Hsbc Holdings PLC Acquires 8,831 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• HSBC Holdings PLC increased its stake in Comfort Systems USA by 14.9% in the first quarter, buying 8,831 additional shares and bringing its total holding to 68,152 shares worth about $93.6 million.
• Insiders have been selling shares: CEO Brian E. Lane and CFO William George III both sold stock recently, and insiders sold 30,778 shares worth about $59.7 million over the last 90 days.
• Comfort Systems USA posted strong results and higher guidance sentiment, with quarterly EPS of $10.51 beating estimates and revenue up 56.5% year over year; analysts currently rate the stock a “Moderate Buy” with an average target price around $2,015.

Hsbc Holdings PLC boosted its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 14.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 68,152 shares of the construction company's stock after buying an additional 8,831 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of Comfort Systems USA worth $93,576,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Accredited Investors Inc. bought a new stake in shares of Comfort Systems USA during the first quarter worth $214,000. Range Financial Group LLC acquired a new stake in shares of Comfort Systems USA during the first quarter worth $473,000. Ibex Wealth Advisors bought a new stake in Comfort Systems USA in the 1st quarter valued at $212,000. Kestra Advisory Services LLC lifted its position in Comfort Systems USA by 9.4% in the 1st quarter. Kestra Advisory Services LLC now owns 6,221 shares of the construction company's stock valued at $8,579,000 after acquiring an additional 534 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Comfort Systems USA by 10.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 82,173 shares of the construction company's stock worth $113,316,000 after purchasing an additional 7,515 shares during the period. Institutional investors own 96.51% of the company's stock.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, insider Brian E. Lane sold 11,113 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total transaction 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 represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William George III sold 4,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,948.17, for a total transaction of $7,792,680.00. Following the completion of the sale, the chief financial officer owned 33,804 shares of the company's stock, valued at approximately $65,855,938.68. This represents a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,778 shares of company stock valued at $59,746,124 in the last 90 days. Company insiders own 1.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FIX shares. KeyCorp upgraded Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price for the company in a report on Friday, April 24th. UBS Group boosted their price target on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a "buy" rating in a report on Monday, June 8th. Glj Research assumed coverage on Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective for the company. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Finally, Erste Group Bank lowered Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,015.43.

Comfort Systems USA Stock Performance

Shares of NYSE FIX opened at $1,667.28 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The stock has a 50 day moving average price of $1,861.34 and a 200 day moving average price of $1,544.34. The stock has a market capitalization of $58.69 billion, a PE ratio of 48.10 and a beta of 1.66. Comfort Systems USA, Inc. has a 52 week low of $513.99 and a 52 week high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the firm earned $4.75 EPS. The business's quarterly revenue was up 56.5% on a year-over-year basis. Analysts predict that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, May 15th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Comfort Systems USA 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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