Engle Capital Management L.P. Makes New $7 Million Investment in Comfort Systems USA, Inc. $FIX

Key Points

• Engle Capital Management opened a new position in Comfort Systems USA, buying 7,500 shares valued at about $7 million. The stake makes FIX the fund’s 13th-largest holding and about 2.7% of its portfolio.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 topping estimates by $3.70 and revenue of $2.87 billion beating expectations. Revenue also jumped 56.5% year over year.
• The company raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain broadly positive with a consensus Buy rating and an average price target of $1,991.50.

Engle Capital Management L.P. bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,500 shares of the construction company's stock, valued at approximately $7,000,000. Comfort Systems USA makes up 2.7% of Engle Capital Management L.P.'s investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FIX. Ameriflex Group Inc. grew its position in shares of Comfort Systems USA by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock worth $25,000 after purchasing an additional 15 shares in the last quarter. Core Wealth Advisors LLC acquired a new position in shares of Comfort Systems USA during the 4th quarter worth approximately $28,000. Kemnay Advisory Services Inc. acquired a new position in shares of Comfort Systems USA during the 4th quarter worth approximately $33,000. Farmers & Merchants Investments Inc. grew its position in shares of Comfort Systems USA by 29.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock worth $37,000 after purchasing an additional 9 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Price Performance

Comfort Systems USA stock opened at $1,932.05 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. Comfort Systems USA, Inc. has a 52 week low of $489.98 and a 52 week high of $2,073.99. The stock has a market capitalization of $68.01 billion, a P/E ratio of 55.74 and a beta of 1.65. The stock has a fifty day moving average of $1,812.16 and a 200-day moving average of $1,409.97.

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. On average, sell-side 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. Stockholders of record on Friday, May 15th were issued a dividend of $0.80 per share. 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. The ex-dividend date was Friday, May 15th. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.23%.

Insider Activity at Comfort Systems USA

In other news, CAO Julie Shaeff sold 1,123 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the completion of the transaction, the chief accounting officer directly owned 12,624 shares in the company, valued at approximately $25,252,670.88. This represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Sandbrook sold 1,500 shares of the company's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $1,732.67, for a total value of $2,599,005.00. Following the completion of the transaction, the director directly owned 7,666 shares of the company's stock, valued at approximately $13,282,648.22. The trade was a 16.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 24,078 shares of company stock valued at $46,651,175. 1.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective for the company in a research report on Friday, April 24th. Oppenheimer assumed coverage on shares of Comfort Systems USA in a research report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price objective for the company. Erste Group Bank assumed coverage on shares of Comfort Systems USA in a research report on Friday, June 5th. They set a "buy" rating for the company. Wall Street Zen cut shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Finally, Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 25th. One 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, the company presently has a consensus rating of "Buy" and an average 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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