Arrowstreet Capital Limited Partnership Boosts Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• Arrowstreet Capital increased its stake in Comfort Systems USA by 17.9% in the fourth quarter, buying 34,064 more shares and ending with 224,267 shares valued at about $209.3 million.
• Several analysts remain bullish on the stock, with recent rating upgrades and target hikes including UBS at $2,125 and Oppenheimer at $2,200; the consensus rating is Buy.
• Comfort Systems USA reported strong quarterly results, posting $10.51 EPS on $2.87 billion in revenue, well above expectations, and also raised its quarterly dividend to $0.80 per share.

Arrowstreet Capital Limited Partnership boosted its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,267 shares of the construction company's stock after buying an additional 34,064 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.64% of Comfort Systems USA worth $209,306,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ameriflex Group Inc. increased its holdings in Comfort Systems USA by 100.0% in the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock valued at $25,000 after buying an additional 15 shares during the last quarter. Core Wealth Advisors LLC purchased a new position in shares of Comfort Systems USA in the 4th quarter valued at $28,000. Farmers & Merchants Investments Inc. grew its position 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 buying an additional 9 shares during the last quarter. JFS Wealth Advisors LLC grew its position in shares of Comfort Systems USA by 29.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 10 shares during the last quarter. Finally, ORG Partners LLC grew its position in shares of Comfort Systems USA by 63.0% in the 4th quarter. ORG Partners LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insider Activity

In related news, insider Brian E. Lane sold 11,113 shares of the stock in a transaction on 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 $317,319,555.76. This represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William George III sold 1,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the completion of the sale, the chief financial officer owned 32,804 shares of the company's stock, valued at $66,295,571.84. This trade represents a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,078 shares of company stock worth $46,651,175 over the last 90 days. 1.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on FIX shares. Erste Group Bank started coverage on shares of Comfort Systems USA in a research report on Friday, June 5th. They issued a "buy" rating on the stock. Stifel Nicolaus increased their target price on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Oppenheimer started coverage on shares of Comfort Systems USA in a research report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price on the stock. DA Davidson increased their target price on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Finally, UBS Group increased their target price on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a "buy" rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Comfort Systems USA presently has an average rating of "Buy" and a consensus target price of $1,991.50.

Comfort Systems USA Stock Down 0.0%

Shares of NYSE:FIX opened at $1,877.52 on Monday. The stock has a market cap of $66.09 billion, a P/E ratio of 54.17 and a beta of 1.66. The firm has a fifty day moving average price of $1,781.45 and a 200 day moving average price of $1,389.51. 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, Inc. has a 1-year low of $489.54 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The firm had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. Comfort Systems USA's quarterly revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.75 EPS. Sell-side analysts predict that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were paid a dividend of $0.80 per share. The ex-dividend date was Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio (DPR) 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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