FirstService Corporation $FSV Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its FirstService stake by 13.9% in the second quarter, bringing its holdings to 66,437 shares valued at approximately $9.5 million. Institutional investors and hedge funds collectively own 69.35% of the company.
• Analyst sentiment remains positive, with eight analysts rating FirstService a Buy and four a Hold. The consensus rating is Moderate Buy, with an average price target of $184.20.
• FirstService reported quarterly EPS of $1.75, exceeding estimates by $0.04, while revenue rose 2.4% year over year to $1.44 billion. Shares opened at $144.11, up 0.8%.

TD Waterhouse Canada Inc. raised its stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 13.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 66,437 shares of the financial services provider's stock after buying an additional 8,084 shares during the period. TD Waterhouse Canada Inc. owned about 0.15% of FirstService worth $9,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ewing Morris & Co. Investment Partners Ltd. grew its holdings in FirstService by 35.8% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 19,967 shares of the financial services provider's stock worth $2,843,000 after acquiring an additional 5,267 shares during the period. Nykredit A S acquired a new position in FirstService in the second quarter valued at approximately $2,203,000. Grandeur Peak Global Advisors LLC acquired a new position in FirstService in the second quarter valued at approximately $668,000. Two Sigma Securities LLC purchased a new stake in FirstService in the 2nd quarter worth approximately $462,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab boosted its position in FirstService by 39.4% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 21,200 shares of the financial services provider's stock worth $3,014,000 after purchasing an additional 5,990 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on FSV. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $144.00 target price on shares of FirstService in a report on Friday, July 24th. TD increased their price target on shares of FirstService from $204.00 to $207.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $175.00 price target on shares of FirstService in a research report on Friday, July 24th. TD Cowen reaffirmed a "buy" rating and issued a $204.00 price objective on shares of FirstService in a report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded shares of FirstService from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $184.20.

FirstService Stock Up 0.8%

FirstService stock opened at $144.11 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $6.29 billion, a PE ratio of 40.82, a price-to-earnings-growth ratio of 3.19 and a beta of 0.93. The business has a 50 day simple moving average of $142.84 and a 200-day simple moving average of $142.01. FirstService Corporation has a 12 month low of $119.41 and a 12 month high of $209.66.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.04. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm posted $1.71 EPS. The business's revenue was up 2.4% on a year-over-year basis. On average, analysts anticipate that FirstService Corporation will post 5.61 EPS for the current fiscal year.

FirstService Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.

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