Hiddenite Capital Partners LP Takes $8.06 Million Position in Comfort Systems USA, Inc. $FIX

Key Points

• Hiddenite Capital Partners LP acquired a new stake in Comfort Systems USA, purchasing 25,000 shares valued at approximately $8 million, making it the fund's 13th largest holding.
• Comfort Systems USA's stock performed well with a quarterly EPS of $6.53, significantly beating estimates, and reported annual revenue growth of 20.1% compared to the previous year.
• The company recently increased its quarterly dividend from $0.45 to $0.50, reflecting a continued commitment to shareholder returns with a current payout ratio of 10.28%.

Hiddenite Capital Partners LP bought a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,000 shares of the construction company's stock, valued at approximately $8,058,000. Comfort Systems USA makes up approximately 2.8% of Hiddenite Capital Partners LP's holdings, making the stock its 13th biggest position. Hiddenite Capital Partners LP owned approximately 0.07% of Comfort Systems USA at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FIX. Evergreen Capital Management LLC increased its holdings in shares of Comfort Systems USA by 1.9% in the 1st quarter. Evergreen Capital Management LLC now owns 2,169 shares of the construction company's stock worth $699,000 after buying an additional 40 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Comfort Systems USA by 55.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 31,800 shares of the construction company's stock worth $10,250,000 after buying an additional 11,300 shares during the last quarter. State of Wyoming increased its holdings in shares of Comfort Systems USA by 48.5% in the 1st quarter. State of Wyoming now owns 698 shares of the construction company's stock worth $225,000 after buying an additional 228 shares during the last quarter. Ieq Capital LLC increased its holdings in shares of Comfort Systems USA by 57.7% in the 1st quarter. Ieq Capital LLC now owns 22,645 shares of the construction company's stock worth $7,299,000 after buying an additional 8,283 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Comfort Systems USA by 46.5% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 149,073 shares of the construction company's stock worth $48,051,000 after buying an additional 47,325 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

Shares of NYSE FIX traded up $8.24 during midday trading on Thursday, reaching $708.93. The company had a trading volume of 174,353 shares, compared to its average volume of 463,553. The business's 50-day simple moving average is $630.87 and its 200 day simple moving average is $481.88. The stock has a market cap of $25.01 billion, a P/E ratio of 36.45 and a beta of 1.54. Comfort Systems USA, Inc. has a 1 year low of $276.44 and a 1 year high of $733.24. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.97 billion. During the same quarter last year, the company posted $3.74 earnings per share. The business's quarterly revenue was up 20.1% on a year-over-year basis. On average, analysts forecast that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Thursday, August 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend 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 Activity

In other Comfort Systems USA news, COO T Mckenna Trent sold 4,400 shares of Comfort Systems USA stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $716.63, for a total value of $3,153,172.00. Following the completion of the transaction, the chief operating officer owned 21,639 shares of the company's stock, valued at approximately $15,507,156.57. The trade was a 16.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William George III sold 8,436 shares of Comfort Systems USA 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 sale, the chief financial officer owned 47,473 shares in the company, valued at approximately $32,879,799.80. This trade represents a 15.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,283 shares of company stock valued at $21,682,525 over the last quarter. Insiders own 1.59% of the company's stock.

Wall Street Analyst Weigh In

FIX has been the topic of a number of research reports. DA Davidson boosted their target price on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. UBS Group boosted their target price on shares of Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Finally, Stifel Nicolaus upped their price target on shares of Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $635.60.

Comfort Systems USA Company 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.