Grandeur Peak Global Advisors LLC Acquires New Stake in FirstService Corporation $FSV

Grandeur Peak Global Advisors LLC bought a new stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,700 shares of the financial services provider’s stock, valued at approximately $668,000.

A number of other large investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of FirstService by 79.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after purchasing an additional 141,152 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of FirstService by 40.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider’s stock worth $9,856,000 after purchasing an additional 17,072 shares during the period. Strs Ohio purchased a new position in shares of FirstService in the first quarter worth approximately $38,000. Cetera Investment Advisers grew its position in FirstService by 55.3% during the second quarter. Cetera Investment Advisers now owns 2,599 shares of the financial services provider’s stock valued at $454,000 after buying an additional 925 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in FirstService by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after buying an additional 292 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

Shares of FSV stock opened at $141.54 on Monday. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $209.66. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $6.18 billion, a PE ratio of 40.10, a PEG ratio of 3.13 and a beta of 0.93. The stock has a fifty day simple moving average of $142.27 and a two-hundred day simple moving average of $142.45.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly 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 analysts’ expectations of $1.44 billion. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.71 earnings per share. On average, analysts predict that FirstService Corporation will post 5.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $144.00 price target on shares of FirstService in a research report on Friday, July 24th. Wall Street Zen lowered FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. TD raised their target price on FirstService from $204.00 to $207.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. TD Cowen reiterated a “buy” rating and set a $204.00 target price on shares of FirstService in a research report on Wednesday, June 3rd. Finally, Loop Capital initiated coverage on FirstService in a report on Monday, May 4th. They set a “hold” rating and a $140.00 price target for the company. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.20.

FirstService Company 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.