FirstService Corporation $FSV Shares Bought by Copeland Capital Management LLC

Key Points

• Copeland Capital Management raised its stake in FirstService by 3.3% in Q4 to 346,042 shares (about 0.76% of the company) worth roughly $53.8 million, while institutional investors now own 69.35% of the stock.
• Earnings beat: FirstService reported $1.37 EPS vs. $1.32 expected and $1.38B in revenue vs. $1.36B, and the company raised its quarterly dividend to $0.305 (annualized $1.22, yield ~0.8%).
• Analysts maintain a “Moderate Buy” consensus with a $207.86 average price target versus a recent share price near $149.16—though several firms have trimmed targets to about $201.00.

Copeland Capital Management LLC increased its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 346,042 shares of the financial services provider's stock after purchasing an additional 10,970 shares during the quarter. Copeland Capital Management LLC owned 0.76% of FirstService worth $53,820,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in FirstService by 3.0% in the 3rd quarter. Captrust Financial Advisors now owns 247,931 shares of the financial services provider's stock worth $47,228,000 after purchasing an additional 7,136 shares during the period. Fenimore Asset Management Inc raised its holdings in FirstService by 44.1% in the 3rd quarter. Fenimore Asset Management Inc now owns 144,633 shares of the financial services provider's stock worth $27,551,000 after purchasing an additional 44,272 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in FirstService by 68.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 15,738 shares of the financial services provider's stock worth $2,998,000 after purchasing an additional 6,394 shares during the period. Jacobson & Schmitt Advisors LLC raised its holdings in FirstService by 52.4% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 144,994 shares of the financial services provider's stock worth $22,551,000 after purchasing an additional 49,829 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in FirstService by 111.3% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 117,322 shares of the financial services provider's stock worth $22,349,000 after purchasing an additional 61,790 shares during the period. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Price Performance

Shares of FirstService stock opened at $149.16 on Friday. The business has a 50 day simple moving average of $146.72 and a two-hundred day simple moving average of $155.56. FirstService Corporation has a 12 month low of $133.42 and a 12 month high of $209.66. The stock has a market capitalization of $6.86 billion, a P/E ratio of 47.20, a PEG ratio of 4.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.73.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The business's revenue was up 1.3% compared to the same quarter last year. As a group, analysts predict that FirstService Corporation will post 5.73 EPS for the current fiscal year.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.305 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This is an increase from FirstService's previous quarterly dividend of $0.28. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.8%. FirstService's payout ratio is currently 38.61%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen cut FirstService from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. TD Securities reduced their price target on FirstService from $217.00 to $201.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of FirstService in a report on Friday, March 27th. TD Cowen reduced their target price on FirstService from $217.00 to $201.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $202.00 target price on shares of FirstService in a report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $207.86.

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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