Blair William & Co. IL Boosts Holdings in FirstService Corporation (NASDAQ:FSV)

Key Points

• Blair William & Co. IL increased its stake in FirstService Corporation by 2.4% during the first quarter, acquiring an additional 2,187 shares, bringing its total holdings to 92,651 shares valued at approximately $15.4 million.
• Analysts are optimistic about FirstService, with Wall Street Zen upgrading the stock from a "hold" to a "buy" rating and TD Securities raising its price target from $200 to $211.
• FirstService Corporation reported a strong quarterly performance with an earnings per share of $1.71, exceeding estimates by $0.26, and revenues of $1.42 billion, up 9.1% year-over-year.

Blair William & Co. IL boosted its stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,651 shares of the financial services provider's stock after buying an additional 2,187 shares during the quarter. Blair William & Co. IL owned 0.20% of FirstService worth $15,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TCTC Holdings LLC increased its holdings in FirstService by 155.2% in the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Spire Wealth Management lifted its stake in FirstService by 52.1% during the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after purchasing an additional 186 shares in the last quarter. Natixis boosted its position in shares of FirstService by 5,511.1% during the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after buying an additional 496 shares during the period. State of Wyoming acquired a new stake in shares of FirstService in the fourth quarter valued at $101,000. Finally, Fifth Third Bancorp raised its holdings in shares of FirstService by 23.0% in the 1st 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. 69.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSV has been the subject of several research reports. Scotiabank lifted 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. TD Securities raised their price objective on shares of FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, FirstService has a consensus rating of "Moderate Buy" and an average price target of $217.75.

FirstService Stock Down 0.5%

NASDAQ:FSV traded down $1.02 during mid-day trading on Friday, hitting $197.73. The stock had a trading volume of 43,740 shares, compared to its average volume of 140,759. FirstService Corporation has a twelve month low of $153.13 and a twelve month high of $201.10. The stock has a 50-day simple moving average of $181.20 and a two-hundred day simple moving average of $175.86. The company has a current ratio of 1.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $8.99 billion, a PE ratio of 63.35 and a beta of 0.95.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted 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. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%. FirstService's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. On average, equities research analysts anticipate that FirstService Corporation will post 5.27 EPS for the current year.

About FirstService

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.