First Financial Bank Trust Division Takes Position in Comfort Systems USA, Inc. $FIX

Key Points

• First Financial Bank Trust Division initiated a 1,204-share position in Comfort Systems USA valued at approximately $2.39 million. Institutional investors and hedge funds collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 exceeding estimates of $10.45 and revenue rising 50.3% year over year to $3.27 billion. The stock opened at $1,775.51, near its 12-month high of $2,073.99.
• The company increased its quarterly dividend from $0.80 to $0.90 per share, while analysts maintained a consensus “Buy” rating and a $2,057.86 price target; however, insiders sold $34.4 million of stock during the last quarter.

First Financial Bank Trust Division bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,204 shares of the construction company's stock, valued at approximately $2,386,000.

A number of other institutional investors have also made changes to their positions in FIX. Core Wealth Advisors LLC bought a new position in Comfort Systems USA during the fourth quarter worth $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Comfort Systems USA in the fourth quarter valued at about $33,000. Farmers & Merchants Investments Inc. raised its position in shares of Comfort Systems USA by 29.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after purchasing an additional 9 shares during the period. CENTRAL TRUST Co bought a new position in shares of Comfort Systems USA in the first quarter valued at about $46,000. Finally, Ascentis Independent Advisors acquired a new stake in shares of Comfort Systems USA during the 1st quarter worth about $46,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Comfort Systems USA news, CAO Julie Shaeff sold 1,123 shares of Comfort Systems USA stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the completion of the transaction, the chief accounting officer directly owned 12,624 shares of the company's stock, valued at $25,252,670.88. The trade was a 8.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rhoman J. Hardy sold 342 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total value of $649,827.36. Following the sale, the director owned 1,890 shares of the company's stock, valued at approximately $3,591,151.20. The trade was a 15.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,665 shares of company stock worth $34,366,397 in the last quarter. Insiders own 1.24% of the company's stock.

Comfort Systems USA Stock Performance

NYSE FIX opened at $1,775.51 on Tuesday. The firm has a 50-day moving average price of $1,816.88 and a two-hundred day moving average price of $1,599.96. Comfort Systems USA, Inc. has a 12-month low of $655.96 and a 12-month high of $2,073.99. The company has a market capitalization of $62.49 billion, a P/E ratio of 43.67 and a beta of 1.66. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, topping the consensus estimate of $10.45 by $2.08. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The company had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same period last year, the firm earned $6.53 earnings per share. The business's revenue for the quarter was up 50.3% on a year-over-year basis. Analysts anticipate that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.90 per share. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, August 13th. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's dividend payout ratio is 8.85%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FIX shares. KeyCorp lifted their target price on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. UBS Group raised their price objective on shares of Comfort Systems USA from $2,125.00 to $2,225.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Wall Street Zen cut Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Erste Group Bank cut Comfort Systems USA from a "buy" rating to a "hold" rating in a report on Wednesday, July 15th. Finally, Glj Research initiated coverage on Comfort Systems USA in a research report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $2,057.86.

Comfort Systems USA Company Profile

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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