FirstService Corporation $FSV Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. has increased its holdings in FirstService Corporation by 2.0% in Q1, owning 178,110 shares valued at approximately $29.6 million.
• FirstService reported $1.71 earnings per share (EPS) for the quarter, exceeding estimates and showing a year-over-year revenue increase of 9.1%.
• An array of brokerages have raised their price targets for FirstService, with TD Securities and Scotiabank setting targets of $211.00 and $220.00, respectively.

Invesco Ltd. grew its position in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 178,110 shares of the financial services provider's stock after acquiring an additional 3,566 shares during the period. Invesco Ltd. owned about 0.39% of FirstService worth $29,557,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fiera Capital Corp raised its position in shares of FirstService by 3.9% in the first quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider's stock worth $44,639,000 after acquiring an additional 10,087 shares during the period. Summit Creek Advisors LLC raised its position in shares of FirstService by 8.4% during the 1st quarter. Summit Creek Advisors LLC now owns 115,245 shares of the financial services provider's stock worth $19,125,000 after purchasing an additional 8,961 shares during the last quarter. TD Asset Management Inc raised its position in shares of FirstService by 61.6% during the 1st quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider's stock worth $55,637,000 after purchasing an additional 127,846 shares during the last quarter. Baskin Financial Services Inc. raised its position in shares of FirstService by 0.6% during the 1st quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider's stock worth $41,757,000 after purchasing an additional 1,588 shares during the last quarter. Finally, Spire Wealth Management raised its position in shares of FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

Analyst Ratings Changes

FSV has been the subject of several research analyst reports. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Scotiabank upped their price target on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Finally, TD Securities upped their price target 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. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, FirstService presently has an average rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Price Performance

NASDAQ FSV traded up $2.45 during trading hours on Friday, hitting $199.79. 117,274 shares of the company's stock traded hands, compared to its average volume of 148,886. FirstService Corporation has a 52-week low of $153.13 and a 52-week high of $201.67. The company has a market capitalization of $9.10 billion, a PE ratio of 64.04 and a beta of 0.95. 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's 50-day moving average is $185.92 and its 200-day moving average is $176.96.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.26. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The business's revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 EPS. Equities analysts forecast that FirstService Corporation will post 5.27 EPS for the current fiscal year.

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.