Allstate Corp Invests $2.46 Million in Comfort Systems USA, Inc. $FIX

Key Points

• Allstate Corp opened a new position in Comfort Systems USA during the fourth quarter, buying 2,636 shares valued at about $2.46 million.
• Several analysts turned more bullish on the stock, with multiple firms raising ratings and price targets; MarketBeat data shows a consensus Buy rating and an average target of $1,969.33.
• Comfort Systems USA reported strong quarterly results, beating earnings and revenue estimates, and it also raised its quarterly dividend to $0.80 per share from $0.70.

Allstate Corp acquired a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,636 shares of the construction company's stock, valued at approximately $2,460,000.

A number of other large investors have also modified their holdings of the stock. Ameriflex Group Inc. grew its stake in shares of Comfort Systems USA by 100.0% during the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock worth $25,000 after purchasing an additional 15 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of Comfort Systems USA by 29.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock worth $37,000 after purchasing an additional 9 shares in 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 purchasing an additional 10 shares in the last quarter. ORG Partners LLC grew its stake in shares of Comfort Systems USA by 63.0% during the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company's stock worth $41,000 after purchasing an additional 17 shares in the last quarter. Finally, Financial Life Planners acquired a new position in Comfort Systems USA in the third quarter valued at $42,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insider Buying and Selling at Comfort Systems USA

In other news, insider Brian E. Lane sold 11,113 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the completion of the sale, the insider owned 161,089 shares in the company, valued at approximately $317,319,555.76. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rhoman J. Hardy sold 342 shares of the stock in a transaction dated Wednesday, May 27th. The stock was 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 of the company's stock, valued at $3,591,151.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,694 shares of company stock valued at $54,374,425. Corporate insiders own 1.24% of the company's stock.

Wall Street Analyst Weigh In

FIX has been the subject of several research analyst reports. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Monday. Oppenheimer initiated coverage on shares of Comfort Systems USA in a research note on Thursday. They issued an "outperform" rating and a $2,200.00 price objective for the company. KeyCorp upgraded shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective for the company in a research note on Friday, April 24th. UBS Group upped their price objective on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Finally, Stifel Nicolaus upped their price objective on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $1,969.33.

Comfort Systems USA Stock Performance

NYSE FIX opened at $1,857.34 on Friday. Comfort Systems USA, Inc. has a 1 year low of $465.05 and a 1 year high of $2,073.99. The company has a market capitalization of $65.38 billion, a PE ratio of 53.59 and a beta of 1.70. The company has a fifty day moving average of $1,684.30 and a two-hundred day moving average of $1,318.83. 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 (NYSE:FIX - Get Free Report) last announced its earnings results 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 business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm earned $4.75 earnings per share. The business's quarterly revenue was up 56.5% compared to the same quarter last year. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 15th. Comfort Systems USA's payout ratio is currently 9.23%.

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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