Encompass More Asset Management Increases Stake in Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• Encompass More Asset Management increased its stake in Comfort Systems USA by 86.3%, acquiring an additional 973 shares, bringing its total holdings to 2,100 shares valued at $677,000.
• Comfort Systems USA reported $6.53 EPS for the quarter, significantly exceeding analyst estimates, with a year-over-year revenue increase of 20.1% to $2.17 billion.
• The company declared a quarterly dividend of $0.50 per share, reflecting a positive increase from its previous dividend of $0.45, with a current payout ratio of 9.25%.

Encompass More Asset Management raised its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 86.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,100 shares of the construction company's stock after acquiring an additional 973 shares during the quarter. Encompass More Asset Management's holdings in Comfort Systems USA were worth $677,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Westfield Capital Management Co. LP grew its stake in shares of Comfort Systems USA by 0.5% in the first quarter. Westfield Capital Management Co. LP now owns 889,639 shares of the construction company's stock valued at $286,757,000 after buying an additional 4,512 shares in the last quarter. Bank of Nova Scotia acquired a new stake in shares of Comfort Systems USA during the 1st quarter worth approximately $5,452,000. R Squared Ltd raised its position in shares of Comfort Systems USA by 44.4% during the 1st quarter. R Squared Ltd now owns 780 shares of the construction company's stock worth $251,000 after purchasing an additional 240 shares during the period. Blueshift Asset Management LLC increased its position in Comfort Systems USA by 19.4% in the 1st quarter. Blueshift Asset Management LLC now owns 1,030 shares of the construction company's stock valued at $332,000 after acquiring an additional 167 shares during the period. Finally, Moors & Cabot Inc. increased its position in Comfort Systems USA by 124.8% in the 1st quarter. Moors & Cabot Inc. now owns 1,659 shares of the construction company's stock valued at $535,000 after acquiring an additional 921 shares during the period. 96.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. DA Davidson raised their price objective on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Stifel Nicolaus raised their target price on Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wall Street Zen upgraded Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group lifted their target price on Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Northcoast Research cut shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $635.60.

Insider Activity at Comfort Systems USA

In related news, CFO William George III sold 12,500 shares of Comfort Systems USA stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $470.11, for a total value 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. This trade represents a 20.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Darcy Anderson sold 8,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $506.82, for a total transaction of $4,054,560.00. Following the completion of the transaction, the director owned 26,535 shares in the company, valued at $13,448,468.70. The trade was a 23.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,900 shares of company stock worth $13,084,107. 1.59% of the stock is owned by corporate insiders.

Comfort Systems USA Price Performance

Comfort Systems USA stock traded up $4.56 during mid-day trading on Thursday, reaching $695.01. The company had a trading volume of 256,817 shares, compared to its average volume of 434,141. The company has a market cap of $24.52 billion, a P/E ratio of 35.71 and a beta of 1.49. The business has a fifty day simple moving average of $554.70 and a 200 day simple moving average of $449.70. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. Comfort Systems USA, Inc. has a fifty-two week low of $276.44 and a fifty-two week high of $718.40.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $4.84 by $1.69. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The business's revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.74 earnings per share. On average, equities research analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

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

Comfort Systems USA 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.