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

Key Points

• Assenagon Asset Management increased its stake in Comfort Systems USA by 50.9% in Q1, adding 5,115 shares and bringing its total holding to 15,158 shares worth about $20.9 million.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 beating estimates by $3.70 and revenue of $2.87 billion topping expectations. Revenue rose 56.5% year over year, and analysts now expect full-year EPS of 43.39.
• The company raised its quarterly dividend to $0.80 from $0.70, while analysts remain largely bullish with a consensus “Buy” rating and an average price target of $1,991.50.

Assenagon Asset Management S.A. grew its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 50.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,158 shares of the construction company's stock after buying an additional 5,115 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Comfort Systems USA were worth $20,903,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in 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 in the last quarter. Core Wealth Advisors LLC purchased a new stake in shares of Comfort Systems USA in the fourth quarter valued at $28,000. Kemnay Advisory Services Inc. purchased a new stake in Comfort Systems USA in the 4th quarter valued at about $33,000. Farmers & Merchants Investments Inc. increased its position in 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 during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Trading Down 7.9%

Shares of Comfort Systems USA stock opened at $1,857.84 on Friday. The stock has a market capitalization of $65.40 billion, a P/E ratio of 53.60 and a beta of 1.65. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a 12-month low of $510.00 and a 12-month high of $2,073.99. The company has a 50-day simple moving average of $1,865.99 and a 200 day simple moving average of $1,455.43.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same period last year, the firm earned $4.75 earnings per share. The business's revenue for the quarter was up 56.5% on a year-over-year basis. Research analysts expect that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were paid a $0.80 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.23%.

Analyst Ratings Changes

FIX has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Glj Research initiated coverage on Comfort Systems USA in a report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target on the stock. Stifel Nicolaus lifted 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 note on Thursday, April 16th. KeyCorp upgraded shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price for the company in a research note on Friday, April 24th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $1,991.50.

Insiders Place Their Bets

In other news, Director Franklin Myers sold 6,700 shares of the business's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the transaction, the director directly owned 62,115 shares of the company's stock, valued at $121,401,904.05. The trade was a 9.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Julie Shaeff sold 1,123 shares of the business's stock in a transaction on 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 sale, the chief accounting officer owned 12,624 shares of the company's stock, valued at $25,252,670.88. This trade represents a 8.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,778 shares of company stock worth $59,746,124 over the last three months. 1.24% of the stock is currently owned by corporate insiders.

Comfort Systems USA Company 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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