Bank of Nova Scotia Invests $13.72 Million in Comfort Systems USA, Inc. $FIX

Bank of Nova Scotia bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,925 shares of the construction company's stock, valued at approximately $13,725,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Avalon Trust Co acquired a new position in Comfort Systems USA during the second quarter worth $32,000. Carolina Wealth Advisors LLC lifted its stake in shares of Comfort Systems USA by 63.6% in the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock valued at $36,000 after buying an additional 7 shares in the last quarter. Kilter Group LLC acquired a new position in shares of Comfort Systems USA during the second quarter valued at about $48,000. Core Wealth Advisors LLC bought a new stake in shares of Comfort Systems USA during the fourth quarter worth about $28,000. Finally, CENTRAL TRUST Co bought a new stake in shares of Comfort Systems USA during the first quarter worth about $46,000. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Price Performance

FIX opened at $1,607.66 on Tuesday. Comfort Systems USA, Inc. has a fifty-two week low of $670.19 and a fifty-two week high of $2,073.99. The firm has a 50-day moving average of $1,776.76 and a 200 day moving average of $1,661.26. 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 has a market cap of $56.57 billion, a P/E ratio of 39.54 and a beta of 1.69.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating analysts' consensus estimates of $10.45 by $2.08. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same period in the previous year, the company earned $6.53 earnings per share. The company's quarterly revenue was up 50.3% on a year-over-year basis. On average, research analysts expect 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 was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were given a dividend of $0.90 per share. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, August 13th. Comfort Systems USA's dividend payout ratio (DPR) is 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 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 sale, the director directly owned 1,890 shares in the company, valued at approximately $3,591,151.20. The trade was a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Franklin Myers sold 4,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the sale, the director owned 8,495 shares in the company, valued at approximately $14,389,850.40. This represents a 32.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 17,096 shares of company stock worth $31,186,647. 1.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. The Goldman Sachs Group initiated coverage on Comfort Systems USA in a research report on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 price target for the company. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Stifel Nicolaus set a $1,910.00 price objective on shares of Comfort Systems USA in a report on Monday, July 27th. Finally, UBS Group set a $2,100.00 target price on shares of Comfort Systems USA in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $2,082.86.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source