FirstService Corporation (FSV) Shares Bought by Blair William & Co. IL
Blair William & Co. IL boosted its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 0.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,379 shares of the financial services provider’s stock after buying an additional 49 shares during the period. Blair William & Co. IL owned approximately 0.05% of FirstService Corporation worth $1,240,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of FirstService Corporation by 37.7% in the first quarter. Legal & General Group Plc now owns 3,289 shares of the financial services provider’s stock worth $198,000 after buying an additional 900 shares during the period. UBS Group AG raised its position in FirstService Corporation by 21.2% in the first quarter. UBS Group AG now owns 3,427 shares of the financial services provider’s stock worth $206,000 after buying an additional 600 shares during the last quarter. Wetherby Asset Management Inc. bought a new position in FirstService Corporation during the second quarter worth $209,000. JPMorgan Chase & Co. raised its position in FirstService Corporation by 4.2% in the first quarter. JPMorgan Chase & Co. now owns 4,860 shares of the financial services provider’s stock worth $224,000 after buying an additional 195 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in FirstService Corporation during the first quarter worth $282,000. 58.96% of the stock is currently owned by institutional investors.
Shares of FirstService Corporation (FSV) opened at 66.56 on Tuesday. FirstService Corporation has a one year low of $39.05 and a one year high of $67.41. The stock has a 50 day moving average of $64.21 and a 200-day moving average of $61.18. The stock has a market capitalization of $2.39 billion, a PE ratio of 53.25 and a beta of 0.91.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. The firm had revenue of $434.90 million for the quarter, compared to analyst estimates of $421.35 million. FirstService Corporation had a net margin of 2.84% and a return on equity of 24.64%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. Equities analysts predict that FirstService Corporation will post $1.96 earnings per share for the current fiscal year.
FirstService Corporation announced that its Board of Directors has approved a stock repurchase program on Thursday, August 17th that authorizes the company to buyback 3,100,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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A number of equities research analysts have recently commented on the company. Raymond James Financial, Inc. raised their target price on FirstService Corporation from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 27th. BidaskClub cut FirstService Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. TheStreet upgraded FirstService Corporation from a “c” rating to a “b-” rating in a report on Wednesday, July 26th. Royal Bank Of Canada boosted their target price on FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research upgraded FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. FirstService Corporation has an average rating of “Buy” and an average price target 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.
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