429 Shares in Comfort Systems USA, Inc. $FIX Acquired by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust Co. acquired 429 shares of Comfort Systems USA, Inc., worth approximately $230,000, indicating growing institutional interest in the company.
• The company recently announced a dividend increase from $0.45 to $0.50 per quarter, reflecting a commitment to returning value to shareholders.
• Comfort Systems USA reported a significant earnings beat for the last quarter, with earnings per share of $6.53, substantially higher than the analysts' estimate of $4.84.

Canandaigua National Bank & Trust Co. bought a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 429 shares of the construction company's stock, valued at approximately $230,000.

Other hedge funds have also made changes to their positions in the company. Focus Partners Wealth lifted its position in shares of Comfort Systems USA by 85.7% in the 4th quarter. Focus Partners Wealth now owns 1,092 shares of the construction company's stock worth $463,000 after acquiring an additional 504 shares during the period. ProShare Advisors LLC increased its stake in shares of Comfort Systems USA by 7.0% in the 4th quarter. ProShare Advisors LLC now owns 1,659 shares of the construction company's stock valued at $704,000 after buying an additional 108 shares during the period. Royal Bank of Canada increased its stake in shares of Comfort Systems USA by 71.2% in the 4th quarter. Royal Bank of Canada now owns 47,507 shares of the construction company's stock valued at $20,146,000 after buying an additional 19,753 shares during the period. Tidal Investments LLC grew its stake in shares of Comfort Systems USA by 95.8% during the fourth quarter. Tidal Investments LLC now owns 10,189 shares of the construction company's stock worth $4,321,000 after purchasing an additional 4,986 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Comfort Systems USA by 8.5% during the fourth quarter. Two Sigma Investments LP now owns 40,868 shares of the construction company's stock worth $17,330,000 after purchasing an additional 3,193 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Insider Activity

In other news, Director William J. Sandbrook sold 800 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $733.56, for a total transaction of $586,848.00. Following the sale, the director directly owned 11,666 shares in the company, valued at $8,557,710.96. This trade represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Julie Shaeff sold 1,369 shares of Comfort Systems USA stock in a transaction 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 completion of the sale, the chief accounting officer owned 16,023 shares in the company, 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 ninety days, insiders sold 26,783 shares of company stock worth $18,710,798. 1.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FIX. Northcoast Research lowered Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. DA Davidson raised their target price on Comfort Systems USA from $630.00 to $810.00 and gave the company a "buy" rating in a report on Monday, July 28th. UBS Group increased their price target on Comfort Systems USA from $710.00 to $875.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Stifel Nicolaus lifted their price objective on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $668.60.

Comfort Systems USA Stock Down 0.4%

Shares of NYSE FIX traded down $2.82 on Friday, reaching $796.56. 685,925 shares of the company's stock traded hands, compared to its average volume of 384,381. Comfort Systems USA, Inc. has a 12 month low of $276.44 and a 12 month high of $806.58. The business's 50 day simple moving average is $683.84 and its two-hundred day simple moving average is $513.73. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 40.93 and a beta of 1.54. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 EPS 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 firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the prior year, the company posted $3.74 earnings per share. The business's revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities research analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS 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. Stockholders of record on Thursday, August 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, August 14th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's payout ratio is 10.28%.

About Comfort Systems USA

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.