Copeland Capital Management LLC Has $51.21 Million Stock Holdings in FirstService Corporation $FSV

Key Points

• Copeland Capital Management increased its FirstService stake by 6.5% in the first quarter, ending with 368,543 shares valued at about $51.2 million.
• FirstService reported better-than-expected quarterly results, posting EPS of $0.95 versus $0.89 expected and revenue of $1.30 billion, with revenue up 5.3% year over year.
• The company also paid a quarterly dividend of $0.305 per share and currently has a consensus analyst rating of Moderate Buy with an average price target of $195.89.

Copeland Capital Management LLC grew its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 368,543 shares of the financial services provider's stock after acquiring an additional 22,501 shares during the quarter. Copeland Capital Management LLC owned 0.80% of FirstService worth $51,206,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FSV. The Manufacturers Life Insurance Company raised its holdings in shares of FirstService by 493.4% in the fourth 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 purchasing an additional 2,307,684 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of FirstService by 18,366.1% during the 4th quarter. Wellington Management Group LLP now owns 719,993 shares of the financial services provider's stock worth $111,981,000 after buying an additional 716,094 shares during the period. Janus Henderson Group PLC boosted its stake in FirstService by 73.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,367,564 shares of the financial services provider's stock valued at $212,698,000 after purchasing an additional 579,615 shares during the period. Norges Bank acquired a new position in shares of FirstService in the fourth quarter valued at about $85,597,000. Finally, Orbis Allan Gray Ltd grew its position in FirstService by 36.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider's stock worth $308,677,000 after buying an additional 530,489 shares in the last quarter. Institutional investors own 69.35% of the company's stock.

FirstService Stock Performance

NASDAQ FSV opened at $148.46 on Friday. The company has a fifty day moving average price of $138.48 and a 200-day moving average price of $145.91. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 4.57 and a beta of 0.94. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.66. FirstService Corporation has a 1 year low of $119.41 and a 1 year high of $209.66.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.06. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. As a group, equities research analysts predict that FirstService Corporation will post 5.57 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th were given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. FirstService's dividend payout ratio (DPR) is presently 34.46%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FSV. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. TD Cowen reiterated a "buy" rating and set a $204.00 price target on shares of FirstService in a report on Wednesday, June 3rd. Loop Capital began coverage on shares of FirstService in a research report on Monday, May 4th. They set a "hold" rating and a $140.00 target price for the company. TD increased their price target on FirstService from $204.00 to $207.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Weiss Ratings cut FirstService from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. Eight investment 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 presently has an average rating of "Moderate Buy" and a consensus price target of $195.89.

FirstService Company 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.

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