Amundi Raises Position in Comfort Systems USA, Inc. $FIX

Key Points

• Amundi more than doubled its Comfort Systems USA position in the second quarter, increasing its stake by 114.1% to 292,904 shares valued at approximately $580.5 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA exceeded quarterly expectations, reporting $12.53 in EPS and $3.27 billion in revenue, with revenue rising 50.3% year over year. Analysts maintain a consensus “Buy” rating and an average price target of $2,082.86.
• Company insiders sold 32,778 shares worth $56.3 million over the past three months, while Comfort Systems USA raised its quarterly dividend from $0.80 to $0.90 per share, equivalent to a 0.2% annualized yield.

Amundi increased its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 114.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 292,904 shares of the construction company's stock after acquiring an additional 156,069 shares during the period. Amundi owned about 0.83% of Comfort Systems USA worth $580,521,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FIX. Jones Financial Companies Lllp purchased a new position in shares of Comfort Systems USA during the second quarter valued at approximately $26,000. Core Wealth Advisors LLC bought a new position in Comfort Systems USA during the fourth quarter valued at approximately $28,000. Avalon Trust Co purchased a new stake in Comfort Systems USA in the second quarter worth approximately $32,000. Field & Main Bank purchased a new stake in Comfort Systems USA in the second quarter worth approximately $32,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Comfort Systems USA in the 4th quarter worth approximately $33,000. 96.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. DA Davidson assumed coverage on shares of Comfort Systems USA in a research note on Friday, August 21st. They set a "buy" rating and a $2,100.00 target price for the company. Oppenheimer assumed coverage on Comfort Systems USA in a report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price objective for the company. Erste Group Bank cut Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. The Goldman Sachs Group assumed coverage on Comfort Systems USA in a report on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 target price on the stock. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Comfort Systems USA currently has a consensus rating of "Buy" and a consensus target price of $2,082.86.

Insiders Place Their Bets

In other Comfort Systems USA news, insider Brian Lane sold 16,024 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the completion of the transaction, the insider directly owned 145,065 shares in the company, valued at $233,294,983.65. This represents a 9.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Franklin Myers sold 6,700 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the sale, the director directly owned 62,115 shares of the company's stock, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,778 shares of company stock worth $56,306,777 in the last three months. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Price Performance

NYSE FIX opened at $1,611.87 on Monday. The business's fifty day moving average is $1,708.39 and its 200 day moving average is $1,681.05. Comfort Systems USA, Inc. has a fifty-two week low of $682.00 and a fifty-two week high of $2,073.99. 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 has a market capitalization of $56.72 billion, a PE ratio of 39.64 and a beta of 1.67.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, topping analysts' consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The company's revenue was up 50.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.53 earnings per share. Sell-side analysts predict that Comfort Systems USA, Inc. will post 47.2 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Thursday, August 13th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. Comfort Systems USA's payout ratio is presently 8.85%.

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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