Raymond James Financial Inc. Has $31.43 Million Position in FirstService Corporation $FSV

Key Points

• Raymond James Financial Inc. reduced its holdings in FirstService Corporation by 29.4%, now owning approximately $31.43 million worth of shares.
• Analysts have set a consensus target price of $217.75 for FirstService, with a mix of ratings indicating a "Moderate Buy" sentiment.
• FirstService reported a 9.1% year-over-year increase in revenue, with Q2 earnings exceeding estimates at $1.71 EPS compared to the consensus of $1.45 EPS.

Raymond James Financial Inc. lowered its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 29.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 189,387 shares of the financial services provider's stock after selling 78,763 shares during the quarter. Raymond James Financial Inc. owned about 0.42% of FirstService worth $31,429,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TCTC Holdings LLC boosted its stake 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 boosted its stake 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. Natixis boosted its stake in 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 purchasing an additional 496 shares in the last quarter. State of Wyoming acquired a new position in FirstService in the fourth quarter worth $101,000. Finally, Fifth Third Bancorp boosted its stake 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. Institutional investors and hedge funds own 69.35% of the company's stock.

Analysts Set New Price Targets

FSV has been the subject of a number of recent research reports. Scotiabank boosted their target price on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. TD Securities boosted their target price on FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. 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, FirstService has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.

FirstService Trading Up 1.2%

NASDAQ FSV opened at $199.79 on Friday. The stock has a 50-day simple moving average of $185.92 and a 200 day simple moving average of $176.98. The company has a market capitalization of $9.10 billion, a PE ratio of 64.04 and a beta of 0.95. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. FirstService Corporation has a 12 month low of $153.13 and a 12 month high of $201.67.

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

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