Ajo LP acquired a new position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 126,830 shares of the financial services provider’s stock, valued at approximately $8,115,000. Ajo LP owned 0.35% of FirstService Corporation at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its stake in FirstService Corporation by 6.5% in the 2nd quarter. Alliancebernstein L.P. now owns 21,270 shares of the financial services provider’s stock worth $1,361,000 after purchasing an additional 1,300 shares in the last quarter. CIBC World Markets Inc. lifted its stake in FirstService Corporation by 3.1% in the 2nd quarter. CIBC World Markets Inc. now owns 212,234 shares of the financial services provider’s stock worth $13,579,000 after purchasing an additional 6,332 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in FirstService Corporation by 1,515.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 78,523 shares of the financial services provider’s stock worth $3,612,000 after purchasing an additional 73,663 shares in the last quarter. Renaissance Group LLC lifted its stake in FirstService Corporation by 6.9% in the 2nd quarter. Renaissance Group LLC now owns 7,697 shares of the financial services provider’s stock worth $492,000 after purchasing an additional 498 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in FirstService Corporation by 17.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,202 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 324 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Ajo LP Invests $8.12 Million in FirstService Corporation (FSV) Stock” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/09/15/ajo-lp-invests-8-12-million-in-firstservice-corporation-fsv-stock.html.

Shares of FirstService Corporation (NASDAQ FSV) opened at 66.52 on Friday. FirstService Corporation has a 1-year low of $39.05 and a 1-year high of $70.83. The firm has a 50-day moving average of $67.48 and a 200 day moving average of $61.66. The stock has a market capitalization of $2.39 billion, a PE ratio of 53.22 and a beta of 0.90.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.39 by $0.11. FirstService Corporation had a net margin of 2.84% and a return on equity of 24.64%. The firm had revenue of $434.90 million for the quarter, compared to the consensus estimate of $421.35 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Analysts predict that FirstService Corporation will post $1.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 29th will be paid a dividend of $0.1225 per share. This represents a $0.49 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, September 28th. FirstService Corporation’s payout ratio is 39.20%.

FirstService Corporation announced that its board has initiated a share buyback plan on Thursday, August 17th that allows the company to buyback 3,100,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Several research firms have issued reports on FSV. BidaskClub upgraded shares of FirstService Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. William Blair cut shares of FirstService Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday. TheStreet upgraded shares of FirstService Corporation from a “c” rating to a “b-” rating in a research note on Wednesday, July 26th. Raymond James Financial, Inc. increased their target price on shares of FirstService Corporation from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada increased their target price on shares of FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $67.00.

FirstService Corporation Profile

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 Corporation (NASDAQ:FSV)

Receive News & Ratings for FirstService Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstService Corporation and related companies with MarketBeat.com's FREE daily email newsletter.