FirstService Corporation $FSV is Conestoga Capital Advisors LLC’s 4th Largest Position

Conestoga Capital Advisors LLC increased its stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 19.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,405,564 shares of the financial services provider’s stock after purchasing an additional 233,043 shares during the period. FirstService makes up approximately 3.9% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 4th biggest holding. Conestoga Capital Advisors LLC owned approximately 3.06% of FirstService worth $195,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in FirstService by 493.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider’s stock worth $432,173,000 after buying an additional 2,307,684 shares in the last quarter. Durable Capital Partners LP raised its position 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 buying an additional 253,155 shares in the last quarter. Orbis Allan Gray Ltd raised its position in shares of FirstService by 36.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider’s stock valued at $308,677,000 after buying an additional 530,489 shares in the last quarter. Vanguard Group Inc. lifted 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 worth $304,000,000 after acquiring an additional 29,805 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of FirstService by 15.5% during the 4th quarter. Mackenzie Financial Corp now owns 1,791,116 shares of the financial services provider’s stock worth $278,247,000 after acquiring an additional 239,941 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Price Performance

FSV stock opened at $143.06 on Thursday. The firm has a market cap of $6.58 billion, a P/E ratio of 40.41, a P/E/G ratio of 4.32 and a beta of 0.93. The firm’s fifty day moving average is $137.15 and its 200 day moving average is $146.68. FirstService Corporation has a 52 week low of $119.41 and a 52 week high of $209.66. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66.

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

FirstService Announces Dividend

The business also recently announced 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. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. FirstService’s payout ratio is 34.46%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FSV shares. TD Cowen reissued a “buy” rating and issued a $204.00 target price on shares of FirstService in a research note on Wednesday, June 3rd. Stifel Nicolaus dropped their price target on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Weiss Ratings cut FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Scotiabank decreased their price objective on FirstService from $190.00 to $175.00 and set an “outperform” rating on the stock in a report on Tuesday. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $195.56.

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.