Balboa Wealth Partners Buys New Position in Comfort Systems USA, Inc. $FIX

Key Points

• Balboa Wealth Partners acquired a new stake in Comfort Systems USA, buying 588 shares valued at approximately $315,000 during the second quarter.
• Analysts have upgraded Comfort Systems USA's stock ratings, with several firms increasing their price targets significantly, indicating a general positive outlook on the stock's performance.
• The company recently raised its quarterly dividend to $0.50 per share from $0.45, reflecting a 10.28% payout ratio and a $2.00 annualized dividend yield.

Balboa Wealth Partners bought a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 588 shares of the construction company's stock, valued at approximately $315,000.

Several other large investors also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its position in Comfort Systems USA by 12.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock valued at $107,000 after buying an additional 22 shares during the period. Tradewinds Capital Management LLC grew its position in Comfort Systems USA by 49.1% during the first quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock valued at $26,000 after buying an additional 27 shares during the period. Fifth Third Bancorp grew its position in Comfort Systems USA by 2.0% during the second quarter. Fifth Third Bancorp now owns 1,739 shares of the construction company's stock valued at $932,000 after buying an additional 34 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Comfort Systems USA by 54.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company's stock valued at $34,000 after buying an additional 37 shares during the period. Finally, IFP Advisors Inc grew its position in Comfort Systems USA by 8.7% during the second quarter. IFP Advisors Inc now owns 475 shares of the construction company's stock valued at $255,000 after buying an additional 38 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FIX. Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. DA Davidson upped their price target on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Stifel Nicolaus upped their price target on shares of Comfort Systems USA from $746.00 to $917.00 and gave the stock a "buy" rating in a research report on Monday, October 13th. Zacks Research lowered shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Finally, Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $735.80.

Comfort Systems USA Price Performance

FIX stock opened at $835.55 on Tuesday. Comfort Systems USA, Inc. has a one year low of $276.44 and a one year high of $861.77. The company's fifty day moving average price is $764.08 and its 200-day moving average price is $587.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The company has a market capitalization of $29.48 billion, a PE ratio of 42.94 and a beta of 1.58.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Monday, August 15th. The construction company reported $0.90 EPS for the quarter. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The firm had revenue of $713.90 million for the quarter. On average, equities analysts anticipate that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Thursday, August 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 14th. Comfort Systems USA's payout ratio is presently 10.28%.

Insider Transactions at Comfort Systems USA

In other news, insider Brian E. Lane sold 10,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $691.74, for a total value of $6,917,400.00. Following the transaction, the insider owned 188,046 shares of the company's stock, valued at approximately $130,078,940.04. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO T Mckenna Trent sold 4,400 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $716.63, for a total transaction of $3,153,172.00. Following the completion of the transaction, the chief operating officer directly owned 21,639 shares in the company, valued at $15,507,156.57. This trade represents a 16.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,783 shares of company stock valued at $18,710,798. 1.59% of the stock is owned by corporate insiders.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.

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