Skandinaviska Enskilda Banken AB publ Grows Position in Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• Skandinaviska Enskilda Banken AB publ significantly increased its stake in Comfort Systems USA by 2,275.0% during the first quarter, bringing its holdings to $857,000.
• Comfort Systems USA recently reported $6.53 earnings per share, surpassing estimates and achieving a 20.1% revenue increase compared to the previous year.
• The company declared a boosted quarterly dividend of $0.50 per share, up from $0.45, reflecting a payout ratio of 9.25%.

Skandinaviska Enskilda Banken AB publ raised its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 2,275.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,660 shares of the construction company's stock after acquiring an additional 2,548 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Comfort Systems USA were worth $857,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FIX. FMR LLC increased its holdings in Comfort Systems USA by 9.6% in the 4th quarter. FMR LLC now owns 1,697,035 shares of the construction company's stock worth $719,645,000 after acquiring an additional 148,493 shares in the last quarter. Geode Capital Management LLC grew its holdings in Comfort Systems USA by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 769,534 shares of the construction company's stock valued at $326,409,000 after buying an additional 21,406 shares in the last quarter. Federated Hermes Inc. grew its holdings in Comfort Systems USA by 12.4% during the 4th quarter. Federated Hermes Inc. now owns 467,838 shares of the construction company's stock valued at $198,391,000 after buying an additional 51,771 shares in the last quarter. First Trust Advisors LP grew its holdings in Comfort Systems USA by 29.5% during the 4th quarter. First Trust Advisors LP now owns 463,790 shares of the construction company's stock valued at $196,675,000 after buying an additional 105,756 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Comfort Systems USA by 191.2% during the 4th quarter. JPMorgan Chase & Co. now owns 380,896 shares of the construction company's stock valued at $161,523,000 after buying an additional 250,085 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

Insiders Place Their Bets

In other Comfort Systems USA news, Director Pablo G. Mercado sold 1,800 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $436.10, for a total value of $784,980.00. Following the sale, the director owned 7,236 shares in the company, valued at approximately $3,155,619.60. This represents a 19.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Darcy Anderson sold 8,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $506.82, for a total value of $4,054,560.00. Following the transaction, the director directly owned 26,535 shares of the company's stock, valued at approximately $13,448,468.70. The trade was a 23.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,700 shares of company stock worth $21,638,967. Corporate insiders own 1.59% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FIX shares. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Stifel Nicolaus raised their target price on shares of Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a report on Friday, July 11th. Northcoast Research downgraded Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday. UBS Group raised their price target on Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, DA Davidson raised their price target on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research report on Monday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Comfort Systems USA has an average rating of "Moderate Buy" and a consensus target price of $635.60.

Comfort Systems USA Stock Down 1.0%

Shares of FIX stock traded down $7.06 on Friday, hitting $696.24. The stock had a trading volume of 552,387 shares, compared to its average volume of 479,551. The business has a 50 day moving average price of $532.98 and a 200 day moving average price of $442.84. Comfort Systems USA, Inc. has a one year low of $272.92 and a one year high of $718.40. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. The company has a market cap of $24.56 billion, a PE ratio of 35.78 and a beta of 1.51.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm earned $3.74 earnings per share. The firm's quarterly revenue was up 20.1% compared to the same quarter last year. Research analysts anticipate that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Thursday, August 14th will be given a $0.50 dividend. The ex-dividend date is Thursday, August 14th. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's payout ratio is currently 9.25%.

Comfort Systems USA Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.