Ieq Capital LLC Acquires New Position in Comfort Systems USA, Inc. $FIX

Key Points

• Ieq Capital acquired 71,032 shares of Comfort Systems USA worth approximately $140.8 million, giving it a 0.20% stake; institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with revenue rising 50.3% year over year to $3.27 billion and EPS of $12.53, beating estimates by $2.08. The company also raised its quarterly dividend to $0.90 per share.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and a $2,082.86 price target, although insiders sold $31.2 million of stock over the past quarter.

Ieq Capital LLC bought a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 71,032 shares of the construction company's stock, valued at approximately $140,783,000. Comfort Systems USA makes up 0.6% of Ieq Capital LLC's investment portfolio, making the stock its 20th largest position. Ieq Capital LLC owned 0.20% of Comfort Systems USA as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of FIX. BlackRock Inc. acquired a new stake in shares of Comfort Systems USA during the second quarter worth $6,734,037,000. Vanguard Group Inc. grew its holdings in shares of Comfort Systems USA by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock valued at $4,022,597,000 after buying an additional 625,567 shares during the last quarter. Norges Bank acquired a new position in shares of Comfort Systems USA in the 4th quarter valued at $469,606,000. State Street Corp increased its position in shares of 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 acquiring an additional 375,118 shares during the period. Finally, Geode Capital Management LLC raised its stake 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 worth $1,103,453,000 after acquiring an additional 332,441 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insider Activity

In related news, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the sale, the director owned 62,115 shares of the company's stock, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William George III sold 2,554 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the sale, the chief financial officer directly owned 30,250 shares of the company's stock, valued at approximately $56,254,412.50. The trade was a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,096 shares of company stock worth $31,186,647 in the last quarter. Corporate insiders own 1.24% of the company's stock.

Comfort Systems USA Price Performance

Shares of Comfort Systems USA stock opened at $1,658.28 on Friday. The firm has a market cap of $58.35 billion, a PE ratio of 40.78 and a beta of 1.69. Comfort Systems USA, Inc. has a twelve month low of $670.19 and a twelve month high of $2,073.99. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $1,783.64 and a 200 day moving average price of $1,655.08.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.45 by $2.08. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the business posted $6.53 earnings per share. Comfort Systems USA's revenue for the quarter was up 50.3% on a year-over-year basis. Sell-side analysts predict that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Thursday, August 13th will be given a dividend of $0.90 per share. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, August 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA's payout ratio is 8.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FIX. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a research report on Friday, July 17th. The Goldman Sachs Group assumed coverage on Comfort Systems USA in a report on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 price objective on the stock. Stifel Nicolaus set a $1,910.00 price objective on Comfort Systems USA in a research note on Monday, July 27th. UBS Group set a $2,100.00 target price on Comfort Systems USA in a report on Thursday. Finally, Oppenheimer initiated coverage on Comfort Systems USA in a research report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price on the stock. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $2,082.86.

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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