Geode Capital Management LLC Purchases 332,441 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Geode Capital Management increased its Comfort Systems USA stake by 39% in the fourth quarter, buying 332,441 shares and lifting its holding to 1,185,909 shares worth about $1.10 billion.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 and revenue of $2.87 billion, both above analyst estimates. Revenue rose 56.5% year over year, and analysts now expect full-year EPS of 43.17.
• The company raised its quarterly dividend to $0.80 per share from $0.70, though the yield remains low at about 0.2%. Meanwhile, several insiders sold shares recently, including CEO Brian E. Lane and Director Franklin Myers.

Geode Capital Management LLC boosted its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 39.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,185,909 shares of the construction company's stock after acquiring an additional 332,441 shares during the quarter. Geode Capital Management LLC owned 3.36% of Comfort Systems USA worth $1,103,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FIX. NewEdge Advisors LLC increased its stake in Comfort Systems USA by 41.1% in the first quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company's stock valued at $1,100,000 after acquiring an additional 993 shares during the last quarter. Focus Partners Wealth boosted its position in Comfort Systems USA by 110.6% during the first quarter. Focus Partners Wealth now owns 2,300 shares of the construction company's stock valued at $741,000 after buying an additional 1,208 shares during the period. Sivia Capital Partners LLC boosted its position in Comfort Systems USA by 40.9% during the second quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company's stock valued at $579,000 after buying an additional 313 shares during the period. WINTON GROUP Ltd purchased a new stake in Comfort Systems USA during the second quarter valued at about $567,000. Finally, Sei Investments Co. boosted its position in Comfort Systems USA by 69.2% during the second quarter. Sei Investments Co. now owns 43,631 shares of the construction company's stock valued at $23,395,000 after buying an additional 17,839 shares during the period. Institutional investors own 96.51% of the company's stock.

Insider Activity

In other Comfort Systems USA news, insider Brian E. Lane sold 11,113 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Franklin Myers sold 4,500 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $1,902.57, for a total value of $8,561,565.00. Following the transaction, the director owned 68,983 shares in the company, valued at $131,244,986.31. This trade represents a 6.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,694 shares of company stock worth $54,374,425. Company insiders own 1.24% of the company's stock.

Comfort Systems USA Stock Performance

Comfort Systems USA stock opened at $1,827.41 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $1,692.34 and a 200-day moving average of $1,322.38. The firm has a market cap of $64.32 billion, a P/E ratio of 52.72 and a beta of 1.70. Comfort Systems USA, Inc. has a 1-year low of $465.05 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. Comfort Systems USA's revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.75 earnings per share. Sell-side analysts expect that Comfort Systems USA, Inc. will post 43.17 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were issued a dividend of $0.80 per share. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.23%.

Analyst Ratings Changes

Several research firms have issued reports on FIX. KeyCorp upgraded shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target for the company in a research report on Friday, April 24th. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Oppenheimer began coverage on shares of Comfort Systems USA in a research report on Thursday. They set an "outperform" rating and a $2,200.00 price target for the company. DA Davidson upped their price target on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Finally, Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Comfort Systems USA presently has an average rating of "Buy" and a consensus price target of $1,969.33.

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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