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

Langdon Equity Partners bought a new stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the financial services provider’s stock, valued at approximately $1,701,000. FirstService comprises 0.9% of Langdon Equity Partners’ investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in FSV. Goldman Sachs Group Inc. grew its position in shares of FirstService by 79.5% in the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after purchasing an additional 141,152 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of FirstService by 40.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider’s stock valued at $9,856,000 after purchasing an additional 17,072 shares during the last quarter. Strs Ohio acquired a new position in shares of FirstService in the first quarter valued at approximately $38,000. Cetera Investment Advisers grew its position in FirstService by 55.3% during the second quarter. Cetera Investment Advisers now owns 2,599 shares of the financial services provider’s stock worth $454,000 after buying an additional 925 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased 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 worth $64,000 after acquiring an additional 292 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Trading Up 1.3%

Shares of FSV opened at $143.36 on Friday. FirstService Corporation has a 52-week low of $119.41 and a 52-week high of $209.66. The business’s fifty day moving average is $139.06 and its 200-day moving average is $148.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 4.30 and a beta of 0.95.

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

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th will be paid a $0.305 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. FirstService’s dividend payout ratio (DPR) is presently 34.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FSV shares. Loop Capital started coverage on FirstService in a research note on Monday, May 4th. They set a “hold” rating and a $140.00 price objective on the stock. TD raised their price objective on FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. TD Cowen restated a “buy” rating and set a $204.00 price objective on shares of FirstService in a research note on Wednesday, June 3rd. Weiss Ratings lowered FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, Scotiabank lowered their price objective on FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.22.

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.