TD Asset Management Inc. Sells 7,468 Shares of FirstService Corp (FSV)

TD Asset Management Inc. cut its holdings in shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 3.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 197,408 shares of the financial services provider’s stock after selling 7,468 shares during the quarter. TD Asset Management Inc. owned 0.55% of FirstService worth $15,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fred Alger Management Inc. raised its position in FirstService by 7.2% in the second quarter. Fred Alger Management Inc. now owns 1,020,557 shares of the financial services provider’s stock worth $77,603,000 after acquiring an additional 68,846 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in FirstService in the second quarter worth $540,000. Allianz Asset Management GmbH purchased a new position in FirstService in the first quarter worth $338,000. CIBC World Markets Inc. raised its position in FirstService by 1,201.3% in the first quarter. CIBC World Markets Inc. now owns 227,676 shares of the financial services provider’s stock worth $16,661,000 after acquiring an additional 210,180 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in FirstService by 31.5% in the first quarter. The Manufacturers Life Insurance Company now owns 295,525 shares of the financial services provider’s stock worth $21,626,000 after acquiring an additional 70,839 shares in the last quarter. 64.21% of the stock is owned by institutional investors.

Shares of NASDAQ FSV traded down $0.57 during midday trading on Friday, hitting $85.86. The stock had a trading volume of 23,500 shares, compared to its average volume of 29,545. The firm has a market capitalization of $3.03 billion, a P/E ratio of 42.16 and a beta of 0.51. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.43 and a quick ratio of 1.43. FirstService Corp has a 1-year low of $62.90 and a 1-year high of $90.21.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, July 25th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. The business had revenue of $495.30 million for the quarter, compared to the consensus estimate of $478.97 million. FirstService had a return on equity of 32.88% and a net margin of 3.24%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. equities research analysts expect that FirstService Corp will post 1.9 EPS for the current fiscal year.

Several research firms have issued reports on FSV. Zacks Investment Research upgraded FirstService from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 27th. BidaskClub upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, June 23rd. Raymond James raised their price target on FirstService from $72.00 to $83.00 and gave the company a “market weight” rating in a research report on Friday, July 27th. Royal Bank of Canada lifted their price objective on FirstService from $80.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 26th. Finally, ValuEngine raised FirstService from a “hold” rating to a “buy” rating in a research note on Wednesday, July 25th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. FirstService has an average rating of “Hold” and a consensus price target of $82.67.

FirstService Company Profile

FirstService Corporation provides 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 manages 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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