Comfort Systems USA, Inc. $FIX Shares Bought by Royal London Asset Management Ltd.

Key Points

• Royal London Asset Management increased its Comfort Systems USA stake by 2% in the second quarter to 141,047 shares valued at approximately $279.5 million. Institutional investors and hedge funds collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 beating estimates by $2.08 and revenue rising 50.3% year over year to $3.27 billion. The company also raised its quarterly dividend from $0.80 to $0.90 per share.
• FIX shares opened at $1,518.08 after a reported 6% decline, while analysts maintained a generally bullish outlook with a consensus “Buy” rating and an average price target of $2,082.86. Insiders sold 32,778 shares worth $56.3 million over the past three months.

Royal London Asset Management Ltd. grew its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,047 shares of the construction company's stock after acquiring an additional 2,791 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.40% of Comfort Systems USA worth $279,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in Comfort Systems USA in the second quarter worth $26,000. Avalon Trust Co bought a new stake in Comfort Systems USA during the second quarter valued at $32,000. Field & Main Bank acquired a new stake in shares of Comfort Systems USA during the second quarter worth $32,000. Carolina Wealth Advisors LLC raised its holdings in shares of Comfort Systems USA by 63.6% during the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock worth $36,000 after purchasing an additional 7 shares during the period. Finally, Kilter Group LLC bought a new position in shares of Comfort Systems USA in the 2nd quarter worth about $48,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Comfort Systems USA Stock Down 6.0%

FIX stock opened at $1,518.08 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. Comfort Systems USA, Inc. has a fifty-two week low of $670.19 and a fifty-two week high of $2,073.99. The firm's 50-day simple moving average is $1,747.26 and its 200 day simple moving average is $1,669.40. The stock has a market cap of $53.42 billion, a PE ratio of 37.34 and a beta of 1.69.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating the consensus estimate of $10.45 by $2.08. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the firm posted $6.53 EPS. Comfort Systems USA's quarterly revenue was up 50.3% compared to the same quarter last year. As a group, sell-side analysts predict that Comfort Systems USA, Inc. will post 47.2 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, August 13th. Comfort Systems USA's dividend payout ratio is presently 8.85%.

Analysts Set New Price Targets

Several research analysts have recently commented on FIX shares. The Goldman Sachs Group started coverage on shares of Comfort Systems USA in a report on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 price target for the company. Oppenheimer initiated coverage on shares of Comfort Systems USA in a report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price on the stock. UBS Group set a $2,100.00 target price on Comfort Systems USA in a report on Thursday, August 20th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Friday, July 17th. Finally, Erste Group Bank downgraded Comfort Systems USA from a "buy" rating to a "hold" rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Comfort Systems USA has an average rating of "Buy" and a consensus target price of $2,082.86.

Insider Buying and Selling

In other Comfort Systems USA news, insider Brian E. Lane sold 16,024 shares of Comfort Systems USA stock in a transaction 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 sale, the insider owned 145,065 shares of the company's stock, valued at $233,294,983.65. The trade was a 9.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William George III sold 2,554 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the transaction, the chief financial officer directly owned 30,250 shares of the company's stock, valued at approximately $56,254,412.50. The trade was a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,778 shares of company stock valued at $56,306,777 in the last three months. 1.24% of the stock is currently owned by corporate insiders.

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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