GK Wealth Management LLC Takes $206,000 Position in Comfort Systems USA, Inc. $FIX

Key Points

• GK Wealth Management LLC acquired a new position in Comfort Systems USA, investing approximately $206,000 for 384 shares during the 2nd quarter, as disclosed in their 13F filing.
• Comfort Systems USA is experiencing increased interest from institutional investors, with 96.51% of the stock currently owned by hedge funds and other institutions.
• Analysts have recently raised their price targets for Comfort Systems USA, with DA Davidson increasing its target from $630 to $810, reflecting a positive outlook on the company's future performance.

GK Wealth Management LLC bought a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 384 shares of the construction company's stock, valued at approximately $206,000.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in shares of Comfort Systems USA by 1.8% in the 4th quarter. Cetera Investment Advisers now owns 5,647 shares of the construction company's stock worth $2,395,000 after buying an additional 101 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Comfort Systems USA by 85.7% in the 4th quarter. Focus Partners Wealth now owns 1,092 shares of the construction company's stock worth $463,000 after purchasing an additional 504 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Comfort Systems USA by 7.0% in the fourth quarter. ProShare Advisors LLC now owns 1,659 shares of the construction company's stock worth $704,000 after buying an additional 108 shares during the last quarter. Royal Bank of Canada grew its position in Comfort Systems USA by 71.2% during the fourth quarter. Royal Bank of Canada now owns 47,507 shares of the construction company's stock valued at $20,146,000 after buying an additional 19,753 shares during the period. Finally, Tidal Investments LLC increased its holdings in Comfort Systems USA by 95.8% during the fourth quarter. Tidal Investments LLC now owns 10,189 shares of the construction company's stock valued at $4,321,000 after buying an additional 4,986 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Comfort Systems USA

In other news, insider Brian E. Lane sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $691.74, for a total transaction of $6,917,400.00. Following the transaction, the insider owned 188,046 shares of the company's stock, valued at approximately $130,078,940.04. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO T Mckenna Trent sold 4,400 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $716.63, for a total value of $3,153,172.00. Following the completion of the sale, the chief operating officer owned 21,639 shares in the company, valued at approximately $15,507,156.57. The trade was a 16.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,783 shares of company stock valued at $18,710,798. 1.59% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FIX shares. DA Davidson lifted their price target on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Wall Street Zen raised Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Stifel Nicolaus increased their target price on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, UBS Group lifted their price target on shares of Comfort Systems USA from $710.00 to $875.00 and gave the company a "buy" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $668.60.

Comfort Systems USA Stock Performance

NYSE FIX opened at $781.85 on Tuesday. The business's 50 day moving average price is $663.85 and its 200-day moving average price is $503.77. Comfort Systems USA, Inc. has a fifty-two week low of $276.44 and a fifty-two week high of $782.46. The company has a market cap of $27.58 billion, a P/E ratio of 40.18 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, topping the consensus estimate of $4.84 by $1.69. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.97 billion. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. Comfort Systems USA's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.74 earnings per share. Sell-side analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 0.3%. Comfort Systems USA's payout ratio is 10.28%.

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.

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