Cibc World Market Inc. Makes New Investment in Comfort Systems USA, Inc. $FIX

Key Points

• CIBC World Market Inc. acquired 38,022 shares of Comfort Systems USA, valued at approximately $75.4 million, giving it a 0.11% stake. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA delivered strong quarterly results, with EPS of $12.53 and revenue of $3.27 billion, exceeding analyst estimates and representing 50.3% year-over-year revenue growth.
• The company raised its quarterly dividend from $0.80 to $0.90 per share. Analysts maintain a consensus “Buy” rating with an average price target of $2,082.86, while insiders have sold roughly $31.2 million of stock over the past 90 days.

Cibc World Market Inc. purchased a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 38,022 shares of the construction company's stock, valued at approximately $75,358,000. Cibc World Market Inc. owned 0.11% of Comfort Systems USA at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 625,567 shares during the period. BlackRock Inc. acquired a new stake in Comfort Systems USA in the 2nd quarter valued at approximately $6,734,037,000. State Street Corp raised its stake in Comfort Systems USA by 35.6% during 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 acquiring an additional 375,118 shares in the last quarter. Geode Capital Management LLC raised its stake in Comfort Systems USA by 39.0% during 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 acquiring an additional 332,441 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Comfort Systems USA by 7.4% during the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock worth $878,454,000 after acquiring an additional 73,727 shares during the period. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

FIX opened at $1,658.28 on Monday. The business has a 50 day moving average price of $1,783.64 and a two-hundred day moving average price of $1,658.46. 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 capitalization of $58.35 billion, a price-to-earnings ratio of 40.78 and a beta of 1.69. Comfort Systems USA, Inc. has a 1-year low of $670.19 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.45 by $2.08. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The company had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same period last year, the firm earned $6.53 EPS. The firm's revenue for the quarter was up 50.3% on a year-over-year basis. Research analysts predict that Comfort Systems USA, Inc. will post 46.77 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Thursday, August 13th will be paid a dividend of $0.90 per share. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, August 13th. Comfort Systems USA's dividend payout ratio (DPR) is 8.85%.

Insider Activity at Comfort Systems USA

In related news, Director Rhoman J. Hardy sold 342 shares of Comfort Systems USA stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the transaction, the director directly owned 1,890 shares of the company's stock, valued at $3,591,151.20. The trade was a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franklin Myers sold 6,700 shares of the business's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the completion of the sale, the director owned 62,115 shares in the company, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,096 shares of company stock valued at $31,186,647 over the last 90 days. 1.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group set a $2,100.00 price target on Comfort Systems USA in a research note on Thursday. KeyCorp lifted their price objective on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Finally, Oppenheimer started coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $2,082.86.

Comfort Systems USA Profile

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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