Quantinno Capital Management LP Raises Stock Holdings in FirstService Corporation $FSV

Quantinno Capital Management LP boosted its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 72.6% in the first quarter, HoldingsChannel.com reports. The fund owned 42,451 shares of the financial services provider’s stock after acquiring an additional 17,851 shares during the quarter. Quantinno Capital Management LP’s holdings in FirstService were worth $5,898,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of FirstService by 0.9% during the fourth quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 77 shares during the period. Evergreen Capital Management LLC lifted its stake in FirstService by 5.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 77 shares during the period. Geneos Wealth Management Inc. lifted its stake in FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 79 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of FirstService by 88.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in shares of FirstService by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 17,021 shares of the financial services provider’s stock valued at $3,242,000 after acquiring an additional 92 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings cut shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $175.00 price target on shares of FirstService in a research report on Friday, July 24th. Loop Capital started coverage on FirstService in a research note on Monday, May 4th. They set a “hold” rating and a $140.00 price objective for the company. Scotiabank set a $170.00 price objective on FirstService in a report on Friday, July 24th. Finally, BMO Capital Markets lowered their target price on FirstService from $199.00 to $192.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $184.20.

FirstService Stock Up 2.3%

FSV stock opened at $144.67 on Thursday. The firm has a market cap of $6.39 billion, a PE ratio of 40.98, a P/E/G ratio of 3.13 and a beta of 0.93. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.66 and a current ratio of 1.63. The firm’s fifty day moving average is $141.19 and its 200 day moving average is $144.46. FirstService Corporation has a one year low of $119.41 and a one year high of $209.66.

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

FirstService 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.