75.

Amundi lifted its holdings in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 7.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 72,134 shares of the financial services provider's stock after acquiring an additional 4,972 shares during the period. Amundi owned approximately 0.16% of FirstService worth $12,047,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of FirstService by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider's stock worth $301,051,000 after acquiring an additional 20,872 shares during the last quarter. Orbis Allan Gray Ltd grew its stake in shares of FirstService by 18.8% during the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider's stock worth $235,183,000 after acquiring an additional 224,125 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of FirstService by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider's stock worth $111,424,000 after acquiring an additional 15,334 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of FirstService by 27.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider's stock worth $88,459,000 after acquiring an additional 115,898 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its position in FirstService by 7.2% in the first quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider's stock valued at $63,534,000 after buying an additional 25,829 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Price Performance

Shares of FSV stock traded up $0.52 during trading hours on Monday, hitting $204.93. 206,606 shares of the company's stock were exchanged, compared to its average volume of 73,406. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. The firm has a market cap of $9.33 billion, a P/E ratio of 65.68 and a beta of 0.96. The firm has a 50 day moving average of $194.47 and a two-hundred day moving average of $180.10. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $209.66.

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

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 30th. FirstService's dividend payout ratio is currently 35.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FSV shares. TD Securities reiterated a "hold" rating on shares of FirstService in a research report on Thursday, September 4th. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Finally, Scotiabank upped their target price on FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, FirstService presently has an average rating of "Moderate Buy" and an average price target 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.