Firstservice Corp

FSV-T

Analysis and Opinions about FSV-T

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
August 15, 2019
(A Top Pick Aug 30/18, Up 23%) Love it. Great Canadian company. Manage condo properties. Can continue to do acquisitions, and continues to grow organically. Lots of room to grow. Great formula, execute incredibly well. Have a vision. Will continue to do well.
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(A Top Pick Aug 30/18, Up 23%) Love it. Great Canadian company. Manage condo properties. Can continue to do acquisitions, and continues to grow organically. Lots of room to grow. Great formula, execute incredibly well. Have a vision. Will continue to do well.
PAST TOP PICK
PAST TOP PICK
July 2, 2019
(A Top Pick Jul 19/18, Up 26%) Love it, a great Canadian company. Their property management business is doing very well. They plan to grown organically and make some small acquisitions of mom-and-pop operations. It's very well-run.
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(A Top Pick Jul 19/18, Up 26%) Love it, a great Canadian company. Their property management business is doing very well. They plan to grown organically and make some small acquisitions of mom-and-pop operations. It's very well-run.
BUY
BUY
June 21, 2019

FSV vs. CIGI He prefers First Service, which is less volatile and more sustainable. Colliers just let go of their head of real estate for misbehaviour, so there's management turmoil. In a recession, Colliers will get hit harder, because there will be fewer transactions in commercial real estate, which is Colliers' business.

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FSV vs. CIGI He prefers First Service, which is less volatile and more sustainable. Colliers just let go of their head of real estate for misbehaviour, so there's management turmoil. In a recession, Colliers will get hit harder, because there will be fewer transactions in commercial real estate, which is Colliers' business.

John Kim

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Price
$127.230
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
May 21, 2019
(A Top Pick Jun 07/18, Up 24%) A Canadian company but most of its businesses are in the U.S. Great story. Very low capex. Owned it for a long time. Management owns almost 40% of the stock. Continues to own it, they buy it here.
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(A Top Pick Jun 07/18, Up 24%) A Canadian company but most of its businesses are in the U.S. Great story. Very low capex. Owned it for a long time. Management owns almost 40% of the stock. Continues to own it, they buy it here.
PAST TOP PICK
PAST TOP PICK
April 9, 2019
(A Top Pick Apr 26/18, Up 31%) Also a top pick today, so details there. Good managers and type of business.
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(A Top Pick Apr 26/18, Up 31%) Also a top pick today, so details there. Good managers and type of business.
TOP PICK
TOP PICK
April 9, 2019
Also a past pick. Trades at 20x earnings, so not cheap. Waht he likes is that it has no capex per se. Last quarter they grew their topline 13%, impressive. They target organic and acqusition growth from mom and pop shops out there, so there's lots of runway here. (Analysts’ price target is $113.46)
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Also a past pick. Trades at 20x earnings, so not cheap. Waht he likes is that it has no capex per se. Last quarter they grew their topline 13%, impressive. They target organic and acqusition growth from mom and pop shops out there, so there's lots of runway here. (Analysts’ price target is $113.46)
TOP PICK
TOP PICK
March 26, 2019
It provides a huge range of services for gated communities. It's a compounder of capital and market leader, but occupies only 5% of this sector, so there's room to grow. It has a high PE, but their runway to buy other companies is long and broad. (Analysts’ price target is $113.46)
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It provides a huge range of services for gated communities. It's a compounder of capital and market leader, but occupies only 5% of this sector, so there's room to grow. It has a high PE, but their runway to buy other companies is long and broad. (Analysts’ price target is $113.46)
PAST TOP PICK
PAST TOP PICK
February 13, 2019
(A Top Pick Feb 12/18, Up 37%) A great Canadian business with American assets like California Closets. smartly, they make small tuck-in acqusitions that grow the business. Also, their property management business is an annuity because clients sig 3/4/5-year contracts that see inflationaty increases. They have no fixed assets, so they're capital-lite. Managers own a lot of stock. Strong managers. They're the biggest in their sector.
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Firstservice Corp (FSV-T)
February 13, 2019
(A Top Pick Feb 12/18, Up 37%) A great Canadian business with American assets like California Closets. smartly, they make small tuck-in acqusitions that grow the business. Also, their property management business is an annuity because clients sig 3/4/5-year contracts that see inflationaty increases. They have no fixed assets, so they're capital-lite. Managers own a lot of stock. Strong managers. They're the biggest in their sector.
PAST TOP PICK
PAST TOP PICK
January 7, 2019
(A Top Pick Jan 09/18, Up 11%) A lot of the gain is from currency. Mostly a US company. Recurring revenues. Thesis is there's a long runway of growth, they have the scale and the buying power to serve condos. Not cheap, but he likes it because of the growth.
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(A Top Pick Jan 09/18, Up 11%) A lot of the gain is from currency. Mostly a US company. Recurring revenues. Thesis is there's a long runway of growth, they have the scale and the buying power to serve condos. Not cheap, but he likes it because of the growth.
TOP PICK
TOP PICK
October 11, 2018

