Dimensional Fund Advisors LP increased its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 26.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,635 shares of the financial services provider’s stock after buying an additional 16,485 shares during the period. Dimensional Fund Advisors LP owned 0.22% of FirstService Corporation worth $4,802,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of FSV. FMR LLC increased its position in shares of FirstService Corporation by 54.8% in the first quarter. FMR LLC now owns 46,079 shares of the financial services provider’s stock worth $2,786,000 after buying an additional 16,313 shares during the last quarter. BB&T Securities LLC increased its position in shares of FirstService Corporation by 166.6% in the first quarter. BB&T Securities LLC now owns 30,556 shares of the financial services provider’s stock worth $1,842,000 after buying an additional 19,096 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of FirstService Corporation by 141.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 70,119 shares of the financial services provider’s stock worth $4,228,000 after buying an additional 41,068 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of FirstService Corporation by 7.4% in the first quarter. Alliancebernstein L.P. now owns 19,970 shares of the financial services provider’s stock worth $1,204,000 after buying an additional 1,380 shares during the last quarter. Finally, RK Capital Management LLC bought a new position in shares of FirstService Corporation during the first quarter worth $7,248,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of FirstService Corporation (FSV) traded up 0.54% on Monday, reaching $66.96. The company’s stock had a trading volume of 5,044 shares. The company’s 50 day moving average is $64.21 and its 200-day moving average is $61.18. FirstService Corporation has a 1-year low of $39.05 and a 1-year high of $67.41. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 53.57 and a beta of 0.91.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. FirstService Corporation had a return on equity of 24.64% and a net margin of 2.84%. The business had revenue of $434.90 million for the quarter, compared to the consensus estimate of $421.35 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. FirstService Corporation’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts expect that FirstService Corporation will post $1.96 EPS for the current year.

FirstService Corporation declared that its board has approved a stock repurchase plan on Thursday, August 17th that permits the company to repurchase 3,100,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

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A number of research analysts recently weighed in on the company. BidaskClub raised FirstService Corporation from a “hold” rating to a “buy” rating in a research note on Saturday. TheStreet raised FirstService Corporation from a “c” rating to a “b-” rating in a research note on Wednesday, July 26th. Raymond James Financial, Inc. raised their price objective on FirstService Corporation from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Royal Bank Of Canada raised their price objective on 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 FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. FirstService Corporation presently has a consensus rating of “Buy” and a consensus target price of $67.00.

About FirstService Corporation

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.

Institutional Ownership by Quarter for FirstService Corporation (NASDAQ:FSV)

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