Swiss National Bank Has $19.18 Million Holdings in FirstService Corporation (NASDAQ:FSV)

Key Points

• Swiss National Bank reduced its stake in FirstService Corporation by 1.7%, holding 115,600 shares valued at approximately $19.18 million, as reported in their recent SEC filing.
• FirstService reported a quarterly EPS of $1.71, exceeding analysts' expectations, with revenue reaching $1.42 billion, a 9.1% increase year-over-year.
• Analysts have raised FirstService's price targets, with a consensus rating of "Moderate Buy" and an average price target now set at $217.75.

Swiss National Bank lessened its position in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,600 shares of the financial services provider's stock after selling 2,000 shares during the period. Swiss National Bank owned approximately 0.25% of FirstService worth $19,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 worth $301,051,000 after acquiring an additional 20,872 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in FirstService by 53.9% in 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 during the last quarter. Copeland Capital Management LLC lifted its stake in FirstService by 7.2% in 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 during the last quarter. Geneva Capital Management LLC lifted its stake in FirstService by 52.3% in 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 during the last quarter. Finally, TD Asset Management Inc lifted its stake in FirstService by 61.6% in the 1st quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider's stock valued at $55,637,000 after purchasing an additional 127,846 shares during the last quarter. Institutional investors own 69.35% of the company's stock.

FirstService Trading Down 0.7%

Shares of FSV stock traded down $1.43 during trading hours on Friday, hitting $198.22. 70,534 shares of the company's stock traded hands, compared to its average volume of 175,298. The stock's 50 day simple moving average is $183.83 and its 200 day simple moving average is $176.34. The stock has a market cap of $9.03 billion, a PE ratio of 63.53 and a beta of 0.95. FirstService Corporation has a 12 month low of $153.13 and a 12 month high of $201.10. 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, topping the consensus estimate of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the prior year, the company posted $1.36 earnings per share. FirstService's revenue for the quarter was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that FirstService Corporation will post 5.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FSV. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Scotiabank increased their price objective on shares of 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 target on shares of 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 hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.

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.