Mainly in property management. Likes that they're capital-light and low capex. Can generate enough cash flow to grow. Acquire a lot of smaller companies in their sector. 25x forward earnings so not cheap, but they execute well. Managers own 20% of shares. (0.7% dividend, Analysts' price target: $108.49)

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Firstservice Corp (FSV-T)
October 11, 2018

Mainly in property management. Likes that they're capital-light and low capex. Can generate enough cash flow to grow. Acquire a lot of smaller companies in their sector. 25x forward earnings so not cheap, but they execute well. Managers own 20% of shares. (0.7% dividend, Analysts' price target: $108.49)

HOLD
HOLD
October 9, 2018

One of the top capital allocators. Valuation is stretched. They continue to growth organically. Lots of recurring business. They dominate the apartments management side of things. He will hold to it. Strong company. It is a little sensitive to the economy, so you have to watch for that.

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One of the top capital allocators. Valuation is stretched. They continue to growth organically. Lots of recurring business. They dominate the apartments management side of things. He will hold to it. Strong company. It is a little sensitive to the economy, so you have to watch for that.

TOP PICK
TOP PICK
August 30, 2018

Great Canadian company. California Closets, College Pro Painters are some of their brands. They are also in the property management business. It is a very capital light business with no fixed assets. Generate very high free cash flows. Very good story in the US. The one thing to worry is their labor costs but hey execute extremely well. (Analysts’ price target is $109.26)

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Great Canadian company. California Closets, College Pro Painters are some of their brands. They are also in the property management business. It is a very capital light business with no fixed assets. Generate very high free cash flows. Very good story in the US. The one thing to worry is their labor costs but hey execute extremely well. (Analysts’ price target is $109.26)

HOLD
HOLD
August 3, 2018

This is a company you do not have to worry about. They have done great acquisitions and management is excellent. You can continue to own it forever.

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This is a company you do not have to worry about. They have done great acquisitions and management is excellent. You can continue to own it forever.

TOP PICK
TOP PICK
June 7, 2018

Two divisions in real estate: property magnament and brands like California Closets and Paul Davis. They manage condos, mostly in gated communities in the U.S. There's little capex, but a lot of free cash flow. They've done well with acquisitions and enjoyed earnings growth with good EBIT margins. (Analysts' price target: $95.22)

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Two divisions in real estate: property magnament and brands like California Closets and Paul Davis. They manage condos, mostly in gated communities in the U.S. There's little capex, but a lot of free cash flow. They've done well with acquisitions and enjoyed earnings growth with good EBIT margins. (Analysts' price target: $95.22)

TOP PICK
TOP PICK
April 26, 2018

Great Canadian company. California Closets, College Pro Painters are some of their brands. They are also in the property management business. Stock trades at 28 times earnings but it is a very capital light business with no fixed assets. Generate very high free cash flows. Very good story in the US. (Analysts’ price target is $94.75)

Show full opinionHide full opinion

Great Canadian company. California Closets, College Pro Painters are some of their brands. They are also in the property management business. Stock trades at 28 times earnings but it is a very capital light business with no fixed assets. Generate very high free cash flows. Very good story in the US. (Analysts’ price target is $94.75)

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