Public Employees Retirement System of Ohio Reduces Stock Holdings in FirstService Corporation $FSV

Public Employees Retirement System of Ohio cut its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 72.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,595 shares of the financial services provider’s stock after selling 6,779 shares during the period. Public Employees Retirement System of Ohio’s holdings in FirstService were worth $360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new stake in FirstService in the third quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of FirstService by 88.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of FirstService during the fourth quarter worth $34,000. Finally, Strs Ohio acquired a new position in shares of FirstService during the first quarter worth $38,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Wall Street Analyst Weigh In

FSV has been the subject of a number of recent analyst reports. TD Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of FirstService in a report on Friday, July 24th. TD Cowen reiterated a “buy” rating and issued a $204.00 price objective on shares of FirstService in a report on Wednesday, June 3rd. TD upped their price objective on shares of FirstService from $204.00 to $207.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set 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 given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.20.

FirstService Price Performance

Shares of FSV opened at $144.67 on Thursday. FirstService Corporation has a 52 week low of $119.41 and a 52 week high of $209.66. The company has a current ratio of 1.63, a quick ratio of 1.66 and a debt-to-equity ratio of 1.03. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 40.98, a PEG ratio of 3.13 and a beta of 0.93. The stock has a 50 day moving average of $141.19 and a 200-day moving average of $144.46.

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

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.