Vanguard Group Inc. Grows Stake in FirstService Corporation $FSV

Vanguard Group Inc. raised its position in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,815,548 shares of the financial services provider's stock after acquiring an additional 20,872 shares during the period. Vanguard Group Inc. owned approximately 4.00% of FirstService worth $301,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of FSV. Price T Rowe Associates Inc. MD boosted its stake in FirstService by 53.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock valued at $118,767,000 after acquiring an additional 229,889 shares in the last quarter. Brown Advisory Inc. acquired a new stake in FirstService in the first quarter valued at approximately $30,523,000. TD Asset Management Inc boosted its stake in FirstService by 61.6% in 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 acquiring an additional 127,846 shares in the last quarter. Geneva Capital Management LLC boosted its stake in FirstService by 52.3% in 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 acquiring an additional 124,385 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in FirstService by 112.8% in the fourth quarter. Bank of America Corp DE now owns 216,270 shares of the financial services provider's stock valued at $39,149,000 after acquiring an additional 114,620 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Stock Performance

FSV traded up $2.45 on Friday, reaching $199.79. The stock had a trading volume of 117,274 shares, compared to its average volume of 148,886. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $201.67. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. The business's 50-day moving average price is $185.92 and its two-hundred day moving average price is $176.96. The company has a market cap of $9.10 billion, a P/E ratio of 64.04 and a beta of 0.95.

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

Analyst Ratings Changes

Several research firms have recently commented on FSV. Scotiabank lifted their price objective on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, TD Securities lifted their price objective on shares of FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, FirstService presently has an average 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.