Cetera Investment Advisers Acquires New Position in FirstService Corporation $FSV

Key Points

• Cetera Investment Advisers has acquired a new position in FirstService Corporation, purchasing 1,674 shares valued at approximately $278,000.
• FirstService reported earnings of $1.71 per share for the quarter, exceeding analyst expectations, with revenue up 9.1% year-over-year at $1.42 billion.
• Institutional investors now own 69.35% of FirstService's stock, with several firms significantly increasing their stakes during the fourth quarter.

Cetera Investment Advisers bought a new position in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,674 shares of the financial services provider's stock, valued at approximately $278,000.

Other institutional investors also recently modified their holdings of the company. Mariner LLC boosted its position in FirstService by 20.4% during the fourth quarter. Mariner LLC now owns 2,560 shares of the financial services provider's stock valued at $464,000 after acquiring an additional 433 shares during the last quarter. First Trust Advisors LP purchased a new stake in FirstService in the 4th quarter valued at about $442,000. Natixis increased its stake in FirstService by 5,511.1% in the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after buying an additional 496 shares during the last quarter. Stifel Financial Corp increased its stake in shares of FirstService by 0.5% during the 4th quarter. Stifel Financial Corp now owns 21,205 shares of the financial services provider's stock worth $3,838,000 after purchasing an additional 102 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of FirstService by 51.1% during the 4th quarter. Hsbc Holdings PLC now owns 17,837 shares of the financial services provider's stock worth $3,228,000 after purchasing an additional 6,032 shares during the last quarter. Institutional investors own 69.35% of the company's stock.

FirstService Stock Performance

Shares of NASDAQ FSV opened at $199.32 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a fifty day moving average price of $185.08 and a 200-day moving average price of $176.72. FirstService Corporation has a 1 year low of $153.13 and a 1 year high of $201.67. The stock has a market cap of $9.08 billion, a PE ratio of 63.88 and a beta of 0.95.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates 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 during 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. FirstService's revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. TD Securities lifted their target price on shares of FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Finally, Scotiabank raised their price target on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.

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