LGT Group Foundation Invests $275,000 in Comfort Systems USA, Inc. $FIX

Key Points

• LGT Group Foundation has acquired a new stake in Comfort Systems USA, Inc., purchasing 854 shares valued at approximately $275,000.
• Multiple hedge funds have increased their positions in Comfort Systems USA, with JPMorgan Chase & Co. notably growing its holdings by 36.4% during the first quarter.
• Following a strong quarterly earnings report, analysts have raised target prices for the stock, with UBS Group increasing their target from $545.00 to $710.00 and assigning a "buy" rating.

LGT Group Foundation purchased a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 854 shares of the construction company's stock, valued at approximately $275,000.

A number of other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Comfort Systems USA by 39,575.2% in the first quarter. GAMMA Investing LLC now owns 254,318 shares of the construction company's stock valued at $81,974,000 after purchasing an additional 253,677 shares in the last quarter. Nuveen LLC purchased a new position in Comfort Systems USA during the 1st quarter worth approximately $74,634,000. Voya Investment Management LLC increased its position in Comfort Systems USA by 824.2% during the fourth quarter. Voya Investment Management LLC now owns 233,553 shares of the construction company's stock worth $98,985,000 after buying an additional 208,283 shares during the period. Bain Capital Public Equity Management II LLC lifted its stake in Comfort Systems USA by 307.2% in the fourth quarter. Bain Capital Public Equity Management II LLC now owns 205,723 shares of the construction company's stock valued at $87,239,000 after buying an additional 155,204 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in shares of Comfort Systems USA by 147.4% in the first quarter. Artemis Investment Management LLP now owns 248,238 shares of the construction company's stock valued at $80,015,000 after acquiring an additional 147,885 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Comfort Systems USA Stock Performance

Shares of Comfort Systems USA stock traded up $10.44 on Monday, reaching $691.30. 116,823 shares of the company were exchanged, compared to its average volume of 471,031. The company's 50-day moving average is $578.99 and its two-hundred day moving average is $458.28. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 35.56 and a beta of 1.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. Comfort Systems USA, Inc. has a 1-year low of $276.44 and a 1-year high of $733.24.

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

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, August 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio is presently 10.28%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group raised their price objective on shares of Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Northcoast Research cut Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. DA Davidson increased their target price on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus upped their price objective on shares of Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Comfort Systems USA has a consensus rating of "Moderate Buy" and an average target price of $635.60.

Insider Buying and Selling at Comfort Systems USA

In other news, CFO William George III sold 8,436 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $692.60, for a total value of $5,842,773.60. Following the sale, the chief financial officer owned 47,473 shares in the company, valued at approximately $32,879,799.80. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Darcy Anderson sold 8,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $506.82, for a total value of $4,054,560.00. Following the transaction, the director owned 26,535 shares of the company's stock, valued at $13,448,468.70. This represents a 23.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,205 shares of company stock worth $20,932,366 over the last quarter. Insiders own 1.59% of the company's stock.

About Comfort Systems USA

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.