CIBC Asset Management Inc Acquires 11,292 Shares of FirstService Corp (FSV)

CIBC Asset Management Inc raised its holdings in FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 633,611 shares of the financial services provider’s stock after purchasing an additional 11,292 shares during the quarter. CIBC Asset Management Inc owned 1.83% of FirstService worth $56,445,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Neuberger Berman Group LLC boosted its holdings in FirstService by 6.9% in the third quarter. Neuberger Berman Group LLC now owns 1,075,770 shares of the financial services provider’s stock valued at $91,075,000 after purchasing an additional 69,251 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of FirstService by 5.2% during the 3rd quarter. Vanguard Group Inc now owns 849,073 shares of the financial services provider’s stock worth $71,883,000 after acquiring an additional 42,007 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of FirstService by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 849,073 shares of the financial services provider’s stock worth $71,883,000 after acquiring an additional 42,007 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of FirstService by 3.2% during the 1st quarter. Bank of Montreal Can now owns 782,821 shares of the financial services provider’s stock worth $69,937,000 after acquiring an additional 24,514 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of FirstService by 1.3% during the 1st quarter. Conestoga Capital Advisors LLC now owns 497,798 shares of the financial services provider’s stock worth $44,473,000 after acquiring an additional 6,301 shares in the last quarter. 70.77% of the stock is currently owned by institutional investors.

FSV opened at $86.04 on Tuesday. FirstService Corp has a twelve month low of $64.87 and a twelve month high of $90.21. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.42 and a quick ratio of 1.45. The stock has a market cap of $3.11 billion, a P/E ratio of 47.80 and a beta of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). FirstService had a return on equity of 23.44% and a net margin of 3.12%. The company had revenue of $485.70 million for the quarter, compared to analyst estimates of $468.98 million. During the same quarter last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that FirstService Corp will post 1.88 earnings per share for the current fiscal year.

FSV has been the topic of several recent analyst reports. Zacks Investment Research raised shares of FirstService from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research note on Tuesday, February 12th. Raymond James reissued a “market perform” rating and set a $84.00 target price on shares of FirstService in a research note on Friday, February 8th. BidaskClub lowered shares of FirstService from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 20th. Royal Bank of Canada increased their target price on shares of FirstService from $88.00 to $92.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 7th. Finally, William Blair reissued a “market perform” rating on shares of FirstService in a research note on Wednesday, February 6th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $89.25.

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About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management 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.

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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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