Hsbc Holdings PLC Has $6.55 Million Position in FirstService Corporation $FSV

Key Points

• Hsbc Holdings PLC has increased its stock holdings in FirstService Corporation by 122.0%, owning 39,590 shares valued at approximately $6.55 million.
• FirstService Corporation reported a quarterly earnings per share (EPS) of $1.71, exceeding analysts' expectations of $1.45 and generating a revenue of $1.42 billion, up 9.1% year-over-year.
• Several analysts have recently upgraded FirstService's stock, with new price targets ranging from $200.00 to $220.00, classifying the stock as a "Moderate Buy" based on market consensus.

Hsbc Holdings PLC grew its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 122.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 39,590 shares of the financial services provider's stock after purchasing an additional 21,753 shares during the period. Hsbc Holdings PLC owned approximately 0.09% of FirstService worth $6,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FSV. TCTC Holdings LLC increased its stake in shares of FirstService by 155.2% in the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Spire Wealth Management increased its stake in shares of FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after purchasing an additional 186 shares during the last quarter. State of Wyoming bought a new position in shares of FirstService in the 4th quarter valued at $101,000. Fifth Third Bancorp increased its stake in shares of FirstService by 23.0% in the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock valued at $128,000 after purchasing an additional 144 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of FirstService in the 4th quarter valued at $201,000. Institutional investors own 69.35% of the company's stock.

Wall Street Analyst Weigh In

FSV has been the topic of several recent analyst reports. Scotiabank lifted their price target on FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. TD Securities lifted their price target on FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Trading Down 0.3%

FSV traded down $0.55 during midday trading on Thursday, hitting $200.62. 61,107 shares of the company were exchanged, compared to its average volume of 102,669. The firm has a market capitalization of $9.14 billion, a P/E ratio of 64.30 and a beta of 0.95. FirstService Corporation has a 1-year low of $153.13 and a 1-year high of $202.55. The firm's 50 day moving average price is $187.78 and its 200-day moving average price is $177.71. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results 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. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. As a group, equities analysts forecast that FirstService Corporation will post 5.27 EPS 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.