PDT Partners LLC Has $5.27 Million Position in FirstService Corporation $FSV

Key Points

• PDT Partners LLC increased its stake in FirstService Corporation by 60.9%, now owning approximately 0.07% of the company, valued at around $5.27 million.
• FirstService reported $1.71 earnings per share for the last quarter, surpassing the consensus estimate of $1.45, and its revenue increased by 9.1% year-over-year to $1.42 billion.
• Research analysts have mixed ratings on FirstService, with price targets ranging from $210 to $220, reflecting a consensus rating of "Moderate Buy" and a targeted price of $217.75.

PDT Partners LLC boosted its position in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 60.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,738 shares of the financial services provider's stock after purchasing an additional 12,012 shares during the quarter. PDT Partners LLC owned about 0.07% of FirstService worth $5,267,000 at the end of the most recent reporting period.

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

FirstService Price Performance

Shares of FSV stock traded down $0.54 on Friday, hitting $201.58. 38,276 shares of the company's stock were exchanged, compared to its average volume of 81,829. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. FirstService Corporation has a 12 month low of $153.13 and a 12 month high of $203.80. The stock has a market cap of $9.18 billion, a P/E ratio of 64.61 and a beta of 0.96. The company has a 50 day moving average of $190.97 and a 200 day moving average of $178.77.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping 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 company earned $1.36 EPS. FirstService's revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts predict that FirstService Corporation will post 5.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FSV shares. TD Securities upped their target price on FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Wall Street Zen downgraded FirstService from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Scotiabank upped 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. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, FirstService has a consensus rating of "Moderate Buy" and a consensus price target 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.