Langdon Equity Partners Takes $1.70 Million Position in FirstService Corporation $FSV

Langdon Equity Partners acquired a new stake in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,000 shares of the financial services provider’s stock, valued at approximately $1,701,000. FirstService comprises approximately 0.9% of Langdon Equity Partners’ investment portfolio, making the stock its 10th largest holding.

Several other hedge funds also recently modified their holdings of the company. Durable Capital Partners LP boosted its holdings in shares of FirstService by 12.9% during the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock valued at $422,263,000 after acquiring an additional 253,155 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of FirstService by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock valued at $304,000,000 after acquiring an additional 29,805 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of FirstService by 5.1% during the 3rd quarter. Mackenzie Financial Corp now owns 1,551,175 shares of the financial services provider’s stock valued at $295,481,000 after acquiring an additional 75,712 shares in the last quarter. Orbis Allan Gray Ltd boosted its holdings in shares of FirstService by 0.5% during the 2nd quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider’s stock valued at $248,636,000 after acquiring an additional 6,680 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of FirstService by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 600,155 shares of the financial services provider’s stock valued at $114,323,000 after acquiring an additional 13,264 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Up 1.3%

Shares of NASDAQ:FSV opened at $143.36 on Friday. The firm has a market cap of $6.59 billion, a P/E ratio of 40.50, a P/E/G ratio of 4.30 and a beta of 0.95. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService Corporation has a 12-month low of $119.41 and a 12-month high of $209.66. The business has a fifty day simple moving average of $139.06 and a 200 day simple moving average of $148.08.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. FirstService had a return on equity of 17.91% and a net margin of 2.92%.FirstService’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. Analysts predict that FirstService Corporation will post 5.54 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. FirstService’s dividend payout ratio (DPR) is currently 34.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FSV shares. Loop Capital started coverage on FirstService in a report on Monday, May 4th. They set a “hold” rating and a $140.00 price objective on the stock. TD Cowen reissued a “buy” rating and set a $204.00 price objective on shares of FirstService in a report on Wednesday, June 3rd. TD raised their price objective on FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a report on Friday, April 24th. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Stifel Nicolaus cut their price objective on FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, FirstService has a consensus rating of “Moderate Buy” and a consensus price target of $197.22.

About FirstService

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.