Algebris UK Ltd. Buys Shares of 1,044 Comfort Systems USA, Inc. $FIX

Key Points

• Algebris UK Ltd. initiated a new position in Comfort Systems USA, buying 1,044 shares worth about $975,000 in the fourth quarter.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 and revenue of $2.87 billion, both beating analyst expectations. Revenue rose 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain generally upbeat with a Moderate Buy consensus and an average target price of $1,923.20.

Algebris UK Ltd. bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,044 shares of the construction company's stock, valued at approximately $975,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Farmers & Merchants Investments Inc. grew its position in Comfort Systems USA by 29.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after acquiring an additional 9 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Comfort Systems USA by 29.4% during 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 during the last quarter. West Michigan Advisors LLC grew its stake in shares of Comfort Systems USA by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 768 shares of the construction company's stock worth $717,000 after buying an additional 10 shares during the last quarter. EWA LLC grew its stake in shares of Comfort Systems USA by 2.7% during the fourth quarter. EWA LLC now owns 379 shares of the construction company's stock worth $353,000 after buying an additional 10 shares during the last quarter. Finally, Armstrong Advisory Group Inc. grew its stake in shares of Comfort Systems USA by 4.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 283 shares of the construction company's stock worth $264,000 after buying an additional 11 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Insider Buying and Selling

In related news, Director Pablo G. Mercado sold 500 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $1,779.78, for a total value of $889,890.00. Following the sale, the director directly owned 3,000 shares in the company, valued at $5,339,340. This represents a 14.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian E. Lane sold 11,113 shares of the company'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 value of $21,890,831.92. Following the completion of the sale, the insider owned 161,089 shares in the company, valued at $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,024 shares of company stock valued at $99,678,386 over the last quarter. 1.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FIX. DA Davidson boosted their target price on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. Zacks Research cut shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price on the stock in a research note on Friday, April 24th. Finally, Stifel Nicolaus boosted their price target on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,923.20.

Comfort Systems USA Stock Performance

NYSE:FIX opened at $1,834.04 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a 1-year low of $452.04 and a 1-year high of $2,073.99. The stock has a market cap of $64.56 billion, a P/E ratio of 52.92 and a beta of 1.70. The stock's 50-day moving average is $1,629.45 and its 200-day moving average is $1,281.43.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The company had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter in the previous year, the firm posted $4.75 earnings per share. Comfort Systems USA's revenue for the quarter was up 56.5% on a year-over-year basis. Equities research analysts anticipate that Comfort Systems USA, Inc. will post 43.17 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 15th will be paid a $0.80 dividend. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, May 15th. Comfort Systems USA's payout ratio is presently 9.23%.

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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