Norwood Investment Partners LP Boosts Stake in FirstService Corporation $FSV

Norwood Investment Partners LP increased its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 100.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the financial services provider’s stock after acquiring an additional 20,000 shares during the period. FirstService makes up about 7.0% of Norwood Investment Partners LP’s holdings, making the stock its 5th biggest position. Norwood Investment Partners LP owned 0.09% of FirstService worth $6,221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSV. JPL Wealth Management LLC purchased a new position in FirstService in the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew its stake in FirstService by 88.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after buying an additional 81 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in FirstService in the 4th quarter worth approximately $34,000. Geneos Wealth Management Inc. grew its stake in FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after buying an additional 79 shares in the last quarter. Finally, Strs Ohio purchased a new position in FirstService in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

FSV has been the subject of a number of research reports. Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. TD boosted their price target on shares of FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Stifel Nicolaus cut their price target on shares of FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Weiss Ratings cut shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, Scotiabank cut their price target on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a research note on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.22.

FirstService Price Performance

Shares of FirstService stock opened at $142.69 on Wednesday. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $209.66. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 40.31, a price-to-earnings-growth ratio of 4.36 and a beta of 0.95. The company has a fifty day moving average of $139.20 and a 200-day moving average of $147.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66.

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

FirstService Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.9%. FirstService’s dividend payout ratio is 34.46%.

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.