Quantbot Technologies LP Boosts Stake in FirstService Corporation $FSV

Key Points

• Quantbot Technologies LP increased its stake in FirstService Corporation by 70.3% during the first quarter, owning 14,422 shares valued at approximately $2.39 million.
• Several institutional investors have also significantly raised their positions in FirstService, with TCTC Holdings LLC increasing its stake by 155.2% and Natixis by 5,511.1% in the past quarters.
• Analysts have adjusted their ratings and price targets for FirstService, with TD Securities and Scotiabank increasing their price objectives to $211.00 and $220.00, respectively, while maintaining a consensus rating of "Moderate Buy."

Quantbot Technologies LP grew its stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 70.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,422 shares of the financial services provider's stock after buying an additional 5,951 shares during the period. Quantbot Technologies LP's holdings in FirstService were worth $2,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FSV. TCTC Holdings LLC increased its stake in shares of 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 acquiring an additional 104 shares during the period. Natixis increased its stake in shares of FirstService by 5,511.1% in the fourth quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after acquiring an additional 496 shares during the period. Spire Wealth Management increased its stake in shares of 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 acquiring an additional 186 shares during the period. State of Wyoming acquired a new stake in shares of FirstService in the fourth quarter worth $101,000. Finally, Fifth Third Bancorp increased its stake in shares of 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 acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 69.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FSV shares. TD Securities increased their price objective on shares of FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Scotiabank increased their price objective on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, FirstService presently has a consensus rating of "Moderate Buy" and an average price target of $217.75.

FirstService Stock Down 0.5%

FSV stock opened at $199.32 on Thursday. The firm has a market cap of $9.08 billion, a PE ratio of 63.88 and a beta of 0.95. 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 firm's fifty day moving average is $185.08 and its 200 day moving average is $176.72. FirstService Corporation has a one year low of $153.13 and a one year high of $201.67.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.45 by $0.26. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The firm's revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $1.36 earnings per share. On average, research 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.

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