Financiere des Professionnels Fonds d investissement inc. Invests $700,000 in Comfort Systems USA, Inc. $FIX

Key Points

• Financiere des Professionnels Fonds d'investissement inc. has acquired a new position in Comfort Systems USA, investing approximately $700,000 for 1,306 shares.
• Comfort Systems USA's stock has received positive analyst upgrades, with price targets increasing and ratings moving from "hold" to "buy," indicating strong market interest.
• The company recently announced a quarterly dividend increase from $0.45 to $0.50 per share, reflecting a commitment to returning value to shareholders.

Financiere des Professionnels Fonds d investissement inc. bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,306 shares of the construction company's stock, valued at approximately $700,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Comfort Systems USA by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 3,802,542 shares of the construction company's stock valued at $1,225,673,000 after buying an additional 21,847 shares during the period. Westfield Capital Management Co. LP grew its stake in Comfort Systems USA by 0.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 889,639 shares of the construction company's stock worth $286,757,000 after purchasing an additional 4,512 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Comfort Systems USA by 2,872,410.3% during the 1st quarter. Jones Financial Companies Lllp now owns 833,028 shares of the construction company's stock worth $268,510,000 after purchasing an additional 832,999 shares in the last quarter. AQR Capital Management LLC grew its stake in Comfort Systems USA by 106.4% during the 1st quarter. AQR Capital Management LLC now owns 530,428 shares of the construction company's stock worth $165,228,000 after purchasing an additional 273,453 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Comfort Systems USA by 36.4% during the 1st quarter. JPMorgan Chase & Co. now owns 519,437 shares of the construction company's stock worth $167,430,000 after purchasing an additional 138,541 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

FIX has been the subject of several analyst reports. Northcoast Research cut Comfort Systems USA from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Stifel Nicolaus boosted their target price on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. UBS Group upped their price objective on Comfort Systems USA from $710.00 to $875.00 and gave the stock a "buy" rating in a research report on Monday. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen raised Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Comfort Systems USA presently has an average rating of "Buy" and a consensus price target of $668.60.

Insider Activity

In other Comfort Systems USA news, CAO Julie Shaeff sold 1,369 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $704.50, for a total transaction of $964,460.50. Following the completion of the sale, the chief accounting officer directly owned 16,023 shares of the company's stock, valued at $11,288,203.50. This represents a 7.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William George III sold 8,436 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $692.60, for a total value of $5,842,773.60. Following the sale, the chief financial officer directly owned 47,473 shares of the company's stock, valued at approximately $32,879,799.80. This represents a 15.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,783 shares of company stock worth $18,710,798 over the last quarter. 1.59% of the stock is owned by insiders.

Comfort Systems USA Stock Performance

Shares of Comfort Systems USA stock traded down $2.82 on Friday, hitting $796.56. The stock had a trading volume of 685,925 shares, compared to its average volume of 464,324. Comfort Systems USA, Inc. has a 52-week low of $276.44 and a 52-week high of $806.58. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The stock has a market cap of $28.10 billion, a price-to-earnings ratio of 40.93 and a beta of 1.54. The company's 50 day moving average price is $678.71 and its 200 day moving average price is $510.58.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its 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. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%.The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the business earned $3.74 EPS. The business's quarterly revenue was up 20.1% on a year-over-year basis. On average, research analysts anticipate that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio (DPR) is currently 10.28%.

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.