Amundi Sells 9,273 Shares of FirstService Corporation $FSV

Key Points

• Amundi cut its FirstService stake by 11.8% in the second quarter, selling 9,273 shares and retaining 69,377 shares worth approximately $9.86 million. Institutional investors collectively own 69.35% of the company.
• Analyst sentiment remains favorable, with eight Buy ratings and four Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $184.20.
• FirstService reported quarterly earnings of $1.75 per share, beating estimates by $0.04, while revenue reached $1.44 billion, up 2.4% year over year.

Amundi reduced its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 11.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,377 shares of the financial services provider's stock after selling 9,273 shares during the period. Amundi owned approximately 0.16% of FirstService worth $9,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSV. JPL Wealth Management LLC bought a new stake in shares of FirstService during the 3rd quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its stake in FirstService by 88.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider's stock valued at $27,000 after buying an additional 81 shares during the period. Kestra Advisory Services LLC acquired a new position in FirstService in the fourth quarter valued at about $34,000. Geneos Wealth Management Inc. boosted its holdings in FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider's stock worth $35,000 after buying an additional 79 shares during the last quarter. Finally, Strs Ohio bought a new position in FirstService during the first quarter worth about $38,000. 69.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on FSV shares. BMO Capital Markets lowered their price target on FirstService from $199.00 to $192.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. Wall Street Zen lowered shares of FirstService from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings restated a "hold (c-)" rating on shares of FirstService in a report on Wednesday, August 26th. TD boosted their price objective on shares of FirstService from $204.00 to $207.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Finally, TD Securities reaffirmed a "buy" rating and issued a $195.00 target price on shares of FirstService in a research note on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $184.20.

FirstService Stock Performance

Shares of FSV stock opened at $137.78 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 1.63. FirstService Corporation has a 52 week low of $119.41 and a 52 week high of $208.75. The company's 50 day moving average price is $142.36 and its two-hundred day moving average price is $141.43. The company has a market capitalization of $6.02 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 3.05 and a beta of 0.93.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.04. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.44 billion. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.71 earnings per share. On average, analysts expect that FirstService Corporation will post 5.61 earnings per share for the current fiscal year.

About FirstService

FirstService Corporation is a property services company serving residential and commercial property owners, residents, and businesses primarily in the United States and Canada. The company operates through two main divisions: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium, cooperative, homeowners, and other residential communities. Its services include community association management, property maintenance, financial administration, compliance support, and resident services.

FirstService Brands operates a network of service businesses that support property repair, maintenance, improvement, and restoration.

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