Concurrent Investment Advisors LLC Buys 2,815 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Concurrent Investment Advisors increased its Comfort Systems USA stake by 304% in the second quarter, purchasing 2,815 additional shares for a total of 3,741 shares. Institutional investors collectively own 96.51% of the company.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $2,082.86; individual targets range from $1,910 to $2,200.
• Comfort Systems USA beat quarterly earnings and revenue expectations, reporting $12.53 in EPS and $3.27 billion in revenue, while revenue rose 50.3% year over year. The company also raised its quarterly dividend to $0.90 per share.

Concurrent Investment Advisors LLC boosted its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 304.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,741 shares of the construction company's stock after buying an additional 2,815 shares during the period. Concurrent Investment Advisors LLC's holdings in Comfort Systems USA were worth $7,414,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Comfort Systems USA in the 2nd quarter worth approximately $6,734,037,000. Norges Bank purchased a new position in shares of Comfort Systems USA in the 4th quarter valued at approximately $469,606,000. State Street Corp boosted its position in shares of Comfort Systems USA by 35.6% during the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock valued at $1,333,367,000 after purchasing an additional 375,118 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Comfort Systems USA by 39.0% during the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after purchasing an additional 332,441 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Comfort Systems USA by 37,987.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company's stock worth $289,349,000 after purchasing an additional 309,217 shares during the period. 96.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on FIX. Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. DA Davidson assumed coverage on shares of Comfort Systems USA in a report on Friday, August 21st. They set a "buy" rating and a $2,100.00 target price on the stock. Oppenheimer began coverage on shares of Comfort Systems USA in a research report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price on the stock. UBS Group set a $2,100.00 price target on shares of Comfort Systems USA in a research note on Thursday, August 20th. Finally, Stifel Nicolaus set a $1,910.00 price target on shares of Comfort Systems USA in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $2,082.86.

Comfort Systems USA Stock Performance

Comfort Systems USA stock opened at $1,611.87 on Friday. Comfort Systems USA, Inc. has a twelve month low of $682.00 and a twelve month high of $2,073.99. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $56.72 billion, a P/E ratio of 39.64 and a beta of 1.67. The stock's 50 day moving average is $1,708.39 and its 200 day moving average is $1,678.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced 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 business had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter in the previous year, the business earned $6.53 earnings per share. The firm's quarterly revenue was up 50.3% compared to the same quarter last year. On average, equities research analysts predict that Comfort Systems USA, Inc. will post 47.2 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 Monday, August 24th. Stockholders of record on Thursday, August 13th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $3.60 annualized dividend and a dividend yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. Comfort Systems USA's payout ratio is presently 8.85%.

Insider Transactions at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the completion of the sale, the director directly owned 62,115 shares in the company, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William George, III sold 2,554 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the sale, the chief financial officer owned 30,250 shares of the company's stock, 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. Insiders sold a total of 32,778 shares of company stock valued at $56,306,777 in the last quarter. 1.24% of the stock is owned by insiders.

Comfort Systems USA Company 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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