Gallo Partners LP Invests $3.86 Million in Comfort Systems USA, Inc. $FIX

Key Points

• Gallo Partners LP acquired a new $3.86 million position in Comfort Systems USA during the second quarter, purchasing 1,949 shares. The stock now represents 8.6% of the fund’s holdings and is its largest position.
• Comfort Systems USA reported strong quarterly results, with earnings of $12.53 per share and revenue of $3.27 billion, surpassing analyst estimates; revenue increased 50.3% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $2,082.86.
• Institutional investors own 96.51% of the company, while insiders sold 17,096 shares worth $31.19 million during the past quarter. The company also raised its quarterly dividend to $0.90 per share from $0.80.

Gallo Partners LP bought a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,949 shares of the construction company's stock, valued at approximately $3,863,000. Comfort Systems USA makes up 8.6% of Gallo Partners LP's holdings, making the stock its largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signature Equity Partners LLC increased its stake in Comfort Systems USA by 16.7% in the 1st quarter. Signature Equity Partners LLC now owns 35 shares of the construction company's stock worth $48,000 after acquiring an additional 5 shares during the last quarter. Coston McIsaac & Partners boosted its position in shares of Comfort Systems USA by 3.0% during the 1st quarter. Coston McIsaac & Partners now owns 239 shares of the construction company's stock valued at $329,000 after acquiring an additional 7 shares during the last quarter. Petra Financial Advisors Inc. grew its holdings in shares of Comfort Systems USA by 0.7% in the first quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company's stock valued at $1,489,000 after purchasing an additional 7 shares in the last quarter. Carolina Wealth Advisors LLC grew its holdings in shares of Comfort Systems USA by 63.6% in the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock valued at $36,000 after purchasing an additional 7 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Comfort Systems USA by 1.4% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 572 shares of the construction company's stock valued at $789,000 after purchasing an additional 8 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Franklin Myers sold 4,000 shares of Comfort Systems USA stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the transaction, the director directly owned 8,495 shares of the company's stock, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William George III sold 2,554 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the transaction, the chief financial officer owned 30,250 shares in the company, valued at $56,254,412.50. The trade was a 7.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 17,096 shares of company stock valued at $31,186,647. 1.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FIX. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. KeyCorp lifted their price objective on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a research note on Monday, July 27th. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a report on Friday, July 17th. Erste Group Bank downgraded shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a report on Wednesday, July 15th. Finally, Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Comfort Systems USA currently has an average rating of "Buy" and a consensus price target of $2,082.86.

Comfort Systems USA Stock Performance

NYSE FIX opened at $1,658.28 on Monday. The company has a market cap of $58.35 billion, a P/E ratio of 40.78 and a beta of 1.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. The business's 50 day moving average price is $1,783.64 and its 200-day moving average price is $1,658.46. Comfort Systems USA, Inc. has a fifty-two week low of $670.19 and a fifty-two week high of $2,073.99.

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

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Thursday, August 13th will be paid a $0.90 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, August 13th. Comfort Systems USA's payout ratio is currently 8.85%.

About Comfort Systems USA

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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