Legal & General Group Plc Acquires 60,315 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Legal & General Group Plc nearly doubled its stake in Comfort Systems USA during the fourth quarter, buying 60,315 additional shares and bringing its holding to 121,860 shares valued at about $113.7 million.
• Wall Street sentiment remains positive, with multiple analysts boosting ratings and price targets; the stock currently carries a consensus Buy rating and an average target price of $1,969.33.
• Comfort Systems USA posted strong quarterly results, including EPS of $10.51 versus expectations of $6.81 and revenue growth of 56.5% year over year, while also raising its quarterly dividend to $0.80 per share.

Legal & General Group Plc lifted its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 98.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,860 shares of the construction company's stock after buying an additional 60,315 shares during the period. Legal & General Group Plc owned about 0.35% of Comfort Systems USA worth $113,731,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ethic Inc. lifted its position in shares of Comfort Systems USA by 80.5% in the 4th quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock worth $1,565,000 after purchasing an additional 748 shares during the period. Spire Wealth Management lifted its position in shares of Comfort Systems USA by 658.1% in the 4th quarter. Spire Wealth Management now owns 5,390 shares of the construction company's stock worth $5,031,000 after purchasing an additional 4,679 shares during the period. Caerus Investment Advisors LLC purchased a new stake in shares of Comfort Systems USA in the 3rd quarter worth approximately $767,000. Moran Wealth Management LLC lifted its position in shares of Comfort Systems USA by 34.0% in the 4th quarter. Moran Wealth Management LLC now owns 28,357 shares of the construction company's stock worth $26,465,000 after purchasing an additional 7,192 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Comfort Systems USA by 3,378.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 84,731 shares of the construction company's stock worth $79,079,000 after purchasing an additional 82,295 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Monday. Wall Street Zen cut shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Glj Research assumed coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target for the company. 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 research report on Friday, April 24th. Finally, Stifel Nicolaus upped their price target on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Comfort Systems USA currently has a consensus rating of "Buy" and a consensus target price of $1,969.33.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, insider Brian E. Lane sold 11,113 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the completion of the transaction, the insider owned 161,089 shares of the company's stock, valued at approximately $317,319,555.76. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rhoman J. Hardy sold 342 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the completion of the transaction, the director directly owned 1,890 shares of the company's stock, valued at approximately $3,591,151.20. This represents a 15.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,694 shares of company stock valued at $54,374,425 over the last three months. Company insiders own 1.24% of the company's stock.

Comfort Systems USA Trading Down 0.5%

NYSE:FIX opened at $1,857.34 on Friday. Comfort Systems USA, Inc. has a 52 week low of $465.05 and a 52 week high of $2,073.99. The firm has a 50 day moving average of $1,684.30 and a 200 day moving average of $1,318.83. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $65.38 billion, a price-to-earnings ratio of 53.59 and a beta of 1.70.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The construction company reported $10.51 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 during the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter in the prior year, the company posted $4.75 earnings per share. Comfort Systems USA's revenue for the quarter was up 56.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comfort Systems USA, Inc. will post 43.17 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 given a dividend of $0.80 per share. 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 dividend 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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