T. Rowe Price Investment Management Inc. Decreases Stock Holdings in FirstService Corporation $FSV

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in FirstService Corporation by 29.2% in the first quarter, owning approximately 910,468 shares valued at about $151 million after selling 374,815 shares.
• FirstService Corporation beat earnings estimates for the most recent quarter, reporting $1.71 EPS compared to expectations of $1.45, with revenue up 9.1% year-over-year.
• Analyst ratings for FirstService are generally positive, with an average rating of "Moderate Buy" and a target price of $217.75.

T. Rowe Price Investment Management Inc. lowered its position in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 29.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 910,468 shares of the financial services provider's stock after selling 374,815 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.00% of FirstService worth $151,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TCTC Holdings LLC lifted its stake in FirstService by 155.2% in the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Spire Wealth Management raised its holdings in shares of FirstService by 52.1% in the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after buying an additional 186 shares during the last quarter. Natixis lifted its position in FirstService by 5,511.1% in the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 496 shares during the period. State of Wyoming purchased a new position in shares of FirstService during the 4th quarter worth approximately $101,000. Finally, Fifth Third Bancorp boosted its position in FirstService by 23.0% during the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after acquiring an additional 144 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. TD Securities increased their price target 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. Finally, Scotiabank raised 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. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $217.75.

FirstService Stock Down 0.1%

Shares of FSV stock traded down $0.23 during trading on Wednesday, reaching $201.29. The company's stock had a trading volume of 11,853 shares, compared to its average volume of 137,207. The business has a fifty day moving average price of $186.85 and a 200-day moving average price of $177.38. FirstService Corporation has a one year low of $153.13 and a one year high of $202.55. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 64.51 and a beta of 0.95.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 EPS 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 company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. FirstService's revenue was up 9.1% on a year-over-year basis. Analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current 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.