7,387 Shares in Comfort Systems USA, Inc. $FIX Bought by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd disclosed a new position in Comfort Systems USA, buying 7,387 shares valued at about $10.2 million in the first quarter.
• Comfort Systems USA reported much stronger-than-expected quarterly results, with EPS of $10.51 versus the $6.81 estimate and revenue of $2.87 billion, up 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain generally bullish with a Moderate Buy consensus and an average price target of $1,991.50.

IFM Investors Pty Ltd bought a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,387 shares of the construction company's stock, valued at approximately $10,187,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coston McIsaac & Partners lifted its position in shares of Comfort Systems USA by 3.0% during the 1st quarter. Coston McIsaac & Partners now owns 239 shares of the construction company's stock valued at $329,000 after buying an additional 7 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in Comfort Systems USA by 1.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 572 shares of the construction company's stock worth $789,000 after acquiring an additional 8 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in Comfort Systems USA by 29.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock worth $37,000 after acquiring an additional 9 shares during the period. Great Lakes Advisors LLC raised its stake in Comfort Systems USA by 3.0% during the 4th quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock worth $291,000 after acquiring an additional 9 shares during the period. Finally, JFS Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 10 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Down 6.6%

Comfort Systems USA stock opened at $1,741.16 on Friday. The stock has a market cap of $61.29 billion, a P/E ratio of 50.24 and a beta of 1.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. Comfort Systems USA, Inc. has a 1 year low of $513.99 and a 1 year high of $2,073.99. The firm's 50 day moving average price is $1,884.34 and its 200-day moving average price is $1,483.72.

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

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were issued a dividend of $0.80 per share. 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. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's payout ratio is currently 9.23%.

Insider Buying and Selling at Comfort Systems USA

In related news, CFO William George III sold 4,000 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,948.17, for a total value of $7,792,680.00. Following the sale, the chief financial officer directly owned 33,804 shares in the company, valued at approximately $65,855,938.68. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Julie Shaeff sold 1,123 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the transaction, the chief accounting officer directly owned 12,624 shares of the company's stock, valued at approximately $25,252,670.88. The trade was a 8.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,778 shares of company stock worth $59,746,124. Insiders own 1.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FIX shares. Erste Group Bank initiated coverage on shares of Comfort Systems USA in a research note on Friday, June 5th. They issued a "buy" rating for the company. Oppenheimer initiated coverage on shares of Comfort Systems USA in a report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price for the company. Glj Research began coverage on Comfort Systems USA in a research note on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target for the company. KeyCorp upgraded Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target for the company in a research note on Friday, April 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Comfort Systems USA has an average rating of "Moderate Buy" and an average price target of $1,991.50.

About Comfort Systems USA

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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