Comfort Systems USA, Inc. $FIX Shares Acquired by California State Teachers Retirement System

Key Points

• Institutional ownership surged: California State Teachers Retirement System reported acquiring more than 102.9 million additional Comfort Systems USA shares in the second quarter, though the disclosed ownership figures appear inconsistent. Institutional investors collectively own 96.51% of the company.
• Insiders sold shares: Company insider Brian E. Lane and CFO William George III sold shares worth approximately $25.8 million and $4.7 million, respectively. Insiders have sold $56.3 million worth of stock over the past three months.
• Analyst sentiment remains positive: The stock has a consensus “Buy” rating and an average price target of $2,082.86. Comfort Systems USA also reported stronger-than-expected quarterly earnings and revenue, while raising its quarterly dividend to $0.90 per share.

California State Teachers Retirement System lifted its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 189,725.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,029,689 shares of the construction company's stock after purchasing an additional 102,975,413 shares during the quarter. California State Teachers Retirement System owned about 292.78% of Comfort Systems USA worth $204,199,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FIX. Jones Financial Companies Lllp purchased a new stake in shares of Comfort Systems USA in the 2nd quarter valued at $26,000. Core Wealth Advisors LLC purchased a new position in shares of Comfort Systems USA during the fourth quarter worth $28,000. Avalon Trust Co purchased a new position in shares of Comfort Systems USA during the second quarter worth $32,000. Field & Main Bank acquired a new position in Comfort Systems USA during the second quarter valued at $32,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Comfort Systems USA during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 96.51% of the company's stock.

Insider Buying and Selling at Comfort Systems USA

In other news, insider Brian E. Lane sold 16,024 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the transaction, the insider owned 145,065 shares in the company, valued at $233,294,983.65. This trade represents a 9.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO William George, III sold 2,554 shares of Comfort Systems USA stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the sale, the chief financial officer directly owned 30,250 shares in the company, valued at $56,254,412.50. This represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,778 shares of company stock valued at $56,306,777. Company insiders own 1.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on FIX shares. Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research note on Friday, July 17th. UBS Group set a $2,100.00 target price on Comfort Systems USA in a report on Thursday, August 20th. KeyCorp lifted their price target on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $2,082.86.

Comfort Systems USA Trading Up 0.1%

Shares of Comfort Systems USA stock opened at $1,611.87 on Monday. The firm has a 50-day simple moving average of $1,708.39 and a two-hundred day simple moving average of $1,681.05. The company has a market cap of $56.72 billion, a P/E ratio of 39.64 and a beta of 1.67. Comfort Systems USA, Inc. has a fifty-two week low of $682.00 and a fifty-two week high of $2,073.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, beating analysts' consensus estimates 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 firm 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 company's quarterly revenue was up 50.3% on a year-over-year basis. As a group, equities analysts predict that Comfort Systems USA, Inc. will post 47.2 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were given 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 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, August 13th. Comfort Systems USA's dividend payout ratio (DPR) is currently 8.85%.

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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