Forsta AP Fonden Makes New $7.39 Million Investment in Comfort Systems USA, Inc. $FIX

Key Points

• Forsta AP Fonden initiated a new position in Comfort Systems USA, buying 7,920 shares valued at about $7.39 million in the fourth quarter.
• Institutional interest remains heavy, with major holders like Vanguard, Norges Bank, and Geode Capital increasing their stakes; institutions now own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, including EPS of $10.51 versus estimates of $6.81 and revenue growth of 56.5% year over year, while also raising its quarterly dividend to $0.80 per share.

Forsta AP Fonden bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,920 shares of the construction company's stock, valued at approximately $7,392,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FIX. Vanguard Group Inc. raised its position in shares of Comfort Systems USA by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after acquiring an additional 625,567 shares during the last quarter. Norges Bank bought a new stake in shares of Comfort Systems USA during the fourth quarter worth $469,606,000. Geode Capital Management LLC raised its position in shares of Comfort Systems USA by 39.0% during the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock worth $1,103,453,000 after acquiring an additional 332,441 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Comfort Systems USA by 37,987.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company's stock worth $289,349,000 after acquiring an additional 309,217 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Comfort Systems USA by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company's stock worth $606,117,000 after acquiring an additional 197,613 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Insider Transactions at Comfort Systems USA

In other Comfort Systems USA news, insider Brian E. Lane sold 11,113 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider directly owned 161,089 shares of the company's stock, valued at approximately $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Franklin Myers sold 4,500 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $1,902.57, for a total value of $8,561,565.00. Following the completion of the transaction, the director directly owned 68,983 shares of the company's stock, valued at approximately $131,244,986.31. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 24,078 shares of company stock valued at $46,651,175. Insiders own 1.24% of the company's stock.

Comfort Systems USA Trading Down 2.4%

NYSE FIX opened at $1,783.45 on Tuesday. The stock has a 50-day simple moving average of $1,699.15 and a 200 day simple moving average of $1,330.69. The company has a market capitalization of $62.78 billion, a PE ratio of 51.46 and a beta of 1.66. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a 12 month low of $465.05 and a 12 month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.39 billion. During the same period in the previous year, the firm earned $4.75 earnings per share. The company's revenue was up 56.5% on a year-over-year basis. Research analysts forecast that Comfort Systems USA, Inc. will post 43.38 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were paid a $0.80 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's payout ratio is presently 9.23%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. UBS Group boosted their target price on Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Glj Research began coverage on Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 target price for the company. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Finally, Oppenheimer began coverage on Comfort Systems USA in a report on Thursday. They issued an "outperform" rating and a $2,200.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $1,969.33.

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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