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FirstService Corporation $FSV Shares Purchased by William Blair Investment Management LLC

FirstService logo with Finance background

Key Points

  • William Blair Investment Management LLC increased its stake in FirstService Corporation by 1.1%, now holding approximately 511,487 shares valued at $89.3 million.
  • Several hedge funds have also raised their positions in FirstService, with Vanguard Group increasing its holdings by 1.2% to 1.8 million shares worth $301 million.
  • FirstService reported better-than-expected earnings of $1.71 per share for the last quarter, surpassing analyst estimates by $0.26.
  • MarketBeat previews the top five stocks to own by November 1st.

William Blair Investment Management LLC boosted its position in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 511,487 shares of the financial services provider's stock after purchasing an additional 5,542 shares during the period. William Blair Investment Management LLC owned approximately 1.13% of FirstService worth $89,316,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of FirstService by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider's stock worth $301,051,000 after buying an additional 20,872 shares during the last quarter. Orbis Allan Gray Ltd grew its position in FirstService by 18.8% in the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider's stock worth $235,183,000 after acquiring an additional 224,125 shares during the period. Price T Rowe Associates Inc. MD increased its stake in FirstService by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider's stock worth $111,424,000 after acquiring an additional 15,334 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 last quarter. Finally, Copeland Capital Management LLC grew its holdings in shares of FirstService by 7.2% during the 1st quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider's stock worth $63,534,000 after purchasing an additional 25,829 shares during the period. Hedge funds and other institutional investors own 69.35% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FSV shares. Zacks Research downgraded shares of FirstService from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. TD Securities restated a "hold" rating on shares of FirstService in a research note on Thursday, September 4th. Scotiabank raised their price target on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of FirstService in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.75.

Get Our Latest Research Report on FirstService

FirstService Trading Up 0.2%

NASDAQ:FSV opened at $183.26 on Friday. FirstService Corporation has a 12-month low of $153.13 and a 12-month high of $209.66. The firm has a market cap of $8.36 billion, a PE ratio of 58.74 and a beta of 0.99. 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 stock has a fifty day moving average price of $195.75 and a 200 day moving average price of $183.39.

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

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were given a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.6%. FirstService's dividend payout ratio is currently 35.26%.

FirstService Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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