FirstService Corporation (NASDAQ:FSV) Shares Purchased by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC increased its stake in FirstService Corporation by 52.3%, owning approximately 0.80% of the company, valued at $60.1 million as of its latest SEC filing.
• FirstService reported $1.71 earnings per share for the quarter, surpassing the expected $1.45, with quarterly revenue reaching $1.42 billion, a 9.1% increase year-over-year.
• The company declared a quarterly dividend of $0.275 per share, reflecting a dividend yield of 0.6%, with a payout ratio of 35.26%.

Geneva Capital Management LLC boosted its position in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 52.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 362,293 shares of the financial services provider's stock after acquiring an additional 124,385 shares during the quarter. Geneva Capital Management LLC owned 0.80% of FirstService worth $60,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blair William & Co. IL increased its holdings in FirstService by 2.4% in the 1st quarter. Blair William & Co. IL now owns 92,651 shares of the financial services provider's stock valued at $15,375,000 after purchasing an additional 2,187 shares in the last quarter. Scotia Capital Inc. raised its holdings in shares of FirstService by 7.2% during the 1st quarter. Scotia Capital Inc. now owns 29,703 shares of the financial services provider's stock valued at $4,910,000 after buying an additional 1,993 shares during the period. Bank of Nova Scotia Trust Co. boosted its holdings in FirstService by 1.2% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 7,394 shares of the financial services provider's stock worth $1,227,000 after acquiring an additional 90 shares during the period. Blueshift Asset Management LLC acquired a new stake in FirstService in the first quarter valued at approximately $226,000. Finally, US Bancorp DE lifted its position in shares of FirstService by 7.3% during the first quarter. US Bancorp DE now owns 1,431 shares of the financial services provider's stock worth $238,000 after purchasing an additional 97 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Stock Performance

FSV stock traded up $2.16 during midday trading on Thursday, reaching $198.14. The company had a trading volume of 64,145 shares, compared to its average volume of 140,850. The company has a quick ratio of 1.94, a current ratio of 1.76 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $180.74 and a 200 day moving average price of $175.75. The firm has a market capitalization of $9.01 billion, a PE ratio of 63.47 and a beta of 0.95. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $201.10.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its 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. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $1.36 earnings per share. Analysts anticipate that FirstService Corporation will post 5.27 earnings per share for the current year.

Analysts Set New Price Targets

FSV has been the topic of several analyst reports. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. TD Securities lifted their price target on FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Finally, Scotiabank boosted their price target on FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, FirstService currently has an average rating of "Moderate Buy" and a consensus price target of $217.75.

About FirstService

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.