1,674 Shares in FirstService Corporation $FSV Acquired by Cetera Investment Advisers

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 stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,674 shares of the financial services provider's stock, valued at approximately $278,000.

A number of other large investors have also recently bought and sold shares of the company. Spire Wealth Management raised its holdings in shares of 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 purchasing an additional 186 shares during the last quarter. Natixis grew its position in FirstService by 5,511.1% in the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 496 shares in the last quarter. State of Wyoming acquired a new stake in FirstService in the 4th quarter valued at $101,000. Fifth Third Bancorp increased its stake in 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 last quarter. Finally, Two Sigma Advisers LP bought a new stake in FirstService during the 4th quarter worth about $201,000. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Trading Up 0.6%

Shares of NASDAQ:FSV traded up $1.26 during midday trading on Tuesday, hitting $201.51. 86,479 shares of the stock were exchanged, compared to its average volume of 134,182. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 64.59 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The business's 50-day moving average price is $186.85 and its 200 day moving average price is $177.38. FirstService Corporation has a 12 month low of $153.13 and a 12 month high of $202.56.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.26. The company 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%.The firm's quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 earnings per share. Analysts predict that FirstService Corporation will post 5.27 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FSV. TD Securities raised their price objective on FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a report on Friday, July 25th. Scotiabank increased their price target on FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded 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 company. According to MarketBeat.com, the company presently has a consensus 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.