Gulf International Bank UK Ltd Has $379,000 Holdings in FirstService Corporation $FSV

Key Points

• Gulf International Bank UK Ltd significantly increased its stake in FirstService Corporation by 2,185.0% during the first quarter, bringing its total holdings to 2,285 shares valued at $379,000.
• FirstService reported a Q2 earnings per share (EPS) of $1.71, exceeding estimates by $0.26, and the company’s revenue for the quarter was up 9.1% year-over-year.
• Wall Street analysts have raised their price targets for FirstService, with Scotiabank targeting $220.00, and the stock is currently rated as a "Moderate Buy."

Gulf International Bank UK Ltd lifted its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 2,185.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,285 shares of the financial services provider's stock after acquiring an additional 2,185 shares during the period. Gulf International Bank UK Ltd's holdings in FirstService were worth $379,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FSV. Russell Investments Group Ltd. grew its stake in FirstService by 32.1% during the first quarter. Russell Investments Group Ltd. now owns 54,244 shares of the financial services provider's stock worth $8,998,000 after buying an additional 13,183 shares in the last quarter. HighTower Advisors LLC grew its stake in FirstService by 2.8% during the first quarter. HighTower Advisors LLC now owns 3,058 shares of the financial services provider's stock worth $508,000 after buying an additional 84 shares in the last quarter. Sustainable Insight Capital Management LLC grew its stake in FirstService by 9.6% during the first quarter. Sustainable Insight Capital Management LLC now owns 2,617 shares of the financial services provider's stock worth $434,000 after buying an additional 230 shares in the last quarter. Nuveen LLC acquired a new stake in FirstService during the first quarter worth about $4,690,000. Finally, King Luther Capital Management Corp grew its stake in FirstService by 11.0% during the first quarter. King Luther Capital Management Corp now owns 39,584 shares of the financial services provider's stock worth $6,569,000 after buying an additional 3,920 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TD Securities increased 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. Scotiabank increased their target price on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $217.75.

FirstService Trading Up 1.6%

NASDAQ FSV traded up $3.2510 during trading hours on Friday, reaching $200.5910. The company's stock had a trading volume of 57,207 shares, compared to its average volume of 138,413. The firm has a fifty day simple moving average of $185.46 and a 200-day simple moving average of $176.84. The stock has a market cap of $9.14 billion, a P/E ratio of 64.31 and a beta of 0.95. FirstService Corporation has a 52 week low of $153.13 and a 52 week high of $201.67. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76.

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 earnings per share (EPS) 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 analyst estimates of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The firm's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS. Equities analysts forecast 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.