Nykredit A S Makes New Investment in FirstService Corporation $FSV

Key Points

• Nykredit A/S purchased 15,499 FirstService shares during the second quarter, worth approximately $2.2 million. Institutional investors collectively own 69.35% of the company.
• Analyst sentiment is generally positive, with eight Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $184.20.
• FirstService exceeded quarterly EPS expectations, reporting $1.75 versus the $1.71 consensus estimate, while revenue reached $1.44 billion and increased 2.4% year over year.

Nykredit A S purchased a new stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,499 shares of the financial services provider's stock, valued at approximately $2,203,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its position in FirstService by 52.2% in the first quarter. Bessemer Group Inc. now owns 191,970 shares of the financial services provider's stock valued at $26,672,000 after buying an additional 65,830 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of FirstService by 8.2% during the first quarter. Bank of America Corp DE now owns 240,316 shares of the financial services provider's stock worth $33,390,000 after buying an additional 18,146 shares in the last quarter. Sei Investments Co. lifted its stake in shares of FirstService by 59.2% in the 1st quarter. Sei Investments Co. now owns 63,388 shares of the financial services provider's stock valued at $8,806,000 after acquiring an additional 23,577 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of FirstService by 3.5% during the 4th quarter. Royce & Associates LP now owns 372,861 shares of the financial services provider's stock valued at $57,991,000 after acquiring an additional 12,718 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of FirstService by 27.5% during the 1st quarter. Swiss National Bank now owns 138,500 shares of the financial services provider's stock valued at $19,239,000 after acquiring an additional 29,900 shares in the last quarter. 69.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of FirstService in a report on Wednesday, August 26th. TD Securities reissued a "buy" rating and set a $195.00 price target on shares of FirstService in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $175.00 price target on shares of FirstService in a report on Friday, July 24th. TD Cowen reaffirmed a "buy" rating and issued a $204.00 price objective on shares of FirstService in a research note on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $144.00 price objective on shares of FirstService in a report on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $184.20.

FirstService Stock Performance

NASDAQ FSV opened at $144.11 on Tuesday. The stock has a market capitalization of $6.29 billion, a P/E ratio of 40.82, a P/E/G ratio of 3.19 and a beta of 0.93. The business has a 50 day simple moving average of $142.88 and a 200 day simple moving average of $141.85. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.63 and a quick ratio of 1.63. FirstService Corporation has a one year low of $119.41 and a one year high of $209.66.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.04. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The company's revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 earnings per share. Research analysts expect that FirstService Corporation will post 5.61 earnings per share for the current year.

FirstService Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.

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