Norwood Investment Partners LP Decreases Stock Position in FirstService Corporation $FSV

Norwood Investment Partners LP trimmed its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 30.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,000 shares of the financial services provider’s stock after selling 8,877 shares during the period. FirstService makes up about 3.3% of Norwood Investment Partners LP’s investment portfolio, making the stock its 12th largest holding. Norwood Investment Partners LP’s holdings in FirstService were worth $3,810,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares in the last quarter. Strs Ohio purchased a new position in FirstService in the 1st quarter worth about $38,000. EverSource Wealth Advisors LLC lifted its stake in FirstService by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 292 shares during the period. Spire Wealth Management boosted its holdings in shares of FirstService by 300.0% during the 3rd quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 300 shares during the last quarter. Finally, Trust Co. of Vermont boosted its holdings in shares of FirstService by 70.6% during the 3rd quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

FSV has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of FirstService in a research report on Monday, December 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $202.00 target price on shares of FirstService in a research note on Thursday, February 5th. Finally, TD Securities restated a “buy” rating and issued a $217.00 price target on shares of FirstService in a research note on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, FirstService currently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

FirstService Stock Down 2.1%

Shares of FSV stock opened at $150.72 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.79. FirstService Corporation has a 12 month low of $147.23 and a 12 month high of $209.66. The stock has a market cap of $6.89 billion, a P/E ratio of 47.70, a P/E/G ratio of 4.13 and a beta of 1.05. The company has a 50 day simple moving average of $157.15 and a two-hundred day simple moving average of $169.15.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. FirstService had a net margin of 2.64% and a return on equity of 18.69%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 EPS. On average, research analysts expect that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.305 per share. This is a boost from FirstService’s previous quarterly dividend of $0.28. This represents a $1.22 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 31st. FirstService’s dividend payout ratio is presently 34.81%.

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.