Belpointe Asset Management LLC Buys New Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Belpointe Asset Management LLC has acquired a new stake in Comfort Systems USA, purchasing 1,243 shares valued at approximately $667,000 during the 2nd quarter.
• Insider transactions revealed that Pablo G. Mercado, a director, sold 1,078 shares for over $750,000, indicating a 14.23% decrease in his ownership in the company.
• Wall Street analysts have raised their price targets for Comfort Systems USA, with estimates now ranging up to $810.00, reflecting strong confidence in the company's growth prospects.

Belpointe Asset Management LLC bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,243 shares of the construction company's stock, valued at approximately $667,000.

Other hedge funds have also bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new stake in Comfort Systems USA during the second quarter worth approximately $27,000. Tradewinds Capital Management LLC lifted 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 worth $26,000 after acquiring an additional 27 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Comfort Systems USA during the first quarter worth approximately $31,000. Whittier Trust Co. of Nevada Inc. lifted 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 worth $34,000 after acquiring an additional 37 shares during the last quarter. Finally, Brooklyn Investment Group lifted its position in Comfort Systems USA by 259.4% during the first quarter. Brooklyn Investment Group now owns 115 shares of the construction company's stock worth $37,000 after acquiring an additional 83 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, Director Pablo G. Mercado sold 1,078 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $695.88, for a total transaction of $750,158.64. Following the completion of the transaction, the director directly owned 6,500 shares in the company, valued at $4,523,220. The trade was a 14.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Julie Shaeff sold 1,369 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $704.50, for a total transaction of $964,460.50. Following the transaction, the chief accounting officer owned 16,023 shares of the company's stock, valued at approximately $11,288,203.50. This represents a 7.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,783 shares of company stock valued at $18,710,798. 1.59% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FIX. Stifel Nicolaus raised their price objective on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. DA Davidson raised their price objective 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. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Wednesday. William Blair began coverage on shares of Comfort Systems USA in a research report on Thursday, September 11th. They issued an "outperform" rating for the company. Finally, 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. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $668.60.

Comfort Systems USA Stock Up 3.4%

NYSE FIX opened at $844.36 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. Comfort Systems USA, Inc. has a 1-year low of $276.44 and a 1-year high of $852.31. The company has a 50 day moving average of $741.96 and a 200-day moving average of $556.54. The company has a market cap of $29.79 billion, a price-to-earnings ratio of 43.39 and a beta of 1.58.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, beating analysts' consensus estimates of $4.84 by $1.69. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the business earned $3.74 earnings per share. The firm's quarterly revenue was up 20.1% on a year-over-year basis. On average, equities research analysts expect that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were given a dividend of $0.50 per share. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, August 14th. Comfort Systems USA's dividend payout ratio (DPR) is presently 10.28%.

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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