Comfort Systems USA, Inc. $FIX Shares Purchased by Geneva Partners LLC

Key Points

• Geneva Partners LLC increased its stake in Comfort Systems USA by 53.1% in the first quarter, bringing its holdings to 4,186 shares worth about $5.77 million.
• The company’s latest quarterly results were strong, with EPS of $10.51 beating estimates and revenue of $2.87 billion topping expectations, while revenue rose 56.5% year over year.
• Analysts remain mostly upbeat on FIX: the stock has a Moderate Buy consensus, with nine Buy ratings and an average target price of $1,991.50, even as insiders recently sold shares.

Geneva Partners LLC boosted its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 53.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,186 shares of the construction company's stock after purchasing an additional 1,451 shares during the period. Comfort Systems USA comprises approximately 2.8% of Geneva Partners LLC's portfolio, making the stock its 15th largest position. Geneva Partners LLC's holdings in Comfort Systems USA were worth $5,773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FIX. Prudential PLC purchased a new position in shares of Comfort Systems USA in the fourth quarter valued at approximately $6,922,000. Ethic Inc. lifted its holdings in Comfort Systems USA by 80.5% during the 4th quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock worth $1,565,000 after buying an additional 748 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Comfort Systems USA by 230.4% during the 4th quarter. BNP Paribas Financial Markets now owns 57,199 shares of the construction company's stock worth $53,383,000 after buying an additional 39,888 shares in the last quarter. Spire Wealth Management boosted its position in Comfort Systems USA by 658.1% in the 4th quarter. Spire Wealth Management now owns 5,390 shares of the construction company's stock valued at $5,031,000 after buying an additional 4,679 shares during the period. Finally, Moran Wealth Management LLC grew its stake in shares of Comfort Systems USA by 34.0% in the fourth quarter. Moran Wealth Management LLC now owns 28,357 shares of the construction company's stock worth $26,465,000 after acquiring an additional 7,192 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FIX shares. UBS Group increased their price objective on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Oppenheimer initiated coverage on Comfort Systems USA in a report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price target on the stock. Erste Group Bank assumed coverage on Comfort Systems USA in a research report on Friday, June 5th. They issued a "buy" rating on the stock. Zacks Research cut Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,991.50.

Insider Buying and Selling

In related news, insider Brian E. Lane sold 11,113 shares of Comfort Systems USA stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the sale, the insider directly owned 161,089 shares in the company, valued at $317,319,555.76. This trade represents a 6.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Sandbrook sold 1,500 shares of the firm's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $1,732.67, for a total value of $2,599,005.00. Following the transaction, the director directly owned 7,666 shares in the company, valued at approximately $13,282,648.22. The trade was a 16.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,778 shares of company stock valued at $59,746,124 over the last three months. 1.24% of the stock is currently owned by insiders.

Comfort Systems USA Stock Performance

Shares of FIX stock opened at $1,682.03 on Wednesday. The company has a market cap of $59.21 billion, a P/E ratio of 48.53 and a beta of 1.66. The firm has a fifty day moving average price of $1,884.14 and a 200 day moving average price of $1,500.61. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a 12 month low of $513.99 and a 12 month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The company 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%.Comfort Systems USA's revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.75 EPS. Sell-side analysts predict that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were paid a $0.80 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, May 15th. 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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