UBS Group AG Increases Position in FirstService Corporation (FSV)

UBS Group AG raised its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 21.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,427 shares of the financial services provider’s stock after buying an additional 600 shares during the period. UBS Group AG’s holdings in FirstService Corporation were worth $206,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FSV. Legal & General Group Plc boosted its stake in 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 last quarter. 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 period. Parametric Portfolio Associates LLC raised its position in FirstService Corporation by 10.3% in the first quarter. Parametric Portfolio Associates LLC now owns 7,853 shares of the financial services provider’s stock worth $474,000 after buying an additional 733 shares during the period. Alliancebernstein L.P. raised its position in 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, AQR Capital Management LLC raised its position in FirstService Corporation by 6.6% in the fourth quarter. AQR Capital Management LLC now owns 21,264 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 1,312 shares during the last quarter. Hedge funds and other institutional investors own 60.86% of the company’s stock.

Shares of FirstService Corporation (NASDAQ FSV) traded down 0.41% on Friday, reaching $63.39. 5,380 shares of the company’s stock were exchanged. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 50.71 and a beta of 0.91. FirstService Corporation has a one year low of $39.05 and a one year high of $67.41. The company’s 50 day moving average is $64.01 and its 200-day moving average is $60.53.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $421.35 million. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, analysts anticipate that FirstService Corporation will post $1.96 EPS for the current year.

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A number of analysts recently issued reports on FSV shares. BidaskClub downgraded shares of FirstService Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. TheStreet raised shares of FirstService Corporation from a “c” rating to a “b-” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded shares of FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. boosted their price objective on shares of FirstService Corporation from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada boosted their price objective on shares of FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $67.00.

FirstService Corporation Company Profile

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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