Eventide Asset Management LLC Acquires New Shares in Comfort Systems USA, Inc. $FIX

Key Points

• Eventide Asset Management disclosed a new stake in Comfort Systems USA, buying 8,343 shares valued at about $7.8 million in the fourth quarter.
• Comfort Systems USA reported a strong quarterly beat, with EPS of $10.51 versus $6.81 expected and revenue of $2.87 billion, up 56.5% year over year.
• The company also raised its dividend to $0.80 per share quarterly, while analysts remain broadly positive with a consensus Buy rating and a target price around $1,991.50.

Eventide Asset Management LLC acquired a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,343 shares of the construction company's stock, valued at approximately $7,797,000.

Several other hedge funds also recently modified their holdings of the company. Farmers & Merchants Investments Inc. boosted its holdings 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 valued at $37,000 after acquiring an additional 9 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in Comfort Systems USA by 3.0% during the 4th quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock worth $291,000 after buying an additional 9 shares during the period. JFS Wealth Advisors LLC lifted its holdings in 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 buying an additional 10 shares during the period. West Michigan Advisors LLC lifted its holdings in Comfort Systems USA by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 768 shares of the construction company's stock worth $717,000 after buying an additional 10 shares during the period. Finally, EWA LLC lifted its holdings in Comfort Systems USA by 2.7% during the 4th quarter. EWA LLC now owns 379 shares of the construction company's stock worth $353,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Insider Buying and Selling at Comfort Systems USA

In related news, CFO William George III sold 4,000 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,948.17, for a total transaction of $7,792,680.00. Following the transaction, the chief financial officer directly owned 33,804 shares of the company's stock, valued at approximately $65,855,938.68. This represents a 10.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian E. Lane sold 11,113 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the transaction, the insider directly owned 161,089 shares in the company, valued at approximately $317,319,555.76. This trade represents a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 24,078 shares of company stock worth $46,651,175 in the last quarter. Company insiders own 1.24% of the company's stock.

Comfort Systems USA Price Performance

Shares of FIX opened at $1,877.52 on Monday. The business's 50 day moving average price is $1,781.45 and its two-hundred day moving average price is $1,389.51. Comfort Systems USA, Inc. has a 52-week low of $489.54 and a 52-week high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The firm has a market cap of $66.09 billion, a PE ratio of 54.17 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the business earned $4.75 EPS. The firm's revenue for the quarter was up 56.5% on a year-over-year basis. On average, equities analysts anticipate that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared 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 an increase 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 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.23%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FIX. DA Davidson lifted their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Monday, May 25th. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Oppenheimer began coverage on Comfort Systems USA in a report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 target price on the stock. Finally, Erste Group Bank started coverage on Comfort Systems USA in a report on Friday, June 5th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Comfort Systems USA has a consensus rating of "Buy" and a consensus target price 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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