Bellars Harris Wealth Management LLC Invests $9.23 Million in Comfort Systems USA, Inc. $FIX

Key Points

• Bellars Harris Wealth Management initiated a $9.23 million position in Comfort Systems USA, purchasing 4,655 shares; institutional investors collectively own 96.51% of the stock.
• Analysts maintain a favorable outlook, with an average “Buy” rating and a consensus price target of $2,057.86. The company recently exceeded quarterly earnings and revenue expectations, reporting $12.53 EPS and $3.27 billion in revenue.
• Comfort Systems USA increased its quarterly dividend to $0.90 per share, while insiders sold 14,542 shares worth approximately $26.4 million over the past 90 days.

Bellars Harris Wealth Management LLC bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,655 shares of the construction company's stock, valued at approximately $9,226,000. Comfort Systems USA makes up approximately 1.9% of Bellars Harris Wealth Management LLC's portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Core Wealth Advisors LLC bought a new position in Comfort Systems USA in the 4th quarter valued at $28,000. Avalon Trust Co bought a new stake in shares of Comfort Systems USA during the 2nd quarter worth $32,000. Kemnay Advisory Services Inc. purchased a new position in shares of Comfort Systems USA in the 4th quarter worth about $33,000. Carolina Wealth Advisors LLC boosted its holdings in shares of Comfort Systems USA by 63.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock worth $36,000 after buying an additional 7 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew 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 valued at $37,000 after buying an additional 9 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on FIX. Stifel Nicolaus set a $1,910.00 price objective on shares of Comfort Systems USA in a research report on Monday, July 27th. Glj Research assumed coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 target price for the company. Oppenheimer initiated coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price target for the company. UBS Group upped their price objective on Comfort Systems USA from $2,125.00 to $2,225.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Finally, Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Comfort Systems USA presently has an average rating of "Buy" and a consensus price target of $2,057.86.

Insider Buying and Selling

In related news, Director Rhoman J. Hardy sold 342 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 owned 1,890 shares of the company's stock, valued at approximately $3,591,151.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Franklin Myers sold 6,700 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the sale, the director directly owned 62,115 shares in the company, valued at $121,401,904.05. This trade represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 14,542 shares of company stock valued at $26,437,101 over the last 90 days. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Stock Performance

NYSE:FIX opened at $1,774.19 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. Comfort Systems USA, Inc. has a 52-week low of $655.96 and a 52-week high of $2,073.99. The firm has a market cap of $62.43 billion, a price-to-earnings ratio of 43.63 and a beta of 1.69. The business's fifty day moving average is $1,793.06 and its 200 day moving average is $1,634.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, topping the consensus estimate of $10.45 by $2.08. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The firm's revenue was up 50.3% compared to the same quarter last year. During the same quarter last year, the company earned $6.53 EPS. Research analysts predict that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Thursday, August 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, August 13th. Comfort Systems USA's dividend payout ratio (DPR) is 8.85%.

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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