Norwood Investment Partners LP Takes Position in FirstService Corporation (NASDAQ:FSV)

Norwood Investment Partners LP purchased a new position in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,140 shares of the financial services provider's stock, valued at approximately $2,181,000. FirstService comprises 1.9% of Norwood Investment Partners LP's investment portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH grew its stake in FirstService by 1.3% during the first quarter. Allianz Asset Management GmbH now owns 5,784 shares of the financial services provider's stock worth $959,000 after buying an additional 76 shares during the period. Diversify Wealth Management LLC grew its stake in FirstService by 4.4% during the first quarter. Diversify Wealth Management LLC now owns 2,127 shares of the financial services provider's stock worth $366,000 after buying an additional 89 shares during the period. Stifel Financial Corp grew its stake in FirstService by 0.5% during the fourth quarter. Stifel Financial Corp now owns 21,205 shares of the financial services provider's stock worth $3,838,000 after buying an additional 102 shares during the period. Vista Finance LLC grew its stake in FirstService by 7.0% during the first quarter. Vista Finance LLC now owns 2,000 shares of the financial services provider's stock worth $332,000 after buying an additional 131 shares during the period. Finally, Fifth Third Bancorp grew its stake in FirstService by 23.0% during the first quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 69.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday. TD Securities upped their target price on shares of FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research note on Friday. Finally, Scotiabank decreased their target price on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $215.25.

FirstService Stock Up 3.1%

Shares of FSV stock traded up $6.08 on Friday, hitting $200.08. The stock had a trading volume of 204,606 shares, compared to its average volume of 144,254. FirstService Corporation has a 52-week low of $153.13 and a 52-week high of $200.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.94 and a current ratio of 1.94. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 64.13 and a beta of 0.99. The stock's 50 day moving average is $177.19 and its 200-day moving average is $174.70.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.26. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.51%. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. As a group, research analysts expect that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were given a $0.275 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.55%. FirstService's dividend payout ratio is presently 38.06%.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.