FirstService Corporation $FSV Shares Bought by Quantbot Technologies LP

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 lifted its stake in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 70.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,422 shares of the financial services provider's stock after buying an additional 5,951 shares during the quarter. Quantbot Technologies LP's holdings in FirstService were worth $2,393,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of FirstService by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider's stock valued at $301,051,000 after buying an additional 20,872 shares during the period. Price T Rowe Associates Inc. MD grew its stake in FirstService by 53.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock valued at $118,767,000 after purchasing an additional 229,889 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in FirstService by 27.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider's stock valued at $88,459,000 after purchasing an additional 115,898 shares in the last quarter. Copeland Capital Management LLC grew its stake in FirstService by 7.2% during the 1st quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider's stock valued at $63,534,000 after purchasing an additional 25,829 shares in the last quarter. Finally, Geneva Capital Management LLC grew its stake in FirstService by 52.3% during the 1st quarter. Geneva Capital Management LLC now owns 362,293 shares of the financial services provider's stock valued at $60,123,000 after purchasing an additional 124,385 shares in the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

FirstService Stock Performance

Shares of FSV traded up $2.02 during mid-day trading on Tuesday, hitting $202.27. The stock had a trading volume of 16,695 shares, compared to its average volume of 137,538. The company has a market cap of $9.21 billion, a PE ratio of 64.80 and a beta of 0.95. The company's fifty day simple moving average is $186.37 and its two-hundred day simple moving average is $177.21. 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 fifty-two week low of $153.13 and a fifty-two week high of $202.56.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.45 by $0.26. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The business's revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. On average, equities analysts expect that FirstService Corporation will post 5.27 earnings per share for the current 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.