Comfort Systems USA, Inc. $FIX Shares Bought by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA increased its stake in Comfort Systems USA by 19% in the first quarter, buying 573 more shares and bringing its total to 3,583 shares worth about $4.94 million.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 and revenue of $2.87 billion, both well above analyst expectations. Revenue also surged 56.5% from a year earlier.
• The company raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain broadly positive with a consensus Buy rating and an average target price near $1,991.50.

Union Bancaire Privee UBP SA lifted its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 19.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,583 shares of the construction company's stock after buying an additional 573 shares during the period. Union Bancaire Privee UBP SA's holdings in Comfort Systems USA were worth $4,941,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Comfort Systems USA by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after acquiring an additional 625,567 shares in the last quarter. Norges Bank acquired a new stake in Comfort Systems USA in the 4th quarter valued at about $469,606,000. State Street Corp boosted its position in shares of 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 purchasing an additional 375,118 shares in the last quarter. Geode Capital Management LLC grew its stake 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 worth $1,103,453,000 after purchasing an additional 332,441 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Comfort Systems USA by 37,987.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company's stock worth $289,349,000 after purchasing an additional 309,217 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Stock Down 7.9%

FIX stock opened at $1,857.84 on Friday. Comfort Systems USA, Inc. has a 52-week low of $510.00 and a 52-week high of $2,073.99. The company's 50 day simple moving average is $1,865.99 and its 200-day simple moving average is $1,455.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market capitalization of $65.40 billion, a P/E ratio of 53.60 and a beta of 1.65.

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, topping analysts' consensus estimates of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the business posted $4.75 EPS. The company's revenue was up 56.5% on a year-over-year basis. As a group, equities research analysts anticipate that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared 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. 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%. The ex-dividend date was Friday, May 15th. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Insider Buying and Selling

In related news, Director William J. Sandbrook sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total transaction of $2,599,005.00. Following the completion of the sale, the director directly owned 7,666 shares in the company, valued at approximately $13,282,648.22. This trade represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Julie Shaeff sold 1,123 shares of the company's stock in a transaction that occurred on 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,778 shares of company stock worth $59,746,124 over the last ninety days. 1.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FIX shares. 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. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Glj Research assumed coverage on Comfort Systems USA in a report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target on the stock. Stifel Nicolaus increased their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Finally, Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 25th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $1,991.50.

Comfort Systems USA Company 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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