Algebris UK Ltd. Buys New Shares in Comfort Systems USA, Inc. $FIX

Key Points

• Algebris UK Ltd. initiated a position in Comfort Systems USA by purchasing 728 shares valued at approximately $1.44 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with earnings per share of $12.53 beating estimates by $2.08 and revenue rising 50.3% year over year to $3.27 billion.
• The company raised its quarterly dividend to $0.90 per share, while analysts maintained a consensus “Buy” rating with an average price target of $2,057.86; insiders, however, have sold more than $31 million in stock over the past three months.

Algebris UK Ltd. bought a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 728 shares of the construction company's stock, valued at approximately $1,438,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FIX. E Fund Management Co. Ltd. acquired a new position in shares of Comfort Systems USA in the second quarter valued at about $262,000. NWK Group Inc. acquired a new position in Comfort Systems USA in the 2nd quarter worth approximately $9,028,000. Edmond DE Rothschild Holding S.A. acquired a new position in Comfort Systems USA in the 2nd quarter worth approximately $797,000. Geneva Partners LLC purchased a new position in Comfort Systems USA during the 2nd quarter worth approximately $8,553,000. Finally, Johnson Financial Group Inc. purchased a new position in Comfort Systems USA during the 2nd quarter worth approximately $383,000. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

Shares of NYSE FIX opened at $1,691.56 on Thursday. The company has a market capitalization of $59.53 billion, a PE ratio of 41.60 and a beta of 1.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. The company's fifty day moving average price is $1,791.43 and its 200 day moving average price is $1,651.31. Comfort Systems USA, Inc. has a 1 year low of $655.96 and a 1 year high of $2,073.99.

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

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Thursday, August 13th will be given a dividend of $0.90 per share. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, August 13th. Comfort Systems USA's dividend payout ratio (DPR) is currently 8.85%.

Analysts Set New Price Targets

Several equities research analysts have commented on FIX shares. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Wall Street Zen lowered Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. KeyCorp boosted their price objective on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an "overweight" rating in a report on Monday, July 27th. UBS Group upped their target price on Comfort Systems USA from $2,125.00 to $2,225.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Finally, Erste Group Bank lowered Comfort Systems USA from a "buy" rating to a "hold" rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $2,057.86.

Insider Buying and Selling at Comfort Systems USA

In other news, CFO William George III sold 2,554 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the transaction, the chief financial officer directly owned 30,250 shares of the company's stock, valued at $56,254,412.50. This represents a 7.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Franklin Myers sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the transaction, the director owned 8,495 shares in the company, valued at $14,389,850.40. This trade represents a 32.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 17,096 shares of company stock valued at $31,186,647. Company insiders own 1.24% of the company's stock.

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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