FirstService Corporation $FSV Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 72.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,595 shares of the financial services provider’s stock after selling 6,779 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in FirstService were worth $360,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in shares of FirstService in the third quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd increased its position in FirstService by 88.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. Geneos Wealth Management Inc. increased its position in FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in FirstService during the fourth quarter worth approximately $34,000. Finally, Strs Ohio purchased a new position in FirstService during the first quarter worth approximately $38,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Price Performance

FSV opened at $144.67 on Thursday. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $209.66. The company has a 50 day moving average of $141.19 and a two-hundred day moving average of $144.46. The company has a market cap of $6.39 billion, a P/E ratio of 40.98, a P/E/G ratio of 3.13 and a beta of 0.93. The company has a quick ratio of 1.66, a current ratio of 1.63 and a debt-to-equity ratio of 1.03.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.71 EPS. On average, analysts expect that FirstService Corporation will post 5.61 earnings per share for the current year.

Analysts Set New Price Targets

FSV has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of FirstService from $199.00 to $192.00 and set an “outperform” rating for the company in a research note on Friday, July 24th. TD Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of FirstService in a research report on Friday, July 24th. Weiss Ratings cut FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. TD Cowen reissued a “buy” rating and set a $204.00 price target on shares of FirstService in a research report on Wednesday, June 3rd. Finally, Loop Capital assumed coverage on FirstService in a research note on Monday, May 4th. They set a “hold” rating and a $140.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.20.

FirstService Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.