Comfort Systems USA, Inc. $FIX Stock: International Assets Investment Management LLC Boosts Holdings

Key Points

• International Assets Investment Management increased its Comfort Systems USA stake by 25,900.6% in the third quarter, owning 45,501 shares valued at approximately $75.3 million. Institutional investors collectively hold 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with earnings of $13.91 per share and revenue of $3.77 billion, exceeding analyst expectations; revenue rose 53.7% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $1,916.14, despite several target-price reductions. The company also cut its quarterly dividend to $0.10 per share from $0.90.

International Assets Investment Management LLC raised its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 25,900.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,501 shares of the construction company's stock after purchasing an additional 45,326 shares during the quarter. International Assets Investment Management LLC owned 0.13% of Comfort Systems USA worth $75,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in shares of Comfort Systems USA during the second quarter worth $26,000. Glynn Capital Management LLC grew its stake in shares of Comfort Systems USA by 58.3% in the third quarter. Glynn Capital Management LLC now owns 19 shares of the construction company's stock valued at $31,000 after buying an additional 7 shares in the last quarter. Avalon Trust Co acquired a new stake in shares of Comfort Systems USA in the second quarter valued at $32,000. Field & Main Bank acquired a new stake in shares of Comfort Systems USA in the second quarter valued at $32,000. Finally, Nvwm LLC purchased a new stake in shares of Comfort Systems USA in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

NYSE:FIX opened at $1,227.74 on Friday. The company has a fifty day simple moving average of $1,561.25 and a two-hundred day simple moving average of $1,597.15. The company has a market cap of $42.96 billion, a price-to-earnings ratio of 26.51 and a beta of 1.66. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a 52 week low of $841.66 and a 52 week high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The construction company reported $13.91 earnings per share for the quarter, topping analysts' consensus estimates of $12.85 by $1.06. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.40 billion. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. The company's revenue was up 53.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.25 earnings per share. As a group, equities analysts anticipate that Comfort Systems USA, Inc. will post 50.32 earnings per share for the current fiscal year.

Comfort Systems USA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, November 12th. This is a decrease from Comfort Systems USA's previous quarterly dividend of $0.90. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.0%. Comfort Systems USA's payout ratio is presently 7.77%.

Insider Buying and Selling

In other Comfort Systems USA news, CFO William George, III sold 2,554 shares of the firm's 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 sale, the chief financial officer directly owned 30,250 shares in the company, valued at $56,254,412.50. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Franklin Myers sold 4,000 shares of Comfort Systems USA stock in a transaction dated 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 trade represents a 32.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 26,078 shares of company stock worth $43,211,828. Corporate insiders own 1.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group decreased their target price on Comfort Systems USA from $2,225.00 to $1,900.00 and set a "buy" rating on the stock in a research note on Monday. Oppenheimer dropped their target price on Comfort Systems USA from $2,400.00 to $2,000.00 and set an "outperform" rating for the company in a research report on Monday, October 26th. DA Davidson set a $1,850.00 target price on Comfort Systems USA in a research report on Monday. Stifel Nicolaus set a $1,808.00 price target on shares of Comfort Systems USA in a research note on Monday. Finally, Erste Group Bank cut shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,916.14.

About Comfort Systems USA

Comfort Systems USA, Inc NYSE: FIX is a provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. The company designs, installs, maintains, repairs, and replaces heating, ventilation, air conditioning, and temperature-control systems, as well as plumbing, piping, electrical, and related building systems.

Its services support new construction, building renovations, facility upgrades, and ongoing maintenance. Comfort Systems USA also provides specialized services for data centers, manufacturing facilities, healthcare buildings, educational institutions, and other complex commercial and industrial projects.

Founded in 1997 and headquartered in Houston, Texas, the company operates through a network of regional contracting businesses serving customers across the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.