FirstService Co. (NASDAQ:FSV) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 20.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 634 shares of the financial services provider’s stock after purchasing an additional 108 shares during the quarter. Fifth Third Bancorp’s holdings in FirstService were worth $97,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FSV. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of FirstService during the fourth quarter worth approximately $39,000. Spire Wealth Management purchased a new stake in shares of FirstService during the fourth quarter worth approximately $40,000. Accent Capital Management LLC purchased a new stake in shares of FirstService during the fourth quarter worth approximately $40,000. Blue Trust Inc. increased its stake in shares of FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after buying an additional 242 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of FirstService by 25.9% during the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of FirstService stock opened at $175.72 on Monday. The firm has a market capitalization of $7.90 billion, a P/E ratio of 86.99 and a beta of 1.05. FirstService Co. has a 52 week low of $134.77 and a 52 week high of $177.46. The company has a quick ratio of 2.00, a current ratio of 1.78 and a debt-to-equity ratio of 1.23. The firm’s 50 day moving average is $163.58 and its two-hundred day moving average is $159.26.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. Research analysts forecast that FirstService Co. will post 4.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FSV. TD Securities upped their target price on shares of FirstService from $174.00 to $178.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Scotiabank upped their target price on shares of FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. BMO Capital Markets upped their target price on shares of FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, Royal Bank of Canada increased their price target on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.33.

FirstService Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.