Aptus Capital Advisors LLC Takes Position in FirstService Corporation $FSV

Key Points

• Aptus Capital Advisors LLC has acquired a new stake in FirstService Corporation, purchasing 29,408 shares valued at approximately $4.88 million.
• FirstService's stock has been upgraded by analysts, with Wall Street Zen raising its rating from "hold" to "buy" and Scotiabank increasing its target price from $210 to $220.
• FirstService reported a strong quarterly performance, with earnings per share of $1.71, surpassing analyst estimates by $0.26, and a revenue increase of 9.1% year-over-year.

Aptus Capital Advisors LLC acquired a new position in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 29,408 shares of the financial services provider's stock, valued at approximately $4,880,000. Aptus Capital Advisors LLC owned about 0.06% of FirstService at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC grew its stake in FirstService by 155.2% during the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after buying an additional 104 shares during the last quarter. Natixis grew its stake in FirstService by 5,511.1% during the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after buying an additional 496 shares during the last quarter. Spire Wealth Management grew its stake in FirstService by 52.1% during 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 during the last quarter. State of Wyoming bought a new position in FirstService during the 4th quarter worth $101,000. Finally, Fifth Third Bancorp grew its stake in FirstService by 23.0% during the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after buying an additional 144 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on FSV shares. TD Securities upped their price objective on FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Scotiabank increased their price target on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, FirstService currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.

FirstService Price Performance

FSV stock traded up $2.45 during trading hours on Friday, hitting $199.79. 117,274 shares of the stock traded hands, compared to its average volume of 148,886. FirstService Corporation has a one year low of $153.13 and a one year high of $201.67. The company has a market cap of $9.10 billion, a P/E ratio of 64.04 and a beta of 0.95. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. The stock has a 50-day simple moving average of $185.92 and a 200 day simple moving average of $176.96.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business posted $1.36 earnings per share. FirstService's revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that FirstService Corporation will post 5.27 earnings per share for the current year.

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.