Mackenzie Financial Corp Increases Stock Position in Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• Mackenzie Financial Corp increased its stake in Comfort Systems USA by 37.0% during the first quarter, now owning a total of 6,001 shares worth approximately $1.93 million.
• The company reported $6.53 EPS for the latest quarter, significantly surpassing analysts' expectations of $4.84 and marking a 20.1% year-over-year revenue increase.
• Comfort Systems USA recently raised its quarterly dividend from $0.45 to $0.50 per share, with an annualized yield of 0.3%.

Mackenzie Financial Corp lifted its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 37.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,001 shares of the construction company's stock after buying an additional 1,620 shares during the quarter. Mackenzie Financial Corp's holdings in Comfort Systems USA were worth $1,934,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Comfort Systems USA by 13.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,556 shares of the construction company's stock worth $824,000 after buying an additional 296 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Comfort Systems USA by 27.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock worth $364,000 after purchasing an additional 239 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Comfort Systems USA by 97.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock worth $2,377,000 after purchasing an additional 3,644 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in Comfort Systems USA by 256.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 2,040 shares of the construction company's stock worth $658,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Spire Wealth Management raised its stake in Comfort Systems USA by 9.8% in the 1st quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock worth $324,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on FIX shares. DA Davidson lifted their price objective on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group lifted their price objective on shares of Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. 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. Finally, Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $635.60.

Comfort Systems USA Price Performance

Shares of Comfort Systems USA stock traded down $2.36 during midday trading on Wednesday, hitting $689.09. 301,674 shares of the company traded hands, compared to its average volume of 477,049. The stock has a market cap of $24.31 billion, a price-to-earnings ratio of 35.41 and a beta of 1.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The firm's fifty day moving average price is $546.12 and its 200-day moving average price is $446.72. Comfort Systems USA, Inc. has a 12 month low of $276.44 and a 12 month high of $718.40.

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 for the quarter, topping analysts' consensus estimates of $4.84 by $1.69. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the firm posted $3.74 EPS. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Thursday, August 14th will be given a $0.50 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. The ex-dividend date is Thursday, August 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. Comfort Systems USA's dividend payout ratio is presently 9.25%.

Insider Transactions at Comfort Systems USA

In related news, CFO William George III sold 12,500 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $470.11, for a total transaction of $5,876,375.00. Following the transaction, the chief financial officer owned 47,473 shares in the company, valued at $22,317,532.03. The trade was a 20.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Darcy Anderson sold 8,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $506.82, for a total transaction of $4,054,560.00. Following the transaction, the director directly owned 26,535 shares in the company, valued at approximately $13,448,468.70. This represents a 23.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,900 shares of company stock worth $13,084,107. Company insiders own 1.59% of the company's stock.

Comfort Systems USA Company 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.