1,614 Shares in Comfort Systems USA, Inc. $FIX Bought by Convergence Investment Partners LLC

Key Points

• Convergence Investment Partners opened a new position in Comfort Systems USA, buying 1,614 shares valued at about $2.23 million.
• Comfort Systems USA reported better-than-expected quarterly results, with EPS of $10.51 versus $6.81 expected and revenue of $2.87 billion, up 56.5% year over year.
• The company raised its quarterly dividend to $0.80 from $0.70, while analysts remain mostly constructive with a consensus rating of Moderate Buy and an average target price of $2,015.43.

Convergence Investment Partners LLC purchased a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,614 shares of the construction company's stock, valued at approximately $2,226,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Core Wealth Advisors LLC purchased a new stake in shares of Comfort Systems USA in the 4th quarter worth about $28,000. Kemnay Advisory Services Inc. purchased a new position in shares of Comfort Systems USA during the fourth quarter valued at about $33,000. Farmers & Merchants Investments Inc. increased its position in shares of Comfort Systems USA by 29.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after buying an additional 9 shares during the period. JFS Wealth Advisors LLC raised its stake in Comfort Systems USA by 29.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after buying an additional 10 shares in the last quarter. Finally, ORG Partners LLC raised its stake in Comfort Systems USA by 63.0% in the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company's stock worth $41,000 after buying an additional 17 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Comfort Systems USA

In related news, insider Brian E. Lane sold 11,113 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the completion of the sale, the insider owned 161,089 shares of the company's stock, valued at $317,319,555.76. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William George III sold 4,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,948.17, for a total transaction of $7,792,680.00. Following the completion of the transaction, the chief financial officer owned 33,804 shares of the company's stock, valued at approximately $65,855,938.68. The trade was a 10.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 30,778 shares of company stock valued at $59,746,124. 1.24% of the stock is currently owned by insiders.

Comfort Systems USA Trading Up 2.3%

NYSE FIX opened at $1,712.83 on Tuesday. Comfort Systems USA, Inc. has a 12 month low of $513.99 and a 12 month high of $2,073.99. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. The stock's fifty day moving average price is $1,855.02 and its 200-day moving average price is $1,549.75. The stock has a market cap of $60.29 billion, a P/E ratio of 49.42 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the firm earned $4.75 EPS. Comfort Systems USA's quarterly revenue was up 56.5% compared to the same quarter last year. As a group, equities analysts forecast that Comfort Systems USA, Inc. will post 43.39 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, May 15th. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Analyst Ratings Changes

FIX has been the subject of several research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a report on Friday. Zacks Research downgraded Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, June 26th. Glj Research assumed coverage on Comfort Systems USA in a research report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 target price for the company. Oppenheimer assumed coverage on Comfort Systems USA in a research note on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price for the company. Finally, Wall Street Zen lowered Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Comfort Systems USA presently has an average rating of "Moderate Buy" and a consensus target price of $2,015.43.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc is a U.S.-based mechanical contracting company that provides a range of heating, ventilation and air conditioning (HVAC) services to commercial, industrial and institutional customers. The company focuses on the design, installation, maintenance and repair of HVAC systems, and it supports projects from initial engineering and system selection through long-term service agreements and upgrades.

Its service offerings include new construction and retrofit installations, preventive and corrective maintenance, emergency repair, energy management and building automation systems.

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