Canada Pension Plan Investment Board grew its position in FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 36.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 201,392 shares of the financial services provider’s stock after acquiring an additional 53,500 shares during the period. Canada Pension Plan Investment Board owned 0.58% of FirstService worth $17,003,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. UBS Group AG grew its position in FirstService by 182.7% in the 1st quarter. UBS Group AG now owns 6,998 shares of the financial services provider’s stock valued at $512,000 after buying an additional 4,523 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in FirstService in the 1st quarter valued at $338,000. Connor Clark & Lunn Investment Management Ltd. grew its position in FirstService by 21.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,099,887 shares of the financial services provider’s stock valued at $83,605,000 after buying an additional 192,780 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its position in shares of FirstService by 49.0% during the 2nd quarter. PCJ Investment Counsel Ltd. now owns 8,820 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Baskin Financial Services Inc. boosted its position in shares of FirstService by 1.5% during the 2nd quarter. Baskin Financial Services Inc. now owns 176,348 shares of the financial services provider’s stock worth $13,415,000 after purchasing an additional 2,653 shares in the last quarter. Institutional investors own 66.74% of the company’s stock.
FirstService stock opened at $75.64 on Monday. FirstService Corp has a 52 week low of $62.90 and a 52 week high of $90.21. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $2.62 billion, a P/E ratio of 37.26 and a beta of 0.76.
FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.01). FirstService had a return on equity of 36.30% and a net margin of 3.71%. The business had revenue of $506.36 million during the quarter, compared to analysts’ expectations of $505.25 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share. FirstService’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts forecast that FirstService Corp will post 1.87 EPS for the current fiscal year.
Several equities research analysts have commented on FSV shares. BMO Capital Markets restated a “hold” rating and set a $83.00 target price on shares of FirstService in a research report on Wednesday, October 24th. BidaskClub lowered shares of FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research upgraded shares of FirstService from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $82.75.
FirstService Corporation provides property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment manages private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.
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