BlackRock Inc. Buys Shares of 3,397,683 Comfort Systems USA, Inc. $FIX

Key Points

• BlackRock acquired 3.4 million shares of Comfort Systems USA during the second quarter, worth approximately $6.7 billion and representing a 9.65% stake. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 beating estimates by $2.08 and revenue rising 50.3% year over year to $3.27 billion. Analysts maintain a consensus “Buy” rating with an average price target of $2,057.86.
• The company increased its quarterly dividend from $0.80 to $0.90 per share, equivalent to a $3.60 annualized dividend and a 0.2% yield, while insiders have sold more than $26.4 million of stock over the past 90 days.

BlackRock Inc. purchased a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,397,683 shares of the construction company's stock, valued at approximately $6,734,037,000. BlackRock Inc. owned approximately 9.65% of Comfort Systems USA at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Core Wealth Advisors LLC bought a new position in Comfort Systems USA during the fourth quarter valued at about $28,000. Avalon Trust Co bought a new stake in Comfort Systems USA in the second quarter worth about $32,000. Kemnay Advisory Services Inc. acquired a new stake in Comfort Systems USA in the 4th quarter valued at about $33,000. Carolina Wealth Advisors LLC lifted its holdings in Comfort Systems USA by 63.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock valued at $36,000 after acquiring an additional 7 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of Comfort Systems USA by 29.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after purchasing an additional 9 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FIX. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Stifel Nicolaus set a $1,910.00 price objective on Comfort Systems USA in a research note on Monday, July 27th. Oppenheimer assumed coverage on Comfort Systems USA in a research note on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price objective for the company. Finally, KeyCorp lifted their target price on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. One 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.com, Comfort Systems USA currently has an average rating of "Buy" and a consensus target price of $2,057.86.

Comfort Systems USA Stock Performance

Comfort Systems USA stock opened at $1,879.96 on Tuesday. Comfort Systems USA, Inc. has a fifty-two week low of $655.96 and a fifty-two week high of $2,073.99. The firm's 50 day simple moving average is $1,793.64 and its 200-day simple moving average is $1,643.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. The company has a market cap of $66.16 billion, a P/E ratio of 46.24 and a beta of 1.69.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm earned $6.53 EPS. The firm's quarterly revenue was up 50.3% on a year-over-year basis. As a group, equities research analysts predict that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently declared 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 a positive change from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, August 13th. Comfort Systems USA's payout ratio is currently 8.85%.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, Director Rhoman J. Hardy sold 342 shares of the 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 value of $649,827.36. Following the completion of the sale, the director owned 1,890 shares in the company, valued at $3,591,151.20. This represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Franklin Myers sold 4,000 shares of Comfort Systems USA stock in a transaction on 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 directly owned 8,495 shares of the company's stock, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,542 shares of company stock valued at $26,437,101. 1.24% of the stock is currently owned by corporate insiders.

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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