Forsta AP Fonden Purchases Shares of 2,500 FirstService Corporation (NASDAQ:FSV)

Key Points

• Forsta AP Fonden has purchased a new position in FirstService Corporation, acquiring 2,500 shares valued at approximately $414,000.
• Several institutional investors have also increased their stakes in FirstService, with 69.35% of the stock now being held by these entities.
• Equities analysts have upgraded FirstService shares, with a consensus price target of $217.75 and an average rating of "Moderate Buy."

Forsta AP Fonden acquired a new position in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,500 shares of the financial services provider's stock, valued at approximately $414,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FSV. Allianz Asset Management GmbH boosted its position in FirstService by 1.3% in the first quarter. Allianz Asset Management GmbH now owns 5,784 shares of the financial services provider's stock valued at $959,000 after buying an additional 76 shares in the last quarter. Diversify Wealth Management LLC boosted its position in FirstService by 4.4% in the first quarter. Diversify Wealth Management LLC now owns 2,127 shares of the financial services provider's stock valued at $366,000 after buying an additional 89 shares in the last quarter. Bank of Nova Scotia Trust Co. boosted its position in FirstService by 1.2% in the first quarter. Bank of Nova Scotia Trust Co. now owns 7,394 shares of the financial services provider's stock valued at $1,227,000 after buying an additional 90 shares in the last quarter. US Bancorp DE boosted its position in FirstService by 7.3% in the first quarter. US Bancorp DE now owns 1,431 shares of the financial services provider's stock valued at $238,000 after buying an additional 97 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in FirstService by 0.5% in the fourth quarter. Stifel Financial Corp now owns 21,205 shares of the financial services provider's stock valued at $3,838,000 after buying an additional 102 shares in the last quarter. Institutional investors own 69.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FSV. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. TD Securities upped their target price on shares of FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Finally, Scotiabank upped their target price 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Stock Down 0.7%

Shares of FSV stock traded down $1.43 during trading hours on Friday, hitting $198.22. 70,534 shares of the company were exchanged, compared to its average volume of 140,305. The business has a 50 day moving average of $183.39 and a two-hundred day moving average of $176.30. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. FirstService Corporation has a 52 week low of $153.13 and a 52 week high of $201.10. The company has a market capitalization of $9.03 billion, a PE ratio of 63.53 and a beta of 0.95.

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