DNB Asset Management AS Boosts Position in Comfort Systems USA, Inc. $FIX

Key Points

• DNB Asset Management AS significantly increased its stake in Comfort Systems USA, boosting holdings by 241.9% in the fourth quarter to 10,096 shares worth about $9.4 million.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 beating estimates by $3.70 and revenue of $2.87 billion topping forecasts; revenue rose 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain broadly positive with an average rating of Moderate Buy and a target price of $1,923.20.

DNB Asset Management AS boosted its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 241.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,096 shares of the construction company's stock after buying an additional 7,143 shares during the quarter. DNB Asset Management AS's holdings in Comfort Systems USA were worth $9,422,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FIX. NewEdge Advisors LLC raised its position in Comfort Systems USA by 41.1% during the 1st quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company's stock worth $1,100,000 after buying an additional 993 shares during the last quarter. Focus Partners Wealth raised its position in Comfort Systems USA by 110.6% during the 1st quarter. Focus Partners Wealth now owns 2,300 shares of the construction company's stock worth $741,000 after buying an additional 1,208 shares during the last quarter. Sivia Capital Partners LLC raised its position in Comfort Systems USA by 40.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company's stock worth $579,000 after buying an additional 313 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Comfort Systems USA during the 2nd quarter valued at about $567,000. Finally, Sei Investments Co. raised its stake in shares of Comfort Systems USA by 69.2% during the 2nd quarter. Sei Investments Co. now owns 43,631 shares of the construction company's stock valued at $23,395,000 after buying an additional 17,839 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FIX has been the subject of a number of recent research reports. Zacks Research lowered Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. UBS Group lifted their price objective on Comfort Systems USA from $1,680.00 to $1,992.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. DA Davidson lifted their price objective on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Finally, Wall Street Zen lowered Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,923.20.

Comfort Systems USA Price Performance

NYSE:FIX opened at $1,994.37 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market cap of $70.20 billion, a price-to-earnings ratio of 57.54 and a beta of 1.70. The company has a 50 day moving average price of $1,599.07 and a 200-day moving average price of $1,263.40. Comfort Systems USA, Inc. has a 1-year low of $452.04 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its 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 firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business's quarterly revenue was up 56.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.75 EPS. Equities research analysts forecast that Comfort Systems USA, Inc. will post 43.17 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 15th will be paid a $0.80 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio (DPR) is presently 9.23%.

Insider Transactions at Comfort Systems USA

In related news, Director Darcy Anderson sold 4,500 shares of Comfort Systems USA stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $1,369.74, for a total value of $6,163,830.00. Following the completion of the transaction, the director owned 18,035 shares in the company, valued at $24,703,260.90. The trade was a 19.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William George III sold 9,000 shares of Comfort Systems USA stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $1,434.97, for a total value of $12,914,730.00. Following the completion of the transaction, the chief financial officer owned 37,824 shares of the company's stock, valued at approximately $54,276,305.28. This represents a 19.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,024 shares of company stock worth $99,678,386 over the last quarter. Company insiders own 1.24% of the company's stock.

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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