BB&T Securities LLC Has $843,000 Position in FirstService Corporation (FSV)
BB&T Securities LLC cut its stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 56.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,183 shares of the financial services provider’s stock after selling 17,373 shares during the period. BB&T Securities LLC’s holdings in FirstService Corporation were worth $843,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc raised 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 in the last quarter. UBS Group AG raised its stake in FirstService Corporation by 21.2% in the first quarter. UBS Group AG now owns 3,427 shares of the financial services provider’s stock worth $206,000 after buying an additional 600 shares in the last quarter. Wetherby Asset Management Inc. acquired a new stake in FirstService Corporation during the second quarter worth approximately $209,000. JPMorgan Chase & Co. raised its stake 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 in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in FirstService Corporation during the first quarter worth approximately $282,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FirstService Corporation (FSV) opened at 66.95 on Wednesday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 53.56 and a beta of 0.91. The company has a 50-day moving average price of $64.21 and a 200-day moving average price of $61.18. FirstService Corporation has a 12 month low of $39.05 and a 12 month high of $67.41.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.11. The business had revenue of $434.90 million for the quarter, compared to analysts’ expectations of $421.35 million. FirstService Corporation had a return on equity of 24.64% and a net margin of 2.84%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. Analysts forecast that FirstService Corporation will post $1.96 earnings per share for the current fiscal year.
FirstService Corporation announced that its Board of Directors has approved a share repurchase program on Thursday, August 17th that authorizes the company to repurchase 3,100,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
FSV has been the topic of a number of research analyst reports. TheStreet raised FirstService Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, July 26th. BidaskClub raised FirstService Corporation from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research lowered FirstService Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Raymond James Financial, Inc. raised their price target on FirstService Corporation from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada raised their price target on FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock 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.
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