Federation des caisses Desjardins du Quebec Grows Stock Holdings in FirstService Corporation $FSV

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in FirstService Corporation by 9.1%, now owning 22,117 shares worth approximately $3.66 million.
• FirstService's recent quarterly earnings showed earnings per share of $1.71, exceeding expectations of $1.45, with a revenue of $1.42 billion up 9.1% year-over-year.
• Analysts have mixed ratings on FirstService, with a consensus rating of "Moderate Buy" and an average target price of $217.75, indicating potential upside.

Federation des caisses Desjardins du Quebec lifted its stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,117 shares of the financial services provider's stock after acquiring an additional 1,846 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in FirstService were worth $3,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in FSV. Orbis Allan Gray Ltd grew its position in FirstService by 18.8% during the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider's stock valued at $235,183,000 after buying an additional 224,125 shares during the period. Brown Advisory Inc. bought a new stake in FirstService during the first quarter valued at approximately $30,523,000. TD Asset Management Inc grew its position in FirstService by 61.6% during the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider's stock valued at $55,637,000 after buying an additional 127,846 shares during the period. Geneva Capital Management LLC grew its position in FirstService by 52.3% during the first quarter. Geneva Capital Management LLC now owns 362,293 shares of the financial services provider's stock valued at $60,123,000 after buying an additional 124,385 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in FirstService by 27.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider's stock valued at $88,459,000 after buying an additional 115,898 shares during the period. 69.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a report on Sunday. Scotiabank upped their price target on shares of FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Finally, TD Securities reaffirmed a "hold" rating on shares of FirstService in a research note on Thursday, September 4th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $217.75.

FirstService Stock Down 0.4%

NASDAQ:FSV traded down $0.87 during mid-day trading on Wednesday, reaching $205.03. The company's stock had a trading volume of 16,610 shares, compared to its average volume of 133,300. FirstService Corporation has a 1 year low of $153.13 and a 1 year high of $206.51. The stock has a fifty day moving average of $192.21 and a 200-day moving average of $179.24. The firm has a market capitalization of $9.34 billion, a PE ratio of 65.71 and a beta of 0.96. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly 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 business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company's quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Equities research 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.