TD Waterhouse Canada Inc. Raises Position in FirstService Corporation $FSV

TD Waterhouse Canada Inc. raised its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 13.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,437 shares of the financial services provider’s stock after buying an additional 8,084 shares during the period. TD Waterhouse Canada Inc.’s holdings in FirstService were worth $9,519,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Truist Financial Corp lifted its position in shares of FirstService by 0.9% in the fourth quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock valued at $1,383,000 after acquiring an additional 77 shares in the last quarter. Evergreen Capital Management LLC raised its stake in FirstService by 5.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 77 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in FirstService by 63.7% in the 2nd 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 last quarter. Hilltop National Bank lifted its holdings in FirstService by 4.1% in the 2nd quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 81 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in FirstService by 88.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Up 0.8%

Shares of FSV opened at $144.11 on Friday. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $209.66. The company has a market capitalization of $6.29 billion, a PE ratio of 40.82, a price-to-earnings-growth ratio of 3.19 and a beta of 0.93. The stock has a fifty day simple moving average of $142.84 and a two-hundred day simple moving average of $142.01. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.03.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 EPS. As a group, equities analysts forecast that FirstService Corporation will post 5.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD upped their target price on shares of FirstService from $204.00 to $207.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $175.00 price target on shares of FirstService in a research report on Friday, July 24th. TD Cowen reaffirmed a “buy” rating and set a $204.00 price objective on shares of FirstService in a research note on Wednesday, June 3rd. Scotiabank set a $170.00 price objective on shares of FirstService in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $144.00 target price on shares of FirstService in a research note on Friday, July 24th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.20.

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.