Northern Trust Corp Has $1.34 Million Stake in FirstService Corporation (FSV)

Northern Trust Corp lifted its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 13.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,905 shares of the financial services provider’s stock after purchasing an additional 2,525 shares during the quarter. Northern Trust Corp owned 0.06% of FirstService worth $1,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in FirstService by 1,515.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 78,523 shares of the financial services provider’s stock worth $3,612,000 after acquiring an additional 73,663 shares during the last quarter. Fiera Capital Corp grew its holdings in FirstService by 43.6% during the 2nd quarter. Fiera Capital Corp now owns 1,176,304 shares of the financial services provider’s stock worth $75,345,000 after acquiring an additional 357,370 shares during the last quarter. Royce & Associates LP grew its holdings in FirstService by 0.5% during the 2nd quarter. Royce & Associates LP now owns 230,400 shares of the financial services provider’s stock worth $14,741,000 after acquiring an additional 1,200 shares during the last quarter. Blair William & Co. IL grew its holdings in FirstService by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 19,379 shares of the financial services provider’s stock worth $1,240,000 after acquiring an additional 49 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in FirstService during the 2nd quarter worth about $2,334,000. 61.17% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the stock. Scotiabank lowered shares of FirstService from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 26th. Royal Bank Of Canada downgraded shares of FirstService from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $71.00 to $75.00 in a research report on Thursday, October 26th. Zacks Investment Research upgraded shares of FirstService from a “hold” rating to a “strong-buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, October 31st. BidaskClub upgraded shares of FirstService from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Finally, William Blair downgraded shares of FirstService from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 13th. Six analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. FirstService has an average rating of “Hold” and an average price target of $69.20.

FirstService Corporation (FSV) opened at $68.50 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.51. FirstService Corporation has a 52-week low of $43.74 and a 52-week high of $74.49. The stock has a market cap of $2,436.96, a PE ratio of 54.74 and a beta of 0.80.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.24. The business had revenue of $456.50 million for the quarter, compared to the consensus estimate of $449.26 million. FirstService had a net margin of 2.74% and a return on equity of 24.16%. FirstService’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS. equities research analysts anticipate that FirstService Corporation will post 1.93 earnings per share for the current year.

FirstService announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 17th that permits the company to repurchase 3,100,000 outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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About FirstService

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 (NASDAQ:FSV)

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