Quantinno Capital Management LP Acquires 17,851 Shares of FirstService Corporation $FSV

Quantinno Capital Management LP raised its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 72.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,451 shares of the financial services provider’s stock after purchasing an additional 17,851 shares during the period. Quantinno Capital Management LP owned 0.09% of FirstService worth $5,898,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sustainable Insight Capital Management LLC lifted its position in FirstService by 60.7% during the first quarter. Sustainable Insight Capital Management LLC now owns 6,538 shares of the financial services provider’s stock valued at $910,000 after purchasing an additional 2,469 shares during the last quarter. Sei Investments Co. grew its stake in shares of FirstService by 59.2% during the first quarter. Sei Investments Co. now owns 63,388 shares of the financial services provider’s stock valued at $8,806,000 after buying an additional 23,577 shares during the last quarter. State of Wyoming bought a new position in FirstService in the 1st quarter valued at $247,000. Cetera Investment Advisers grew its holdings in shares of FirstService by 39.7% in the first quarter. Cetera Investment Advisers now owns 11,558 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 3,282 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of FirstService by 357.2% during the first quarter. First Trust Advisors LP now owns 6,963 shares of the financial services provider’s stock worth $967,000 after acquiring an additional 5,440 shares during the period. 69.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FSV shares. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings downgraded FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. TD upped their price objective on shares of FirstService from $204.00 to $207.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $175.00 target price on shares of FirstService in a research report on Friday, July 24th. Finally, TD Securities restated a “buy” rating and issued a $195.00 price target on shares of FirstService in a report on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.20.

FirstService Price Performance

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

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.04. The firm 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 company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.71 earnings per share. As a group, equities analysts expect that FirstService Corporation will post 5.61 EPS for the current fiscal year.

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.