5,057 Shares in Comfort Systems USA, Inc. $FIX Acquired by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management acquired 5,057 shares of Comfort Systems USA worth approximately $10 million, while major institutions including BlackRock, Vanguard, State Street and Geode also increased or initiated positions. Institutions collectively own 96.51% of the stock.
• Comfort Systems USA reported strong quarterly results, with earnings of $12.53 per share and revenue of $3.27 billion, up 50.3% year over year and exceeding analyst expectations.
• The company raised its quarterly dividend from $0.80 to $0.90 per share. Analysts maintain a consensus “Buy” rating with an average price target of $2,057.86, above the reported opening price of $1,879.96.

Meeder Asset Management Inc. bought a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,057 shares of the construction company's stock, valued at approximately $10,023,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Comfort Systems USA in the 2nd quarter worth $6,734,037,000. Vanguard Group Inc. lifted its holdings in shares of Comfort Systems USA by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock valued at $4,022,597,000 after buying an additional 625,567 shares during the period. Norges Bank bought a new position in Comfort Systems USA during the fourth quarter valued at about $469,606,000. State Street Corp boosted its stake in Comfort Systems USA by 35.6% during the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock valued at $1,333,367,000 after buying an additional 375,118 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Comfort Systems USA by 39.0% during the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after buying an additional 332,441 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

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Insider Activity

In other news, Director Rhoman J. Hardy sold 342 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the sale, the director owned 1,890 shares in the company, valued at $3,591,151.20. The trade was a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Franklin Myers sold 6,700 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the completion of the sale, the director owned 62,115 shares of the company's stock, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,542 shares of company stock valued at $26,437,101. Corporate insiders own 1.24% of the company's stock.

Comfort Systems USA Trading Up 6.0%

Shares of NYSE FIX opened at $1,879.96 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. Comfort Systems USA, Inc. has a 12 month low of $655.96 and a 12 month high of $2,073.99. The company has a market cap of $66.16 billion, a price-to-earnings ratio of 46.24 and a beta of 1.69. The business has a fifty day simple moving average of $1,793.64 and a 200-day simple moving average of $1,643.63.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, topping analysts' consensus estimates of $10.45 by $2.08. The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.Comfort Systems USA's revenue was up 50.3% on a year-over-year basis. During the same quarter last year, the business posted $6.53 EPS. Sell-side analysts predict that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Thursday, August 13th will be issued a $0.90 dividend. The ex-dividend date is Thursday, August 13th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio is 8.85%.

Analysts Set New Price Targets

FIX has been the topic of several research reports. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. The Goldman Sachs Group assumed coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 price objective on the stock. Stifel Nicolaus set a $1,910.00 target price on shares of Comfort Systems USA in a report on Monday, July 27th. Finally, Glj Research initiated coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They set a "buy" rating and a $2,001.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $2,057.86.

Comfort Systems USA 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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