Ewing Morris & Co. Investment Partners Ltd. Has $2.84 Million Stake in FirstService Corporation $FSV

Ewing Morris & Co. Investment Partners Ltd. grew its holdings in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 35.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,967 shares of the financial services provider’s stock after acquiring an additional 5,267 shares during the quarter. FirstService accounts for 1.5% of Ewing Morris & Co. Investment Partners Ltd.’s portfolio, making the stock its 22nd largest holding. Ewing Morris & Co. Investment Partners Ltd.’s holdings in FirstService were worth $2,843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its holdings in shares of FirstService by 52.2% during the 1st quarter. Bessemer Group Inc. now owns 191,970 shares of the financial services provider’s stock worth $26,672,000 after purchasing an additional 65,830 shares during the period. UBS Group AG grew its position in FirstService by 40.5% during the fourth quarter. UBS Group AG now owns 174,467 shares of the financial services provider’s stock worth $27,135,000 after buying an additional 50,263 shares in the last quarter. Bank of America Corp DE grew its position in FirstService by 8.2% during the first quarter. Bank of America Corp DE now owns 240,316 shares of the financial services provider’s stock worth $33,390,000 after buying an additional 18,146 shares in the last quarter. Vanguard Group Inc. increased its stake in FirstService by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock valued at $304,000,000 after acquiring an additional 29,805 shares during the period. Finally, Sei Investments Co. raised its holdings in FirstService by 59.2% in the 1st quarter. Sei Investments Co. now owns 63,388 shares of the financial services provider’s stock valued at $8,806,000 after acquiring an additional 23,577 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Trading Down 1.0%

Shares of NASDAQ FSV opened at $138.10 on Thursday. The company has a 50-day moving average of $142.64 and a two-hundred day moving average of $142.08. FirstService Corporation has a 1-year low of $119.41 and a 1-year high of $209.66. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. The company has a market cap of $6.03 billion, a PE ratio of 39.12, a P/E/G ratio of 3.09 and a beta of 0.93.

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Scotiabank set a $170.00 target price on FirstService in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $144.00 target price on shares of FirstService in a research report on Friday, July 24th. TD Securities reiterated a “buy” rating and set a $195.00 price target on shares of FirstService in a research note on Friday, July 24th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $175.00 price target on shares of FirstService in a report on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.20.

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.