Cvfg LLC Purchases Shares of 1,910 Comfort Systems USA, Inc. $FIX

Key Points

• Cvfg LLC disclosed a new first-quarter stake in Comfort Systems USA, buying 1,910 shares valued at about $2.63 million.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 beating estimates and revenue of $2.87 billion topping expectations, while revenue rose 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, even as the stock fell 6.2% and insiders recently sold shares.

Cvfg LLC acquired a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,910 shares of the construction company's stock, valued at approximately $2,634,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Comfort Systems USA by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after acquiring an additional 625,567 shares during the period. State Street Corp lifted its holdings in Comfort Systems USA by 35.6% during 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 last quarter. Geode Capital Management LLC boosted its stake in 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 valued at $1,103,453,000 after purchasing an additional 332,441 shares during the period. Invesco Ltd. boosted its stake in Comfort Systems USA by 7.4% in the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock valued at $878,454,000 after purchasing an additional 73,727 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Comfort Systems USA by 22.1% in the 4th quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company's stock valued at $951,883,000 after buying an additional 184,362 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Down 6.2%

NYSE FIX opened at $1,682.03 on Wednesday. The business has a fifty day moving average price of $1,884.14 and a two-hundred day moving average price of $1,500.61. The stock has a market capitalization of $59.21 billion, a PE ratio of 48.53 and a beta of 1.66. Comfort Systems USA, Inc. has a fifty-two week low of $513.99 and a fifty-two week high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The company had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.Comfort Systems USA's revenue was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.75 EPS. Equities analysts expect that Comfort Systems USA, Inc. will post 43.39 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 Tuesday, May 26th. Investors of record on Friday, May 15th were issued a dividend of $0.80 per share. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's payout ratio is presently 9.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer started coverage on Comfort Systems USA in a report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 target price for the company. Zacks Research lowered shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 26th. KeyCorp upgraded Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target for the company in a research note on Friday, April 24th. UBS Group raised their price objective on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Finally, Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Nine equities 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,991.50.

Insider Buying and Selling at Comfort Systems USA

In related news, CFO William George III sold 4,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,948.17, for a total value of $7,792,680.00. Following the completion of the transaction, the chief financial officer owned 33,804 shares of the company's stock, valued at $65,855,938.68. This represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William J. Sandbrook sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total transaction of $2,599,005.00. Following the completion of the sale, the director owned 7,666 shares in the company, valued at $13,282,648.22. This represents a 16.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,778 shares of company stock worth $59,746,124 over the last 90 days. 1.24% of the stock is owned by corporate insiders.

Comfort Systems USA 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.

Want to see what other hedge funds are holding FIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comfort Systems USA, Inc. (NYSE:FIX - Free Report).

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.