FirstService Corporation $FSV is Norwood Investment Partners LP’s 5th Largest Position

Norwood Investment Partners LP boosted its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 100.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,000 shares of the financial services provider’s stock after acquiring an additional 20,000 shares during the quarter. FirstService makes up approximately 7.0% of Norwood Investment Partners LP’s holdings, making the stock its 5th biggest holding. Norwood Investment Partners LP’s holdings in FirstService were worth $6,221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSV. The Manufacturers Life Insurance Company raised its holdings in FirstService by 493.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider’s stock valued at $432,173,000 after buying an additional 2,307,684 shares during the last quarter. Norges Bank bought a new stake in FirstService during the 4th quarter valued at $85,597,000. Durable Capital Partners LP raised its holdings in FirstService by 12.9% during the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock valued at $422,263,000 after buying an additional 253,155 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in FirstService during the 4th quarter valued at $25,013,000. Finally, Goldman Sachs Group Inc. raised its holdings in FirstService by 79.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after buying an additional 141,152 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Loop Capital assumed coverage on shares of FirstService in a report on Monday, May 4th. They set a “hold” rating and a $140.00 price target for the company. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. TD Securities set a $204.00 price target on shares of FirstService in a report on Friday, April 24th. Finally, TD upped their price target on shares of FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $197.22.

FirstService Stock Down 0.7%

Shares of NASDAQ FSV opened at $142.69 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService Corporation has a 12 month low of $119.41 and a 12 month high of $209.66. The firm has a market capitalization of $6.56 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 4.36 and a beta of 0.95. The firm has a fifty day simple moving average of $139.20 and a two-hundred day simple moving average of $147.91.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business earned $0.92 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts expect that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be paid a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. FirstService’s dividend payout ratio (DPR) is presently 34.46%.

About FirstService

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.