Gallacher Capital Management LLC Has $423,000 Position in Comfort Systems USA, Inc. $FIX

Key Points

• Gallacher Capital Management LLC reduced its stake in Comfort Systems USA by 30.6%, now holding 790 shares worth approximately $423,000.
• Comfort Systems USA reported a quarterly EPS of $6.53, significantly exceeding analyst estimates, with revenue growing by 20.1% year-over-year.
• The company declared an increased quarterly dividend of $0.50, up from the previous $0.45, reflecting a strong dividend payout ratio of 10.28%.

Gallacher Capital Management LLC reduced its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 30.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 790 shares of the construction company's stock after selling 348 shares during the quarter. Gallacher Capital Management LLC's holdings in Comfort Systems USA were worth $423,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in shares of Comfort Systems USA by 18.9% in the second quarter. Parallel Advisors LLC now owns 535 shares of the construction company's stock worth $287,000 after acquiring an additional 85 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of Comfort Systems USA by 1.1% in the second quarter. Insight Wealth Strategies LLC now owns 7,918 shares of the construction company's stock worth $4,131,000 after acquiring an additional 86 shares in the last quarter. OMNI 360 Wealth Inc. bought a new stake in shares of Comfort Systems USA in the second quarter worth about $298,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Comfort Systems USA by 25.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 246 shares of the construction company's stock worth $132,000 after buying an additional 50 shares in the last quarter. Finally, Kera Capital Partners Inc. bought a new position in shares of Comfort Systems USA during the second quarter worth about $236,000. 96.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. William Blair assumed coverage on Comfort Systems USA in a report on Thursday, September 11th. They set an "outperform" rating for the company. DA Davidson increased their price objective on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a report on Monday, July 28th. UBS Group increased their price objective on Comfort Systems USA from $710.00 to $875.00 and gave the stock a "buy" rating in a report on Monday. Finally, Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Comfort Systems USA currently has an average rating of "Buy" and an average target price of $668.60.

Comfort Systems USA Stock Down 0.4%

FIX stock traded down $2.82 during mid-day trading on Friday, reaching $796.56. The company had a trading volume of 240,959 shares, compared to its average volume of 461,608. 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 has a 50 day simple moving average of $678.71 and a two-hundred day simple moving average of $510.58. The company has a market capitalization of $28.10 billion, a price-to-earnings ratio of 40.93 and a beta of 1.54. Comfort Systems USA, Inc. has a 52 week low of $276.44 and a 52 week high of $806.58.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the company earned $3.74 earnings per share. The business's revenue was up 20.1% compared to the same quarter last year. As a group, equities analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders 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 a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. Comfort Systems USA's payout ratio is 10.28%.

Insider Buying and Selling

In other news, Director William J. Sandbrook sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $733.56, for a total value of $586,848.00. Following the completion of the sale, the director directly owned 11,666 shares of the company's stock, valued at $8,557,710.96. This trade represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO William George III sold 8,436 shares of Comfort Systems USA stock in a transaction that occurred on Friday, August 8th. The stock was 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. The trade was a 15.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,783 shares of company stock valued at $18,710,798. Insiders own 1.59% of the company's stock.

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.