FirstService Corporation $FSV Holdings Boosted by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab raised its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 39.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,200 shares of the financial services provider’s stock after acquiring an additional 5,990 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in FirstService were worth $3,014,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FSV. JPL Wealth Management LLC bought a new stake in shares of FirstService in the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew its stake in FirstService by 88.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after buying an additional 81 shares during the last quarter. Kestra Advisory Services LLC bought a new position in FirstService during the 4th quarter worth $34,000. Geneos Wealth Management Inc. increased its position in FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after buying an additional 79 shares during the period. Finally, Strs Ohio acquired a new stake in FirstService in the first quarter worth $38,000. 69.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on FSV. TD Cowen reissued a “buy” rating and set a $204.00 price target on shares of FirstService in a report on Wednesday, June 3rd. Scotiabank set a $170.00 price objective on shares of FirstService in a report on Friday, July 24th. Loop Capital initiated coverage on shares of FirstService in a research report on Monday, May 4th. They issued a “hold” rating and a $140.00 price objective on the stock. BMO Capital Markets reduced their target price 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. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $144.00 target price on shares of FirstService in a research report on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $184.20.

FirstService Stock Performance

Shares of FSV stock opened at $143.91 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 1.63. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $209.66. The stock has a fifty day moving average of $141.47 and a two-hundred day moving average of $144.19. The firm has a market capitalization of $6.32 billion, a PE ratio of 40.77, a price-to-earnings-growth ratio of 3.19 and a beta of 0.93.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.71 earnings per share. As a group, research analysts expect that FirstService Corporation will post 5.61 EPS for the current year.

About FirstService

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.