Freedom Investment Management Inc. Buys New Position in Comfort Systems USA, Inc. $FIX

Key Points

• Freedom Investment Management Inc. has newly acquired 1,289 shares of Comfort Systems USA, Inc., valued at approximately $415,000, as stated in a recent SEC filing.
• Comfort Systems USA reported strong quarterly earnings with an EPS of $6.53, surpassing analyst estimates of $4.84, alongside a 20.1% increase in revenue compared to the previous year.
• The company has announced a dividend increase to $0.50 per share, reflecting an annualized dividend yield of 0.3% and a payout ratio of 10.28%.

Freedom Investment Management Inc. bought a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,289 shares of the construction company's stock, valued at approximately $415,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FIX. Tradewinds Capital Management LLC raised its stake in Comfort Systems USA by 49.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock valued at $26,000 after purchasing an additional 27 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Comfort Systems USA during the first quarter worth $31,000. Versant Capital Management Inc grew its holdings in shares of Comfort Systems USA by 257.1% during the first quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock worth $32,000 after buying an additional 72 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of 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 buying an additional 37 shares during the last quarter. Finally, Colonial Trust Co SC lifted its stake in shares of Comfort Systems USA by 352.6% in the fourth quarter. Colonial Trust Co SC now owns 86 shares of the construction company's stock worth $36,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Down 0.6%

Comfort Systems USA stock traded down $4.51 during mid-day trading on Tuesday, hitting $698.88. The company's stock had a trading volume of 363,014 shares, compared to its average volume of 354,990. The stock's fifty day moving average is $627.01 and its two-hundred day moving average is $480.36. 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 firm has a market capitalization of $24.66 billion, a PE ratio of 35.91 and a beta of 1.54. Comfort Systems USA, Inc. has a 1 year low of $276.44 and a 1 year high of $733.24.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, beating the consensus estimate of $4.84 by $1.69. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.97 billion. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%.The company's quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.74 EPS. On average, 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 announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. Comfort Systems USA's dividend payout ratio is currently 10.28%.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, CFO William George III sold 8,436 shares of Comfort Systems USA stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $692.60, for a total transaction of $5,842,773.60. Following the completion of the sale, the chief financial officer directly owned 47,473 shares in the company, valued at $32,879,799.80. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO T Mckenna Trent sold 4,400 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were 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 in the company, valued at $15,507,156.57. This trade represents a 16.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,283 shares of company stock valued at $21,682,525 over the last quarter. 1.59% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on FIX. 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. DA Davidson boosted their target price on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Northcoast Research downgraded Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus boosted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Comfort Systems USA presently has a consensus rating of "Buy" and an average price target of $635.60.

Comfort Systems USA Company 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.