Geneva Partners LLC Purchases Shares of 4,315 Comfort Systems USA, Inc. $FIX

Key Points

• Geneva Partners LLC bought 4,315 shares of Comfort Systems USA worth approximately $8.55 million, making FIX about 2.3% of its portfolio. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with revenue rising 50.3% year over year to $3.27 billion and EPS of $12.53, exceeding analyst expectations of $10.45.
• The company raised its quarterly dividend from $0.80 to $0.90 per share, while analysts maintain a consensus “Buy” rating and an average price target of $2,057.86. However, insiders sold $31.2 million of stock over the last quarter.

Geneva Partners LLC purchased a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,315 shares of the construction company's stock, valued at approximately $8,553,000. Comfort Systems USA makes up about 2.3% of Geneva Partners LLC's portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds have also recently made changes to their positions in the business. Avalon Trust Co purchased a new stake in shares of Comfort Systems USA in the 2nd quarter valued at $32,000. Carolina Wealth Advisors LLC lifted its stake in Comfort Systems USA by 63.6% in the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock worth $36,000 after purchasing an additional 7 shares during the last quarter. Core Wealth Advisors LLC purchased a new stake in Comfort Systems USA during the fourth quarter valued at about $28,000. CENTRAL TRUST Co purchased a new stake in Comfort Systems USA during the first quarter valued at about $46,000. Finally, Ascentis Independent Advisors bought a new position in shares of Comfort Systems USA during the first quarter valued at about $46,000. 96.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO William George III sold 2,554 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the sale, the chief financial officer directly owned 30,250 shares of the company's stock, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rhoman J. Hardy sold 342 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the transaction, the director owned 1,890 shares in the company, valued at $3,591,151.20. This represents a 15.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,096 shares of company stock valued at $31,186,647 over the last quarter. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Stock Down 2.7%

Shares of NYSE:FIX opened at $1,691.56 on Thursday. The stock's 50-day moving average is $1,791.43 and its 200 day moving average is $1,651.31. The company has a market cap of $59.53 billion, a PE ratio of 41.60 and a beta of 1.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. Comfort Systems USA, Inc. has a 1 year low of $655.96 and a 1 year high of $2,073.99.

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

Comfort Systems USA Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on FIX. UBS Group lifted their price objective on Comfort Systems USA from $2,125.00 to $2,225.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Oppenheimer assumed coverage on Comfort Systems USA in a report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 target price for the company. Erste Group Bank lowered Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Stifel Nicolaus set a $1,910.00 price target on Comfort Systems USA in a research note on Monday, July 27th. Finally, Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $2,057.86.

Comfort Systems USA 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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