HB Wealth Management LLC Buys 623 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• HB Wealth Management LLC increased its stake in Comfort Systems USA by 24.4% in the first quarter, buying 623 more shares and bringing its total holdings to 3,173 shares worth about $4.38 million.
• Analysts remain mostly bullish on FIX, with nine Buy ratings and two Hold ratings; recent price targets ranged as high as $2,200, and the consensus target is $1,991.50.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 and revenue of $2.87 billion, both well above estimates, and it also raised its quarterly dividend to $0.80 per share.

HB Wealth Management LLC lifted its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 24.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,173 shares of the construction company's stock after buying an additional 623 shares during the quarter. HB Wealth Management LLC's holdings in Comfort Systems USA were worth $4,376,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FIX. Vanguard Group Inc. increased its holdings in Comfort Systems USA by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after acquiring an additional 625,567 shares during the period. State Street Corp boosted its holdings in Comfort Systems USA by 35.6% in the 4th quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock valued at $1,333,367,000 after purchasing an additional 375,118 shares during the period. Geode Capital Management LLC boosted its holdings in Comfort Systems USA by 39.0% in the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after purchasing an additional 332,441 shares during the period. Invesco Ltd. grew its position in shares of Comfort Systems USA by 7.4% during the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock valued at $878,454,000 after purchasing an additional 73,727 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Comfort Systems USA by 22.1% during the 4th quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company's stock valued at $951,883,000 after purchasing an additional 184,362 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analysts Set New Price Targets

FIX has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. KeyCorp raised Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective for the company in a research note on Friday, April 24th. Wall Street Zen cut Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. UBS Group upped their target price on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Finally, Oppenheimer started coverage on Comfort Systems USA in a report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,991.50.

Insiders Place Their Bets

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the sale, the director owned 62,115 shares in the company, valued at $121,401,904.05. This trade represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian E. Lane sold 11,113 shares of Comfort Systems USA stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the sale, the insider directly owned 161,089 shares of the company's stock, valued at approximately $317,319,555.76. This trade represents a 6.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,778 shares of company stock valued at $59,746,124 over the last quarter. Insiders own 1.24% of the company's stock.

Comfort Systems USA Trading Down 0.0%

Shares of Comfort Systems USA stock opened at $1,741.16 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. Comfort Systems USA, Inc. has a 1 year low of $513.99 and a 1 year high of $2,073.99. The firm has a market cap of $61.29 billion, a PE ratio of 50.24 and a beta of 1.66. The company has a 50 day simple moving average of $1,884.63 and a two-hundred day simple moving average of $1,489.17.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The firm had revenue of $2.87 billion for 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%. The business's revenue for the quarter was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.75 EPS. Analysts expect that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Comfort Systems USA Company 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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