Allegiance Financial Group Advisory Services LLC Invests $325,000 in Comfort Systems USA, Inc. $FIX

Key Points

• Allegiance Financial Group Advisory Services LLC invested $325,000 in Comfort Systems USA, acquiring 607 shares of the company, highlighting strong institutional interest with 96.51% ownership by institutional investors.
• Comfort Systems USA reported a profit of $6.53 EPS for the last quarter, exceeding analysts' expectations of $4.84, and saw a significant 20.1% increase in revenue year-over-year.
• The company recently increased its quarterly dividend to $0.50 per share, up from $0.45, indicating a commitment to returning value to shareholders with a 0.2% yield.

Allegiance Financial Group Advisory Services LLC acquired a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 607 shares of the construction company's stock, valued at approximately $325,000.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. raised its position in Comfort Systems USA by 11.7% in the 1st quarter. UMB Bank n.a. now owns 1,096 shares of the construction company's stock worth $353,000 after purchasing an additional 115 shares during the period. Portside Wealth Group LLC raised its position in Comfort Systems USA by 20.9% in the 1st quarter. Portside Wealth Group LLC now owns 1,409 shares of the construction company's stock worth $454,000 after purchasing an additional 244 shares during the period. Farther Finance Advisors LLC raised its position in Comfort Systems USA by 27.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock worth $364,000 after purchasing an additional 239 shares during the period. GAMMA Investing LLC raised its position in Comfort Systems USA by 23.1% in the 1st quarter. GAMMA Investing LLC now owns 789 shares of the construction company's stock worth $254,000 after purchasing an additional 148 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Comfort Systems USA in the 1st quarter worth $2,135,000. 96.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Pablo G. Mercado sold 1,078 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $695.88, for a total value of $750,158.64. Following the completion of the transaction, the director directly owned 6,500 shares of the company's stock, valued at $4,523,220. This represents a 14.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian E. Lane sold 10,000 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $691.74, for a total transaction of $6,917,400.00. Following the completion of the transaction, the insider directly owned 188,046 shares of the company's stock, valued at approximately $130,078,940.04. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,783 shares of company stock valued at $18,710,798 over the last quarter. 1.59% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on FIX. Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. DA Davidson lifted their target price on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Wednesday. William Blair began coverage on shares of Comfort Systems USA in a research report on Thursday, September 11th. They issued an "outperform" rating on the stock. Finally, Zacks Research downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $668.60.

Comfort Systems USA Trading Up 3.4%

NYSE:FIX opened at $844.36 on Thursday. The company has a 50-day moving average price of $741.96 and a 200-day moving average price of $556.54. The stock has a market cap of $29.79 billion, a price-to-earnings ratio of 43.39 and a beta of 1.58. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. Comfort Systems USA, Inc. has a 12 month low of $276.44 and a 12 month high of $852.31.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The company had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the company earned $3.74 earnings per share. Comfort Systems USA's quarterly revenue was up 20.1% on a year-over-year basis. Equities analysts predict that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Thursday, August 14th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's payout ratio is currently 10.28%.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.

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