FirstService Corporation (NASDAQ:FSV) Position Lifted by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp increased its stake in FirstService Corporation by 11.0%, owning 39,584 shares valued at approximately $6.57 million.
• FirstService reported $1.71 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue increase of 9.1% year-over-year.
• Analysts have set a consensus price target of $217.75 for FirstService, with several institutions adjusting their price objectives upwards recently.

King Luther Capital Management Corp raised its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,584 shares of the financial services provider's stock after purchasing an additional 3,920 shares during the quarter. King Luther Capital Management Corp owned about 0.09% of FirstService worth $6,569,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of FirstService during the fourth quarter worth about $48,541,000. Price T Rowe Associates Inc. MD boosted its holdings in FirstService by 53.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock worth $118,767,000 after buying an additional 229,889 shares in the last quarter. Brown Advisory Inc. purchased a new stake in FirstService during the first quarter worth about $30,523,000. TD Asset Management Inc boosted its holdings in FirstService by 61.6% during the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider's stock worth $55,637,000 after buying an additional 127,846 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its holdings in FirstService by 52.3% during the first quarter. Geneva Capital Management LLC now owns 362,293 shares of the financial services provider's stock worth $60,123,000 after buying an additional 124,385 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FSV has been the topic of a number of research analyst reports. TD Securities boosted their price objective on shares of FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Scotiabank boosted their price objective on shares of FirstService from $210.00 to $220.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Trading Up 2.4%

Shares of FirstService stock traded up $4.65 during trading hours on Wednesday, hitting $199.83. The company's stock had a trading volume of 207,429 shares, compared to its average volume of 170,564. The company has a market capitalization of $9.10 billion, a PE ratio of 64.05 and a beta of 0.95. The business has a fifty day moving average of $182.92 and a 200 day moving average of $176.20. 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 Corporation has a 1-year low of $153.13 and a 1-year high of $201.10.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate 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 business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. As a group, equities analysts forecast that FirstService Corporation will post 5.27 EPS for the current year.

FirstService 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.