Copeland Capital Management LLC Buys 41,333 Shares of FirstService Corporation $FSV

Key Points

• Copeland Capital Management increased its FirstService stake by 11.9%, buying 41,333 shares to hold 389,749 shares valued at approximately $49.8 million. Institutional investors collectively own 69.35% of the company.
• FirstService reported quarterly EPS of $1.75, topping estimates by $0.04, while revenue reached $1.44 billion and rose 2.4% year over year. The company also declared a quarterly dividend of $0.305, representing a 0.9% yield.
• Analyst sentiment remains positive overall, with eight Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $184.20 versus the reported share price of $130.81.

Copeland Capital Management LLC lifted its stake in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 11.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 389,749 shares of the financial services provider's stock after acquiring an additional 41,333 shares during the quarter. Copeland Capital Management LLC owned 0.89% of FirstService worth $49,841,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Conestoga Capital Advisors LLC grew its position in FirstService by 19.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,405,564 shares of the financial services provider's stock worth $195,289,000 after purchasing an additional 233,043 shares during the period. SEB Asset Management AB purchased a new stake in FirstService during the 1st quarter valued at $31,487,000. Janus Henderson Group PLC lifted its holdings in shares of FirstService by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,587,454 shares of the financial services provider's stock valued at $220,560,000 after buying an additional 219,890 shares during the period. Royal Bank of Canada lifted its holdings in shares of FirstService by 15.7% during the 1st quarter. Royal Bank of Canada now owns 573,421 shares of the financial services provider's stock valued at $79,672,000 after buying an additional 77,758 shares during the period. Finally, Montrusco Bolton Investments Inc. lifted its holdings in shares of FirstService by 38.1% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 263,488 shares of the financial services provider's stock valued at $36,538,000 after buying an additional 72,665 shares during the period. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Stock Up 0.9%

FSV opened at $130.81 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. FirstService Corporation has a 1-year low of $119.41 and a 1-year high of $189.05. The company has a market capitalization of $5.71 billion, a PE ratio of 37.06, a PEG ratio of 2.87 and a beta of 0.95. The firm's 50 day simple moving average is $136.56 and its two-hundred day simple moving average is $138.80.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.04. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.71 EPS. As a group, equities analysts forecast that FirstService Corporation will post 5.61 EPS for the current year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th were given a $0.3050 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. FirstService's dividend payout ratio is presently 34.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FSV shares. Wall Street Zen downgraded FirstService from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a "hold (c-)" rating on shares of FirstService in a research report on Wednesday, August 26th. Scotiabank set a $170.00 target price on FirstService in a report on Friday, July 24th. TD Securities reissued a "buy" rating and issued a $195.00 target price on shares of FirstService in a report on Friday, July 24th. Finally, BMO Capital Markets dropped their target price on FirstService from $199.00 to $192.00 and set an "outperform" rating on the stock in a research report on Friday, July 24th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $184.20.

About FirstService

FirstService Corporation is a North American property services company headquartered in Toronto, Canada. The company provides services to residential and commercial properties through two primary business segments: FirstService Residential and FirstService Brands.

FirstService Residential provides property management and related services for condominium, cooperative, homeowners' association and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support and project management.

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