Nuveen LLC Purchases New Holdings in FirstService Corporation $FSV

Key Points

• Nuveen LLC has acquired a new stake in FirstService Corporation, purchasing 28,288 shares valued at approximately $4.69 million during the 1st quarter.
• Several institutional investors, including TCTC Holdings LLC and Spire Wealth Management, have significantly increased their positions in FirstService, indicating strong interest from the financial sector.
• FirstService recently reported $1.71 earnings per share for the quarter, surpassing analyst expectations and reflecting a 9.1% year-over-year revenue growth.

Nuveen LLC purchased a new stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,288 shares of the financial services provider's stock, valued at approximately $4,690,000. Nuveen LLC owned 0.06% of FirstService as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC increased its position in FirstService by 155.2% during the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after purchasing an additional 104 shares during the period. Spire Wealth Management increased its position in FirstService by 52.1% during the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after purchasing an additional 186 shares during the period. State of Wyoming acquired a new position in FirstService during the 4th quarter worth approximately $101,000. Fifth Third Bancorp increased its position in FirstService by 23.0% during the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after purchasing an additional 144 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in FirstService during the 4th quarter worth approximately $201,000. Institutional investors and hedge funds own 69.35% of the company's stock.

Wall Street Analyst Weigh In

FSV has been the topic of a number of research reports. TD Securities upped their price target on FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Scotiabank upped their price target on 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 upgraded 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 issued a Hold rating to the 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 Price Performance

FSV stock opened at $201.51 on Wednesday. FirstService Corporation has a 1 year low of $153.13 and a 1 year high of $202.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The stock's 50 day moving average price is $186.85 and its 200 day moving average price is $177.38. The firm has a market cap of $9.18 billion, a P/E ratio of 64.59 and a beta of 0.95.

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. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company earned $1.36 EPS. FirstService's revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts expect that FirstService Corporation will post 5.27 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.