Cardinal Point Capital Management ULC Makes New $4.53 Million Investment in Comfort Systems USA, Inc. $FIX

Key Points

• Cardinal Point Capital Management ULC has made a new investment in Comfort Systems USA, acquiring 8,450 shares valued at approximately $4.53 million.
• Comfort Systems USA has announced a quarterly dividend increase from $0.50 to $0.60, scheduled to be paid on November 24th.
• Recently, UBS Group raised its target price for Comfort Systems USA from $710.00 to $875.00 and maintained a “buy” rating for the stock.

Cardinal Point Capital Management ULC acquired a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,450 shares of the construction company's stock, valued at approximately $4,531,000.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Comfort Systems USA by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,802,542 shares of the construction company's stock worth $1,225,673,000 after purchasing an additional 21,847 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of Comfort Systems USA by 0.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 889,639 shares of the construction company's stock valued at $286,757,000 after purchasing an additional 4,512 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Comfort Systems USA by 2,872,410.3% in the 1st quarter. Jones Financial Companies Lllp now owns 833,028 shares of the construction company's stock valued at $268,510,000 after purchasing an additional 832,999 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Comfort Systems USA by 106.4% in the 1st quarter. AQR Capital Management LLC now owns 530,428 shares of the construction company's stock valued at $165,228,000 after purchasing an additional 273,453 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Comfort Systems USA by 36.4% in the 1st quarter. JPMorgan Chase & Co. now owns 519,437 shares of the construction company's stock valued at $167,430,000 after purchasing an additional 138,541 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Performance

Shares of NYSE FIX opened at $828.28 on Friday. The company's fifty day moving average price is $770.78 and its 200 day moving average price is $594.08. Comfort Systems USA, Inc. has a 1 year low of $276.44 and a 1 year high of $861.77. The company has a market capitalization of $29.22 billion, a PE ratio of 42.56 and a beta of 1.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Monday, August 15th. The construction company reported $0.90 earnings per share (EPS) for the quarter. The business had revenue of $713.90 million for the quarter. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. On average, research analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Thursday, November 13th will be issued a $0.60 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 13th. Comfort Systems USA's payout ratio is currently 10.28%.

Analyst Ratings Changes

A number of research firms recently commented on FIX. UBS Group increased their target price on shares of Comfort Systems USA from $710.00 to $875.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research report on Wednesday, October 8th. Northcoast Research cut shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. William Blair initiated coverage on shares of Comfort Systems USA in a report on Thursday, September 11th. They issued an "outperform" rating on the stock. Finally, Zacks Research downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $735.80.

Insider Activity at Comfort Systems USA

In other news, CAO Julie Shaeff sold 1,369 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $704.50, for a total value of $964,460.50. Following the completion of the sale, the chief accounting officer owned 16,023 shares of the company's stock, valued at $11,288,203.50. This represents a 7.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William George III sold 8,436 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $692.60, for a total value of $5,842,773.60. Following the completion of the transaction, the chief financial officer owned 47,473 shares of the company's stock, valued at $32,879,799.80. The trade was a 15.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,783 shares of company stock valued at $18,710,798 over the last ninety days. Corporate insiders own 1.59% of the company's stock.

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.

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