Copeland Capital Management LLC Purchases 22,501 Shares of FirstService Corporation $FSV

Copeland Capital Management LLC increased its position in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 6.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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’s holdings in FirstService were worth $51,206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in shares of FirstService by 52.2% in the first quarter. Bessemer Group Inc. now owns 191,970 shares of the financial services provider’s stock valued at $26,672,000 after purchasing an additional 65,830 shares during the period. Schwartz Investment Counsel Inc. grew its position in shares of FirstService by 100.0% in the first quarter. Schwartz Investment Counsel Inc. now owns 15,000 shares of the financial services provider’s stock valued at $2,084,000 after purchasing an additional 7,500 shares in the last quarter. Diversify Wealth Management LLC raised its stake in shares of FirstService by 29.7% during the 1st quarter. Diversify Wealth Management LLC now owns 2,429 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 556 shares during the period. Fifth Third Bancorp lifted its holdings in FirstService by 23.7% during the 1st quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 120 shares in the last quarter. Finally, Hardy Reed LLC purchased a new stake in FirstService during the 1st quarter worth about $216,000. 69.35% of the stock is currently owned by institutional investors.

FirstService Stock Performance

Shares of FSV opened at $148.46 on Friday. FirstService Corporation has a 12 month low of $119.41 and a 12 month high of $209.66. The business’s fifty day simple moving average is $138.48 and its two-hundred day simple moving average is $145.91. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 41.94, a P/E/G ratio of 4.57 and a beta of 0.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $1.30 billion for 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 business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 EPS. Research analysts anticipate that FirstService Corporation will post 5.57 earnings per share for the current fiscal year.

FirstService Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FSV shares. Scotiabank dropped their price objective on FirstService from $190.00 to $175.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Stifel Nicolaus decreased their price target on FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Loop Capital began coverage on FirstService in a report on Monday, May 4th. They set a “hold” rating and a $140.00 price target on the stock. Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings downgraded FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, FirstService 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.