Beese Fulmer Investment Management Inc. Invests $579,000 in Comfort Systems USA, Inc. $FIX

Key Points

• Beese Fulmer Investment Management opened a new position in Comfort Systems USA during the fourth quarter, buying 620 shares valued at about $579,000.
• Comfort Systems USA reported a strong quarterly beat, with EPS of $10.51 versus estimates of $6.81 and revenue of $2.87 billion, up 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts currently maintain a consensus rating of Moderate Buy with an average price target of $1,923.20.

Beese Fulmer Investment Management Inc. bought a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 620 shares of the construction company's stock, valued at approximately $579,000.

Other institutional investors have also made changes to their positions in the company. Ethic Inc. lifted its holdings in shares of Comfort Systems USA by 80.5% during the fourth quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock valued at $1,565,000 after purchasing an additional 748 shares during the last quarter. Spire Wealth Management increased its stake in Comfort Systems USA by 658.1% during the 4th quarter. Spire Wealth Management now owns 5,390 shares of the construction company's stock valued at $5,031,000 after purchasing an additional 4,679 shares in the last quarter. Caerus Investment Advisors LLC purchased a new position in Comfort Systems USA in the third quarter worth about $767,000. Moran Wealth Management LLC lifted its stake in shares of Comfort Systems USA by 34.0% in the fourth quarter. Moran Wealth Management LLC now owns 28,357 shares of the construction company's stock worth $26,465,000 after buying an additional 7,192 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Comfort Systems USA by 50.1% during the third quarter. Private Advisor Group LLC now owns 7,781 shares of the construction company's stock valued at $6,420,000 after buying an additional 2,598 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Comfort Systems USA Trading Up 0.1%

Shares of NYSE:FIX opened at $1,994.37 on Monday. The business's 50-day moving average is $1,599.07 and its 200 day moving average is $1,263.40. 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 $452.04 and a 1 year high of $2,073.99. The firm has a market capitalization of $70.20 billion, a P/E ratio of 57.54 and a beta of 1.70.

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 (EPS) for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.Comfort Systems USA's revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.75 earnings per share. On average, research analysts predict that Comfort Systems USA, Inc. will post 43.17 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 15th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.2%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, May 15th. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.23%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. 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. UBS Group raised their price target on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Zacks Research cut shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Finally, KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective on the stock in a report on Friday, April 24th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,923.20.

Insider Buying and Selling

In other Comfort Systems USA news, Director William J. Sandbrook sold 2,500 shares of the company's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $1,443.32, for a total value of $3,608,300.00. Following the transaction, the director owned 9,166 shares of the company's stock, valued at approximately $13,229,471.12. This represents a 21.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Franklin Myers sold 8,636 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $1,472.56, for a total value of $12,717,028.16. Following the transaction, the director directly owned 73,995 shares in the company, valued at approximately $108,962,077.20. This represents a 10.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,024 shares of company stock worth $99,678,386 over the last 90 days. Company insiders own 1.24% of the company's stock.

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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