Amundi Has $12.05 Million Holdings in FirstService Corporation $FSV

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 boosted its position in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,134 shares of the financial services provider's stock after buying 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.

Several other hedge funds and other institutional investors have also bought and sold shares of FSV. TCTC Holdings LLC lifted its holdings in FirstService by 155.2% in the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock valued at $28,000 after buying an additional 104 shares during the period. Spire Wealth Management lifted its holdings in FirstService by 52.1% in the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after buying an additional 186 shares during the period. SVB Wealth LLC acquired a new position in FirstService in the first quarter valued at $90,000. State of Wyoming acquired a new position in FirstService in the fourth quarter valued at $101,000. Finally, Fifth Third Bancorp lifted its holdings in FirstService by 23.0% in the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock valued at $128,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Stock Down 1.9%

Shares of NASDAQ FSV traded down $4.02 during trading on Friday, hitting $204.41. 71,409 shares of the company traded hands, compared to its average volume of 73,363. The business's fifty day moving average is $193.91 and its 200 day moving average is $179.85. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $209.66. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 65.52 and a beta of 0.96. 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 (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share 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 firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. The business's quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

FirstService Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on FSV. Scotiabank boosted their target price on shares of FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Finally, TD Securities reiterated a "hold" rating on shares of FirstService in a report on Thursday, September 4th. Two 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $217.75.

FirstService Company 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.