Granahan Investment Management LLC Buys New Stake in Comfort Systems USA, Inc. $FIX

Key Points

• Granahan Investment Management LLC made a significant investment of approximately $22 million in Comfort Systems USA, acquiring 68,252 shares, which represents about 1.1% of the firm's portfolio.
• Multiple institutional investors, including Ameriprise Financial Inc. and BNP Paribas Financial Markets, have increased their stakes in Comfort Systems USA significantly, indicating growing confidence in the company's prospects.
• Comfort Systems USA recently upgraded its quarterly dividend from $0.45 to $0.50, reflecting strong financial performance, with a reported 20.1% increase in quarterly revenue compared to the previous year.

Granahan Investment Management LLC bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 68,252 shares of the construction company's stock, valued at approximately $22,000,000. Comfort Systems USA accounts for approximately 1.1% of Granahan Investment Management LLC's investment portfolio, making the stock its 24th biggest holding. Granahan Investment Management LLC owned 0.19% of Comfort Systems USA as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. grew its stake in Comfort Systems USA by 13.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,556 shares of the construction company's stock worth $824,000 after purchasing an additional 296 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Comfort Systems USA by 27.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock worth $364,000 after purchasing an additional 239 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Comfort Systems USA by 97.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock worth $2,377,000 after purchasing an additional 3,644 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in Comfort Systems USA by 256.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 2,040 shares of the construction company's stock worth $658,000 after purchasing an additional 1,467 shares during the period. Finally, Spire Wealth Management increased its holdings in Comfort Systems USA by 9.8% during the 1st quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock worth $324,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group increased their target price on Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a report on Friday, July 25th. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Wall Street Zen raised Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Northcoast Research lowered Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Finally, Stifel Nicolaus increased their target price on Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Comfort Systems USA currently has an average rating of "Buy" and an average target price of $635.60.

Comfort Systems USA Stock Performance

Shares of FIX stock traded down $16.34 during mid-day trading on Friday, hitting $707.61. 523,754 shares of the stock were exchanged, compared to its average volume of 368,113. The stock's fifty day simple moving average is $638.44 and its two-hundred day simple moving average is $487.70. The stock has a market capitalization of $24.96 billion, a price-to-earnings ratio of 36.36 and a beta of 1.54. Comfort Systems USA, Inc. has a 12-month low of $276.44 and a 12-month high of $733.24. 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 announced its earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $3.74 earnings per share. The business's quarterly revenue was up 20.1% compared to the same quarter last year. On average, analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

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

Insider Buying and Selling

In other Comfort Systems USA news, insider Brian E. Lane sold 10,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $691.74, for a total value of $6,917,400.00. Following the completion of the transaction, the insider directly owned 188,046 shares of the company's stock, valued at approximately $130,078,940.04. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO William George III sold 8,436 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $692.60, for a total transaction of $5,842,773.60. Following the completion of the transaction, the chief financial officer directly owned 47,473 shares of the company's stock, valued at approximately $32,879,799.80. This trade represents a 15.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,283 shares of company stock valued at $17,627,965 in the last 90 days. 1.59% of the stock is owned by corporate insiders.

Comfort Systems USA Profile

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.