Comfort Systems USA, Inc. $FIX Shares Purchased by Artemis Investment Management LLP

Key Points

• Artemis Investment Management increased its Comfort Systems USA stake by 232% in the third quarter, acquiring 45,363 additional shares and ending with 64,919 shares valued at approximately $107.4 million. Institutional investors collectively own 96.51% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $2,082.86.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 and revenue of $3.27 billion, up 50.3% year over year. The company also raised its quarterly dividend to $0.90 per share, while insiders sold more than $43.2 million of stock over the past 90 days.

Artemis Investment Management LLP grew its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 232.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,919 shares of the construction company's stock after purchasing an additional 45,363 shares during the period. Artemis Investment Management LLP owned 0.18% of Comfort Systems USA worth $107,382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FIX. Simplicity Wealth LLC bought a new stake in shares of Comfort Systems USA in the second quarter worth $601,000. New York State Teachers Retirement System grew its holdings in Comfort Systems USA by 2.7% during the first quarter. New York State Teachers Retirement System now owns 30,665 shares of the construction company's stock worth $42,287,000 after purchasing an additional 800 shares during the period. Argent Capital Management LLC boosted its stake in shares of Comfort Systems USA by 20.8% during the 1st quarter. Argent Capital Management LLC now owns 6,985 shares of the construction company's stock worth $9,632,000 after acquiring an additional 1,202 shares during the period. Storgate LLC acquired a new position in shares of Comfort Systems USA in the fourth quarter valued at $644,000. Finally, Compass Financial Management LLC acquired a new position in Comfort Systems USA in the 2nd quarter valued at about $2,238,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FIX has been the subject of a number of analyst reports. DA Davidson began coverage on shares of Comfort Systems USA in a research report on Friday, August 21st. They issued a "buy" rating and a $2,100.00 price target for the company. Stifel Nicolaus set a $1,910.00 price objective on shares of Comfort Systems USA in a research report on Monday, July 27th. Erste Group Bank downgraded Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. UBS Group reiterated a "buy" rating on shares of Comfort Systems USA in a report on Tuesday, September 15th. Finally, The Goldman Sachs Group assumed coverage on Comfort Systems USA in a report on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,082.86.

Comfort Systems USA Stock Performance

Shares of FIX stock traded down $66.37 on Thursday, hitting $1,674.99. 120,536 shares of the stock were exchanged, compared to its average volume of 431,031. The firm has a market capitalization of $58.94 billion, a PE ratio of 41.23 and a beta of 1.66. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The firm's 50 day moving average is $1,662.46 and its two-hundred day moving average is $1,721.84. Comfort Systems USA, Inc. has a one year low of $770.47 and a one year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share (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 company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company posted $6.53 EPS. The firm's revenue for the quarter was up 50.3% compared to the same quarter last year. Sell-side analysts expect that Comfort Systems USA, Inc. will post 48.15 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Insider Activity

In related news, Director Franklin Myers sold 4,000 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the sale, the director directly owned 8,495 shares of the company's stock, valued at $14,389,850.40. This represents a 32.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William George, III sold 2,554 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 30,250 shares in the company, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,078 shares of company stock valued at $43,211,828. Insiders own 1.24% of the company's stock.

About Comfort Systems USA

Comfort Systems USA, Inc NYSE: FIX provides mechanical, electrical, and other contracting services for commercial, industrial, and institutional customers. Its work supports the construction, renovation, and ongoing operation of facilities such as office buildings, hospitals, schools, data centers, manufacturing plants, and other complex infrastructure.

The company's services include heating, ventilation, and air conditioning; plumbing and piping; electrical contracting; building automation and controls; and related specialty services.

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