Comfort Systems USA, Inc. $FIX Shares Bought by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System increased its stake in Comfort Systems USA by 17.8% in the first quarter, buying 11,829 more shares and bringing its total to 78,113 shares worth about $107.7 million.
• Recent analyst coverage remains constructive, with nine Buy ratings and three Hold ratings; the consensus target price is $2,015.43, and several firms recently raised or initiated positive price targets.
• Comfort Systems USA posted strong quarterly results, with EPS of $10.51 and revenue of $2.87 billion, both well above estimates, and it also raised its quarterly dividend to $0.80 per share from $0.70.

California Public Employees Retirement System boosted its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 17.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,113 shares of the construction company's stock after purchasing an additional 11,829 shares during the quarter. California Public Employees Retirement System owned approximately 0.22% of Comfort Systems USA worth $107,717,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Core Wealth Advisors LLC acquired a new position in shares of Comfort Systems USA during the 4th quarter worth approximately $28,000. Kemnay Advisory Services Inc. purchased a new position in shares of Comfort Systems USA during the 4th quarter valued at approximately $33,000. Farmers & Merchants Investments Inc. grew its stake in Comfort Systems USA by 29.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after acquiring an additional 9 shares during the period. JFS Wealth Advisors LLC grew its stake in Comfort Systems USA by 29.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after acquiring an additional 10 shares during the period. Finally, ORG Partners LLC increased its holdings in Comfort Systems USA by 63.0% in the 4th quarter. ORG Partners LLC now owns 44 shares of the construction company's stock worth $41,000 after acquiring an additional 17 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FIX has been the subject of a number of research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Glj Research started coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 target price on the stock. Oppenheimer initiated 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 for the company. UBS Group upped their price target on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Finally, Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,015.43.

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 value of $2,246,415.51. Following the completion of the sale, the chief accounting officer directly owned 12,624 shares in the company, valued at $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 available at this link. Also, CFO William George III sold 1,000 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the completion of the transaction, the chief financial officer directly owned 32,804 shares in the company, valued at approximately $66,295,571.84. This represents a 2.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 30,778 shares of company stock valued at $59,746,124. Corporate insiders own 1.24% of the company's stock.

Comfort Systems USA Stock Performance

Shares of NYSE:FIX opened at $1,667.28 on Friday. 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, Inc. has a 1 year low of $513.99 and a 1 year high of $2,073.99. The firm has a market capitalization of $58.69 billion, a PE ratio of 48.10 and a beta of 1.66. The business's 50 day moving average price is $1,861.34 and its 200-day moving average price is $1,540.19.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 51.69% and a net margin of 12.07%.The firm's revenue was up 56.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.75 EPS. As a group, equities research analysts expect that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA's payout ratio is currently 9.23%.

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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