Generali Asset Management SPA SGR Acquires New Shares in Comfort Systems USA, Inc. $FIX

Key Points

• Generali Asset Management opened a new position in Comfort Systems USA, buying 1,002 shares worth about $935,000 in the fourth quarter.
• The stock continues to attract major institutional interest, with firms like Vanguard, Invesco, AQR, JPMorgan, and First Trust increasing holdings; 96.51% of shares are now owned by institutional investors.
• Comfort Systems USA reported strong quarterly results, including EPS of $10.51 versus $6.81 expected and revenue of $2.87 billion, while also raising its quarterly dividend to $0.80 per share from $0.70.

Generali Asset Management SPA SGR acquired a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,002 shares of the construction company's stock, valued at approximately $935,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Comfort Systems USA by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after purchasing an additional 625,567 shares in the last quarter. Invesco Ltd. raised its holdings in Comfort Systems USA by 7.4% in the third quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock worth $878,454,000 after purchasing an additional 73,727 shares in the last quarter. AQR Capital Management LLC raised its holdings in Comfort Systems USA by 6.8% in the third quarter. AQR Capital Management LLC now owns 835,560 shares of the construction company's stock worth $678,475,000 after purchasing an additional 53,125 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Comfort Systems USA by 36.8% in the third quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company's stock worth $606,117,000 after purchasing an additional 197,613 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Comfort Systems USA by 29.8% in the third quarter. First Trust Advisors LP now owns 513,257 shares of the construction company's stock worth $423,529,000 after purchasing an additional 117,892 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Zacks Research downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. UBS Group boosted their target price on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a "buy" rating in a report on Monday, April 27th. KeyCorp upgraded shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price for the company in a report on Friday, April 24th. DA Davidson boosted their target price on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Finally, Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Sunday. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,923.20.

Insider Activity

In other news, CFO William George III sold 9,000 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $1,434.97, for a total transaction of $12,914,730.00. Following the transaction, the chief financial officer owned 37,824 shares in the company, valued at $54,276,305.28. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian E. Lane sold 11,113 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the transaction, the insider owned 161,089 shares in the company, valued at approximately $317,319,555.76. This trade represents a 6.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 54,901 shares of company stock valued at $87,618,330. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Stock Performance

FIX opened at $1,950.66 on Monday. Comfort Systems USA, Inc. has a 52-week low of $430.79 and a 52-week high of $2,018.05. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The company has a market cap of $68.66 billion, a P/E ratio of 56.28 and a beta of 1.70. The firm's 50-day moving average price is $1,529.16 and its 200-day moving average price is $1,215.34.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the company posted $4.75 earnings per share. The company's revenue for the quarter was up 56.5% compared to the same quarter last year. As a group, equities analysts anticipate that Comfort Systems USA, Inc. will post 43.17 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date is Friday, May 15th. Comfort Systems USA's dividend payout ratio is currently 8.08%.

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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