Fiera Capital Corp lifted its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 43.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,176,304 shares of the financial services provider’s stock after buying an additional 357,370 shares during the quarter. Fiera Capital Corp owned approximately 3.27% of FirstService Corporation worth $75,345,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Jacobson & Schmitt Advisors LLC raised its stake in shares of FirstService Corporation by 0.6% during the 2nd quarter. Jacobson & Schmitt Advisors LLC now owns 106,610 shares of the financial services provider’s stock worth $6,821,000 after buying an additional 632 shares during the last quarter. AJO LP acquired a new position in shares of FirstService Corporation during the 2nd quarter worth $8,115,000. Alliancebernstein L.P. raised its stake in shares of FirstService Corporation by 6.5% during the 2nd quarter. Alliancebernstein L.P. now owns 21,270 shares of the financial services provider’s stock worth $1,361,000 after buying an additional 1,300 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of FirstService Corporation by 3.1% during the 2nd quarter. CIBC World Markets Inc. now owns 212,234 shares of the financial services provider’s stock worth $13,579,000 after buying an additional 6,332 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of FirstService Corporation by 1,515.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 78,523 shares of the financial services provider’s stock worth $3,612,000 after buying an additional 73,663 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.
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Shares of FirstService Corporation (NASDAQ FSV) traded down 1.42% during mid-day trading on Tuesday, hitting $68.69. The stock had a trading volume of 5,871 shares. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 54.95 and a beta of 0.90. FirstService Corporation has a one year low of $39.05 and a one year high of $70.60. The company has a 50-day moving average of $65.43 and a 200 day moving average of $62.11.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. The company had revenue of $434.90 million for the quarter, compared to analyst estimates of $421.35 million. FirstService Corporation had a return on equity of 24.64% and a net margin of 2.84%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. On average, equities research analysts forecast that FirstService Corporation will post $1.96 earnings per share for the current year.
FirstService Corporation declared that its Board of Directors has approved a share buyback plan on Thursday, August 17th that authorizes the company to buyback 3,100,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Several research firms have recently issued reports on FSV. Raymond James Financial, Inc. lifted their price target on FirstService Corporation from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of FirstService Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. TheStreet raised shares of FirstService Corporation from a “c” rating to a “b-” rating in a research note on Wednesday, July 26th. Royal Bank Of Canada boosted their target price on shares of FirstService Corporation from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research raised shares of FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $67.00.
FirstService Corporation Company Profile
Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.
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