Lansforsakringar Fondforvaltning AB publ Acquires New Position in Comfort Systems USA, Inc. $FIX

Key Points

• Lansforsakringar Fondforvaltning opened a new position in Comfort Systems USA during the first quarter, buying 7,963 shares worth about $11.0 million.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 beating estimates and revenue of $2.87 billion topping forecasts, while revenue jumped 56.5% year over year.
• The company also raised its dividend to $0.80 per quarter, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target near $1,991.50.

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,963 shares of the construction company's stock, valued at approximately $10,981,000.

Several other hedge funds also recently made changes to their positions in FIX. Ameriflex Group Inc. lifted its stake in Comfort Systems USA by 100.0% during the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock worth $25,000 after purchasing an additional 15 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in shares of Comfort Systems USA during the fourth quarter worth $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Comfort Systems USA in the 4th quarter worth about $33,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Comfort Systems USA by 29.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after buying an additional 9 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in shares of Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Insider Activity

In related news, Director William J. Sandbrook sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total transaction of $2,599,005.00. Following the transaction, the director owned 7,666 shares in the company, valued at $13,282,648.22. This trade represents a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Franklin Myers sold 6,700 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the sale, the director directly owned 62,115 shares in the company, valued at approximately $121,401,904.05. The trade was a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,778 shares of company stock worth $59,746,124 in the last 90 days. 1.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FIX has been the topic of a number of recent research reports. Stifel Nicolaus raised their target price on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Glj Research initiated coverage on Comfort Systems USA in a report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target on the stock. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Erste Group Bank assumed coverage on Comfort Systems USA in a research report on Friday, June 5th. They issued a "buy" rating on the stock. Finally, KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target for the company in a report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,991.50.

Comfort Systems USA Stock Performance

Shares of FIX stock opened at $1,861.01 on Thursday. Comfort Systems USA, Inc. has a 12-month low of $513.99 and a 12-month high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market capitalization of $65.51 billion, a price-to-earnings ratio of 53.69 and a beta of 1.66. The business has a 50 day simple moving average of $1,883.01 and a 200 day simple moving average of $1,478.21.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, beating 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 the consensus estimate of $2.39 billion. During the same quarter in the previous year, the business earned $4.75 EPS. The firm's revenue for the quarter was up 56.5% on a year-over-year basis. On average, equities research analysts anticipate that Comfort Systems USA, Inc. will post 43.39 EPS for the current 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. The ex-dividend date was Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's payout ratio is currently 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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