Graham Capital Management L.P. Grows Stock Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Graham Capital Management increased its stake in Comfort Systems USA by 50.3% in the fourth quarter, lifting its holdings to 5,277 shares worth about $4.93 million.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 beating estimates by $3.70 and revenue rising 56.5% year over year to $2.87 billion.
• The company raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain mostly bullish with a consensus rating of Buy and an average price target of $1,991.50.

Graham Capital Management L.P. raised its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 50.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,277 shares of the construction company's stock after buying an additional 1,766 shares during the quarter. Graham Capital Management L.P.'s holdings in Comfort Systems USA were worth $4,925,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Polar Capital Holdings Plc purchased a new stake in shares of Comfort Systems USA during the fourth quarter valued at about $23,542,000. Rothschild Wealth LLC purchased a new stake in shares of Comfort Systems USA during the fourth quarter valued at about $689,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Comfort Systems USA during the fourth quarter valued at about $1,176,000. Temasek Holdings Private Ltd purchased a new stake in shares of Comfort Systems USA during the fourth quarter valued at about $49,051,000. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of Comfort Systems USA during the fourth quarter valued at about $4,405,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO William George III sold 4,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,948.17, for a total value of $7,792,680.00. Following the transaction, the chief financial officer owned 33,804 shares in the company, valued at approximately $65,855,938.68. This represents a 10.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian E. Lane sold 11,113 shares of the 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 completion of 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. Insiders have sold 24,078 shares of company stock worth $46,651,175 in the last quarter. 1.24% of the stock is currently owned by corporate insiders.

Comfort Systems USA Stock Performance

FIX opened at $1,917.26 on Wednesday. Comfort Systems USA, Inc. has a 52-week low of $489.98 and a 52-week high of $2,073.99. 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 $67.49 billion, a P/E ratio of 55.32 and a beta of 1.65. The firm's 50-day moving average price is $1,802.15 and its 200-day moving average price is $1,403.19.

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 43.39 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were issued a $0.80 dividend. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 15th. This represents a $3.20 annualized dividend and a yield of 0.2%. Comfort Systems USA's dividend payout ratio is currently 9.23%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Glj Research assumed coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price target for the company. Oppenheimer assumed coverage on shares of Comfort Systems USA in a report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Finally, Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $1,991.50.

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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