JPMorgan Chase & Co. Acquires 138,541 Shares of Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• JPMorgan Chase & Co. increased its stake in Comfort Systems USA, Inc. by 36.4% in Q1, now holding 519,437 shares valued at approximately $167.4 million.
• Comfort Systems USA's recent quarterly earnings exceeded expectations with an EPS of $6.53, up significantly from last year, and revenues rose by 20.1% year-over-year to $2.17 billion.
• The company announced a dividend increase to $0.50 per share, showcasing a positive growth trend, with the ex-dividend date set for August 14.

JPMorgan Chase & Co. raised its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 36.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 519,437 shares of the construction company's stock after purchasing an additional 138,541 shares during the period. JPMorgan Chase & Co. owned 1.47% of Comfort Systems USA worth $167,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tradewinds Capital Management LLC lifted its position in shares of Comfort Systems USA by 49.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock worth $26,000 after purchasing an additional 27 shares during the period. Versant Capital Management Inc lifted its position in shares of Comfort Systems USA by 257.1% in the 1st quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock worth $32,000 after purchasing an additional 72 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Comfort Systems USA by 54.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company's stock worth $34,000 after purchasing an additional 37 shares during the period. Colonial Trust Co SC lifted its position in shares of Comfort Systems USA by 352.6% in the 4th quarter. Colonial Trust Co SC now owns 86 shares of the construction company's stock worth $36,000 after purchasing an additional 67 shares during the period. Finally, Rothschild Investment LLC lifted its position in shares of Comfort Systems USA by 106.9% in the 1st quarter. Rothschild Investment LLC now owns 120 shares of the construction company's stock worth $39,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Northcoast Research downgraded shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. DA Davidson boosted their price target on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. UBS Group boosted their target price on shares of Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Stifel Nicolaus boosted their target price on shares of Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Comfort Systems USA presently has a consensus rating of "Moderate Buy" and an average price target of $635.60.

Comfort Systems USA Stock Down 1.8%

Comfort Systems USA stock opened at $689.53 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. Comfort Systems USA, Inc. has a 12-month low of $276.44 and a 12-month high of $733.24. The firm's fifty day moving average is $575.61 and its 200 day moving average is $456.06. The company has a market capitalization of $24.33 billion, a PE ratio of 35.43 and a beta of 1.49.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, beating analysts' consensus estimates of $4.84 by $1.69. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.97 billion. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. Comfort Systems USA's quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.74 EPS. As a group, sell-side analysts predict that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Thursday, August 14th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, August 14th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.25%.

Insider Transactions at Comfort Systems USA

In other news, COO T Mckenna Trent sold 4,400 shares of the company's 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 sale, the chief operating officer owned 21,639 shares in the company, valued at $15,507,156.57. This represents a 16.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Julie Shaeff sold 1,369 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $704.50, for a total transaction of $964,460.50. Following the transaction, the chief accounting officer owned 16,023 shares of the company's stock, valued at approximately $11,288,203.50. The trade was a 7.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,205 shares of company stock worth $20,932,366. 1.59% of the stock is owned by insiders.

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.

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