Several Reasons to Add FirstService Corporation (FSV) to Your Portfolio
Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered 3.46% net of fees compared to a 4.13% return for the Russell 2000 Growth Index. Style factor headwinds and relative sector positioning offset the positive stock selection in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen Capital highlighted stocks like FirstService Corporation (NASDAQ:FSV) in the fourth quarter 2022 investor letter. Headquartered in Toronto, Canada, FirstService Corporation (NASDAQ:FSV) is a property management company. On January 24, 2023, FirstService Corporation (NASDAQ:FSV) stock closed at $140.72 per share. One-month return of FirstService Corporation (NASDAQ:FSV) was 16.24%, and its shares lost 11.28% of their value over the last 52 weeks. FirstService Corporation (NASDAQ:FSV) has a market capitalization of $6.23 billion.
Polen Capital made the following comment about FirstService Corporation (NASDAQ:FSV) in its Q4 2022 investor letter:
“FirstService Corporation (NASDAQ:FSV) is a Canadian company with operations mainly in the US. It operates two attractive businesses: 1) the largest US residential property manager and 2) owner/operator and master franchisor of a variety of leading home service brands, including Paul Davis Restoration (residential restoration services), First Onsite (commercial restoration services), CertaPro Painters, California Closets, and Century Fire Protection, among others. FirstService has a leadership position in each of its businesses, and it operates in highly fragmented markets, which we believe creates a long runway ahead for the company to continue its pace of mid-teens top-line growth with modest margin improvements over time. Further, the business model has shown less economic sensitivity historically, generating high recurring revenue and cash flow, which management has proven adept at thoughtfully deploying.”
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FirstService Corporation (NASDAQ:FSV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held FirstService Corporation (NASDAQ:FSV) at the end of the third quarter, which was 12 in the previous quarter.
We discussed FirstService Corporation (NASDAQ:FSV) in another article and shared best real estate stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
