FSV FirstService Corp

NEUTRAL Impact: 4/10 6-K
Horizon weeks Filed Jun 2, 2026 Processed 12d 16h ago SEC 0001171843-26-003874
Notable filing: 6-K
Latest settled — T+1d
FSV ▼ -0.71% at T+1d
NEUTRAL call ✗ call lost -0.71% · α vs SPY -0.02% · entry $138.25 → $137.27
Next anchor: T+5d due 6d ago
Last close $143.36 (close Jun 12) · +3.70% from $138.25 entry
Entry anchored
Jun 2, 11:59 AM ET
via Databento tick
T+1d
-0.71%
call -0.71% · α -0.02%
$137.27
settled 12d ago
T+5d
call — · α —
due 6d ago
T+20d
call — · α —
in 16d
T+60d
call — · α —
in 2mo

Price Chart

Loading chart...

Executive Summary

FirstService received TSX approval to amend its existing NCIB, increasing the maximum share repurchase from 1.6M shares (3.9% of float) to 4.12M shares (10% of float, the TSX max). The company also entered into an automatic share purchase plan (ASPP) to enable buybacks during blackout periods. Through May 31, 2026, 931,182 shares had already been repurchased for US$123.3M at an average of $132.38/share. The buyback signals management's view that shares are undervalued and provides a floor, but does not alter underlying fundamentals or growth trajectory.

Actionable Insight

The expanded buyback authorization signals management's confidence in intrinsic value and provides downside support, but is not a catalyst for upward re-rating. Monitor actual repurchase pace in coming quarters as a gauge of capital allocation discipline. The ASPP ensures continuity during blackout periods, which may increase buyback consistency.

Key Facts

  • NCIB maximum shares increased from 1,600,000 (3.9% of float) to 4,118,199 (10% of float), the maximum TSX allows
  • As of May 31, 2026, FirstService had repurchased 931,182 shares for US$123.3M at an average price of $132.38
  • An automatic share purchase plan (ASPP) was entered into to allow repurchases during regulatory/blackout periods, effective June 4, 2026
  • The NCIB runs from August 26, 2025 to no later than August 25, 2026; all repurchased shares will be cancelled
  • Daily purchase limits unchanged: 23,872 on TSX (except block purchases) and 25% of 4-week avg daily volume on NASDAQ

Financial Impact

Up to ~$545M additional deployable capital for buybacks at current prices (~$132.38 avg), but actual execution depends on market conditions and management discretion

share countepscapital allocation

Risk Factors

  • Buyback is discretionary; actual execution may fall well short of the maximum authorized
  • Share repurchases consume cash that could otherwise fund M&A or organic investment
  • The company repurchased aggressively at $132.38 in a $6.2B market cap; if fundamentals weaken, bought-in shares could destroy value

Market Snapshot

Exchange
Nasdaq
Sector
Real Estate
Analyst Consensus
92% bullish (12 analysts)

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

DocumentAccession Number
6-K Filing (Primary)0001171843-26-003874
Document: f6k_060226.htm0001171843-26-003874
Document: 0001171843-26-003874-index-headers.html0001171843-26-003874
Document: 0001171843-26-003874-index.html0001171843-26-003874
Document: 0001171843-26-003874.txt0001171843-26-003874
12 reports for FSV
Performance horizon

Track record builds as more directional reports settle.

Filters
Rows
Reports for FSV — sortable, filterable
Type Now
Jun 11, 2026
3d ago
Institutional Cluster
MIXED ★ 4/10
$139.51 awaiting T+1awaiting T+1$143.36 (+2.76%)
Jun 10, 2026
4d ago
Press Release
NEUTRAL ★ 3/10
$143.04 awaiting T+1awaiting T+1$143.36 (+0.22%)
Jun 2, 2026
12d ago
6-K
NEUTRAL ★ 4/10
$138.25 $137.27▼ −0.71%▼ −0.02%$143.36 (+3.70%)
May 28, 2026
17d ago
Press Release
NEUTRAL ★ 4/10
$138.72 $134.20▼ −3.26%▼ −3.50%$143.36 (+3.34%)
May 6, 2026
5w ago
6-K
NEUTRAL ★ 1/10
$132.53 $134.46▲ +1.46%▲ +1.79%$143.36 (+8.17%)
Apr 23, 2026
7w ago
6-K
BULLISH ★ 7/10
$149.16 $146.38▼ −1.86%▼ −2.65%$143.36 (−3.89%)
Apr 23, 2026
7w ago
Press Release
MIXED ★ 6/10
$149.16 $146.38▼ −1.86%▼ −2.65%$143.36 (−3.89%)
Apr 14, 2026
8w ago
Press Release
NEUTRAL ★ 5/10
$149.15 $149.25▲ +0.07%▼ −0.71%$143.36 (−3.88%)
Apr 13, 2026
8w ago
6-K
NEUTRAL ★ 3/10
$149.15 $149.25▲ +0.07%▼ −0.71%$143.36 (−3.88%)
Apr 1, 2026
10w ago
6-K
NEUTRAL ★ 3/10
$139.72 $141.35▲ +1.17%▲ +0.69%$143.36 (+2.61%)
Showing 10 of 12

US Market Status

Market Closed — Opens in 5h 11m

Subscribe to SecBot

Get Real-Time SEC Filing Intelligence

Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.

Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access