Assenagon Asset Management S.A. Boosts Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Assenagon Asset Management more than doubled its Comfort Systems USA stake in the second quarter, increasing holdings by 104.6% to 31,013 shares valued at approximately $61.5 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 beating estimates of $10.45 and revenue rising 50.3% year over year to $3.27 billion.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and $2,057.86 price target. The company also raised its quarterly dividend from $0.80 to $0.90 per share.

Assenagon Asset Management S.A. raised its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 104.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,013 shares of the construction company's stock after buying an additional 15,855 shares during the quarter. Assenagon Asset Management S.A. owned about 0.09% of Comfort Systems USA worth $61,466,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Comfort Systems USA by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after purchasing an additional 625,567 shares during the last quarter. Norges Bank bought a new stake in shares of Comfort Systems USA during the fourth quarter valued at approximately $469,606,000. State Street Corp boosted its position in shares of Comfort Systems USA by 35.6% during the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock worth $1,333,367,000 after buying an additional 375,118 shares during the period. Geode Capital Management LLC boosted its position in shares of Comfort Systems USA by 39.0% during the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock worth $1,103,453,000 after buying an additional 332,441 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Comfort Systems USA by 37,987.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company's stock worth $289,349,000 after buying an additional 309,217 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Comfort Systems USA news, Director Rhoman J. Hardy sold 342 shares of Comfort Systems USA stock in a transaction 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 completion of the transaction, the director directly owned 1,890 shares of the company's stock, valued at approximately $3,591,151.20. This trade represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Julie Shaeff sold 1,123 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the completion of the transaction, the chief accounting officer owned 12,624 shares in the company, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,165 shares of company stock worth $18,012,152 over the last 90 days. Corporate insiders own 1.24% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Friday, July 17th. The Goldman Sachs Group initiated coverage on Comfort Systems USA in a report on Thursday, July 9th. They set a "buy" rating and a $2,159.00 price target on the stock. Wall Street Zen cut shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Finally, UBS Group upped their price objective on shares of Comfort Systems USA from $2,125.00 to $2,225.00 and gave the stock a "buy" rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Comfort Systems USA currently has a consensus rating of "Buy" and a consensus price target of $2,057.86.

Comfort Systems USA Stock Performance

NYSE:FIX opened at $1,693.68 on Friday. Comfort Systems USA, Inc. has a 1 year low of $655.96 and a 1 year high of $2,073.99. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The firm's fifty day simple moving average is $1,806.50 and its 200 day simple moving average is $1,614.33. The firm has a market capitalization of $59.60 billion, a PE ratio of 41.65 and a beta of 1.69.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.45 by $2.08. The company had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The business's revenue was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.53 EPS. On average, sell-side analysts anticipate that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Thursday, August 13th will be given a dividend of $0.90 per share. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, August 13th. This represents a $3.60 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio is 7.87%.

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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