Chicago Partners Investment Group LLC Boosts Position in Comfort Systems USA, Inc. $FIX

Key Points

• Chicago Partners Investment Group increased its stake in Comfort Systems USA by 46.7% in the first quarter, buying 703 more shares and bringing its total to 2,207 shares worth about $3.0 million.
• Insider selling has been notable, with CAO Julie Shaeff and insider Brian E. Lane both reducing their holdings; over the last 90 days, insiders sold 30,778 shares valued at about $59.7 million.
• Comfort Systems USA posted strong results, reporting quarterly EPS of $10.51 on revenue of $2.87 billion, both well above estimates, and it also raised its quarterly dividend to $0.80 from $0.70.

Chicago Partners Investment Group LLC boosted its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 46.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,207 shares of the construction company's stock after purchasing an additional 703 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Comfort Systems USA were worth $3,043,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Comfort Systems USA by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after purchasing an additional 625,567 shares in the last quarter. Norges Bank acquired a new position in shares of Comfort Systems USA in the 4th quarter valued at $469,606,000. State Street Corp boosted its holdings in shares of Comfort Systems USA by 35.6% in the 4th quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock valued at $1,333,367,000 after buying an additional 375,118 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Comfort Systems USA by 39.0% in the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after buying an additional 332,441 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Comfort Systems USA by 37,987.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company's stock worth $289,349,000 after acquiring an additional 309,217 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Julie Shaeff sold 1,123 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the completion of the sale, the chief accounting officer owned 12,624 shares in the company, valued at approximately $25,252,670.88. This represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian E. Lane sold 11,113 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the transaction, the insider directly owned 161,089 shares in the company, valued at approximately $317,319,555.76. This represents a 6.45% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 30,778 shares of company stock valued at $59,746,124. 1.24% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Erste Group Bank began coverage on shares of Comfort Systems USA in a research report on Friday, June 5th. They issued a "buy" rating for the company. The Goldman Sachs Group initiated coverage on Comfort Systems USA in a research report on Thursday. They set a "buy" rating and a $2,159.00 target price on the stock. UBS Group boosted their target price on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a "buy" rating in a report on Monday, June 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Finally, Zacks Research cut Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 26th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,015.43.

Comfort Systems USA Stock Performance

Shares of Comfort Systems USA stock opened at $1,730.63 on Tuesday. The firm's fifty day simple moving average is $1,881.53 and its 200-day simple moving average is $1,522.98. The stock has a market capitalization of $60.92 billion, a price-to-earnings ratio of 49.93 and a beta of 1.66. Comfort Systems USA, Inc. has a 12 month low of $513.99 and a 12 month high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, beating the consensus estimate of $6.81 by $3.70. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. Comfort Systems USA's revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.75 EPS. As a group, equities analysts forecast that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were paid a $0.80 dividend. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, May 15th. Comfort Systems USA's dividend payout ratio (DPR) is presently 9.23%.

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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