Creek Drive Management Group LLC Invests $1.54 Million in Comfort Systems USA, Inc. $FIX

Key Points

• Creek Drive Management Group opened a new position in Comfort Systems USA, buying 1,650 shares worth about $1.54 million. The stake represents roughly 1.1% of the fund’s portfolio.
• Comfort Systems USA reported strong quarterly results, posting EPS of $10.51 versus the $6.81 estimate and revenue of $2.87 billion versus $2.39 billion expected. Revenue jumped 56.5% year over year, and analysts now expect full-year EPS of 43.39.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain broadly positive with a consensus Buy rating and a price target around $1,991.50.

Creek Drive Management Group LLC acquired a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,650 shares of the construction company's stock, valued at approximately $1,540,000. Comfort Systems USA accounts for approximately 1.1% of Creek Drive Management Group LLC's portfolio, making the stock its 28th largest holding.

Several other large investors also recently modified their holdings of FIX. Vanguard Group Inc. grew its stake in shares of Comfort Systems USA by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock valued at $4,022,597,000 after purchasing an additional 625,567 shares during the period. State Street Corp lifted its stake in shares of Comfort Systems USA by 35.6% in the 4th quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock worth $1,333,367,000 after purchasing an additional 375,118 shares during the period. Geode Capital Management LLC lifted its stake in shares of Comfort Systems USA by 39.0% in the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock worth $1,103,453,000 after purchasing an additional 332,441 shares during the period. Invesco Ltd. boosted its holdings in shares of Comfort Systems USA by 7.4% in the third quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock worth $878,454,000 after buying an additional 73,727 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Comfort Systems USA by 22.1% in the fourth quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company's stock worth $951,883,000 after buying an additional 184,362 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Up 0.2%

Comfort Systems USA stock opened at $1,971.17 on Friday. Comfort Systems USA, Inc. has a 12-month low of $489.98 and a 12-month high of $2,073.99. The firm has a market capitalization of $69.39 billion, a price-to-earnings ratio of 56.87 and a beta of 1.65. The firm has a 50 day moving average of $1,831.99 and a 200 day moving average of $1,420.84. 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 (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, beating the consensus estimate of $6.81 by $3.70. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The company's revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.75 earnings per share. As a group, research analysts predict that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were paid a dividend of $0.80 per share. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, CAO Julie Shaeff sold 1,123 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the completion of the sale, the chief accounting officer owned 12,624 shares in the company, valued at approximately $25,252,670.88. This represents a 8.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Franklin Myers sold 4,500 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $1,902.57, for a total value of $8,561,565.00. Following the sale, the director directly owned 68,983 shares in the company, valued at approximately $131,244,986.31. This represents a 6.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 24,078 shares of company stock worth $46,651,175 in the last 90 days. Company insiders own 1.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on FIX. DA Davidson upped their target price on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Erste Group Bank started coverage on shares of Comfort Systems USA in a research report on Friday, June 5th. They issued a "buy" rating on the stock. KeyCorp upgraded shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target on the stock in a research note on Friday, April 24th. Glj Research initiated coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective for the company. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $1,991.50.

About Comfort Systems USA

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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