Argent Capital Management LLC Acquires 1,202 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Argent Capital Management increased its Comfort Systems USA stake by 20.8% in the first quarter, purchasing 1,202 additional shares and bringing its holdings to 6,985 shares valued at approximately $9.6 million. Institutional investors own 96.51% of the company.
• Comfort Systems USA reported a strong quarter, with earnings of $12.53 per share and revenue of $3.27 billion, exceeding analyst expectations; revenue rose 50.3% year over year.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $2,057.86. The company also raised its quarterly dividend to $0.90 per share, while insiders sold roughly $56.3 million of stock over the past three months.

Argent Capital Management LLC increased its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 20.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,985 shares of the construction company's stock after purchasing an additional 1,202 shares during the quarter. Argent Capital Management LLC's holdings in Comfort Systems USA were worth $9,632,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Core Wealth Advisors LLC bought a new stake in Comfort Systems USA during the 4th quarter worth about $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Comfort Systems USA in the 4th quarter valued at about $33,000. Farmers & Merchants Investments Inc. grew its holdings in shares of Comfort Systems USA by 29.0% in the 4th 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 in the last quarter. CENTRAL TRUST Co acquired a new stake in shares of Comfort Systems USA in the first quarter valued at about $46,000. Finally, Ascentis Independent Advisors acquired a new stake in shares of Comfort Systems USA in the first quarter valued at about $46,000. Institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

FIX has been the subject of several recent research reports. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. KeyCorp raised their price target on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an "overweight" rating in a research note on Monday. Erste Group Bank lowered Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. UBS Group upped their price objective 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. Finally, Stifel Nicolaus set a $1,910.00 price objective on Comfort Systems USA in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $2,057.86.

Comfort Systems USA Stock Up 1.8%

Shares of FIX stock opened at $1,728.56 on Friday. 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 firm's 50-day moving average is $1,817.97 and its 200-day moving average is $1,591.10. The stock has a market cap of $60.83 billion, a price-to-earnings ratio of 42.51 and a beta of 1.66. Comfort Systems USA, Inc. has a 52-week low of $655.96 and a 52-week high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS 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 analysts' expectations of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.Comfort Systems USA's quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter last year, the company posted $6.53 earnings per share. Sell-side analysts predict that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

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

Insider Activity at Comfort Systems USA

In related news, Director Rhoman J. Hardy sold 342 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 1,890 shares of the company's stock, valued at approximately $3,591,151.20. The trade was a 15.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Franklin Myers sold 6,700 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the completion of the sale, the director owned 62,115 shares in the company, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,778 shares of company stock worth $56,257,229 in the last three months. 1.24% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding FIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comfort Systems USA, Inc. (NYSE:FIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.