Legacy Capital Group California Inc. Takes Position in Comfort Systems USA, Inc. $FIX

Key Points

• Legacy Capital Group California Inc. opened a new position in Comfort Systems USA, buying 603 shares worth about $832,000 in the first quarter.
• Analyst sentiment remains bullish, with 10 Buy ratings and 2 Holds; the stock carries a consensus Moderate Buy rating and an average price target of about $2,015.43.
• Comfort Systems USA reported strong quarterly results, including EPS of $10.51 versus estimates of $6.81 and revenue of $2.87 billion, while also raising its quarterly dividend to $0.80 per share.

Legacy Capital Group California Inc. 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 Securities & Exchange Commission. The fund bought 603 shares of the construction company's stock, valued at approximately $832,000.

Several other large investors have also recently bought and sold shares of the stock. Coston McIsaac & Partners raised its stake in shares of Comfort Systems USA by 3.0% in the 1st quarter. Coston McIsaac & Partners now owns 239 shares of the construction company's stock valued at $329,000 after buying an additional 7 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Comfort Systems USA by 1.4% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 572 shares of the construction company's stock valued at $789,000 after acquiring an additional 8 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Comfort Systems USA by 1.3% during the 1st quarter. Fulton Bank N.A. now owns 603 shares of the construction company's stock valued at $832,000 after acquiring an additional 8 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in Comfort Systems USA by 29.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after acquiring an additional 9 shares during the period. Finally, Great Lakes Advisors LLC increased its stake in Comfort Systems USA by 3.0% in the fourth quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock valued at $291,000 after acquiring an additional 9 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FIX. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. KeyCorp raised Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target on the stock in a research note on Friday, April 24th. Erste Group Bank began coverage on Comfort Systems USA in a research report on Friday, June 5th. They issued a "buy" rating on the stock. Glj Research started coverage on Comfort Systems USA in a research note on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on Comfort Systems USA in a report on Thursday. They set a "buy" rating and a $2,159.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,015.43.

Insider Buying and Selling

In related news, 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 completion of the transaction, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Julie Shaeff sold 1,123 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the completion of the transaction, the chief accounting officer owned 12,624 shares of the company's stock, valued at $25,252,670.88. This trade represents a 8.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,778 shares of company stock valued at $59,746,124. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Stock Performance

Shares of Comfort Systems USA stock opened at $1,730.63 on Tuesday. 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 50 day simple moving average of $1,881.53 and a 200 day simple moving average of $1,522.98. Comfort Systems USA, Inc. has a fifty-two week low of $513.99 and a fifty-two week high of $2,073.99. The firm has a market cap of $60.92 billion, a P/E ratio of 49.93 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the company posted $4.75 EPS. The company's revenue was up 56.5% compared to the same quarter last year. Sell-side 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were paid a $0.80 dividend. The ex-dividend date of this dividend 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 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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