Fred Alger Management LLC Has $7 Million Stock Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Fred Alger Management LLC increased its stake in Comfort Systems USA by 33.9%, owning approximately $7 million worth of shares after acquiring 5,500 additional shares.
• Comfort Systems USA reported a 20.1% revenue increase to $2.17 billion for its last quarter, surpassing analyst estimates.
• The company announced a dividend increase from $0.45 to $0.50, resulting in an annualized dividend of $2.00 and a dividend yield of 0.3%.

Fred Alger Management LLC boosted its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 33.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,729 shares of the construction company's stock after purchasing an additional 5,500 shares during the quarter. Fred Alger Management LLC owned about 0.06% of Comfort Systems USA worth $7,004,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FIX. Tradewinds Capital Management LLC increased its position in shares of Comfort Systems USA by 49.1% during the first quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock worth $26,000 after acquiring an additional 27 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Comfort Systems USA in the first quarter valued at $31,000. Versant Capital Management Inc raised its holdings in Comfort Systems USA by 257.1% in the first quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock valued at $32,000 after acquiring an additional 72 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Comfort Systems USA by 54.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company's stock valued at $34,000 after acquiring an additional 37 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in Comfort Systems USA by 259.4% in the first quarter. Brooklyn Investment Group now owns 115 shares of the construction company's stock valued at $37,000 after acquiring an additional 83 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Up 1.9%

FIX traded up $14.23 during midday trading on Thursday, hitting $766.33. 559,783 shares of the company's stock traded hands, compared to its average volume of 366,747. Comfort Systems USA, Inc. has a one year low of $276.44 and a one year high of $772.22. The company has a market cap of $27.04 billion, a PE ratio of 39.38 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. The stock's fifty day simple moving average is $654.75 and its 200-day simple moving average is $496.32.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the company posted $3.74 earnings per share. Comfort Systems USA's quarterly revenue was up 20.1% on a year-over-year basis. As a group, equities analysts anticipate that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Thursday, August 14th were paid a $0.50 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.00 annualized dividend and a dividend 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 is presently 10.28%.

Insiders Place Their Bets

In other Comfort Systems USA news, COO T Mckenna Trent sold 4,400 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $716.63, for a total transaction of $3,153,172.00. Following the completion of the sale, the chief operating officer directly owned 21,639 shares of the company's stock, valued at approximately $15,507,156.57. The trade was a 16.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Pablo G. Mercado sold 1,078 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $695.88, for a total value of $750,158.64. Following the completion of the sale, the director directly owned 6,500 shares of the company's stock, valued at approximately $4,523,220. This trade represents a 14.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,783 shares of company stock valued at $18,710,798 over the last three months. Company insiders own 1.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FIX shares. Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Stifel Nicolaus upped their price target on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, William Blair initiated coverage on shares of Comfort Systems USA in a research report on Thursday. They set an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Comfort Systems USA has a consensus rating of "Buy" and a consensus target price of $635.60.

About Comfort Systems USA

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.