Price T Rowe Associates Inc. MD Acquires 15,334 Shares of FirstService Corporation $FSV

Key Points

• Price T Rowe Associates Inc. increased its stake in FirstService Corporation by 2.3% during Q1, acquiring an additional 15,334 shares, resulting in a total holding of 671,431 shares valued at approximately $111.4 million.
• Research analysts have upgraded FirstService, with Wall Street Zen raising its rating from "hold" to "buy" and TD Securities increasing its price target from $200 to $211, reflecting a positive outlook for the stock.
• FirstService reported stronger-than-expected earnings for the last quarter, with earnings per share of $1.71, exceeding analyst predictions, and revenue growth of 9.1% year-over-year.

Price T Rowe Associates Inc. MD boosted its position in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 671,431 shares of the financial services provider's stock after purchasing an additional 15,334 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.48% of FirstService worth $111,424,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC raised its holdings in FirstService by 155.2% in the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Spire Wealth Management raised its holdings in FirstService by 52.1% in the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after purchasing an additional 186 shares in the last quarter. State of Wyoming bought a new position in FirstService in the fourth quarter worth $101,000. Fifth Third Bancorp raised its holdings in FirstService by 23.0% in the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after purchasing an additional 144 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in FirstService in the fourth quarter worth $201,000. Institutional investors own 69.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FSV shares. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. TD Securities raised their price target on FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a report on Friday, July 25th. Finally, Scotiabank raised their price target on FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.75.

FirstService Stock Performance

Shares of FirstService stock traded down $0.55 during trading hours on Thursday, reaching $200.62. 61,107 shares of the stock traded hands, compared to its average volume of 102,669. The company has a 50 day moving average price of $187.78 and a 200 day moving average price of $177.71. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 64.30 and a beta of 0.95. FirstService Corporation has a one year low of $153.13 and a one year high of $202.55. 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 posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share 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 analysts' expectations of $1.40 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business's quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts expect 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.