Louisiana State Employees Retirement System Invests $2.48 Million in Comfort Systems USA, Inc. $FIX

Key Points

• Louisiana State Employees Retirement System disclosed a new first-quarter stake in Comfort Systems USA, buying 1,800 shares valued at about $2.48 million.
• Institutional interest in the stock remains high, with hedge funds and other investors making additional purchases and institutions now holding 96.51% of Comfort Systems USA shares.
• Comfort Systems USA reported a strong quarter, with EPS of $10.51 and revenue of $2.87 billion, both beating estimates, while analysts largely remain bullish with an average Buy rating and a target price near $1,991.50.

Louisiana State Employees Retirement System purchased a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,800 shares of the construction company's stock, valued at approximately $2,482,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FIX. Prudential PLC acquired a new position in Comfort Systems USA in the 4th quarter valued at about $6,922,000. Ethic Inc. increased its holdings in shares of Comfort Systems USA by 80.5% during the 4th quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock worth $1,565,000 after buying an additional 748 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Comfort Systems USA by 230.4% during the 4th quarter. BNP Paribas Financial Markets now owns 57,199 shares of the construction company's stock valued at $53,383,000 after buying an additional 39,888 shares during the period. Spire Wealth Management raised its position in shares of Comfort Systems USA by 658.1% during the 4th quarter. Spire Wealth Management now owns 5,390 shares of the construction company's stock valued at $5,031,000 after buying an additional 4,679 shares during the period. Finally, Moran Wealth Management LLC lifted its holdings in Comfort Systems USA by 34.0% in the fourth quarter. Moran Wealth Management LLC now owns 28,357 shares of the construction company's stock valued at $26,465,000 after acquiring an additional 7,192 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on FIX shares. UBS Group raised their target price on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Stifel Nicolaus upped their price target on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Erste Group Bank initiated coverage on Comfort Systems USA in a research report on Friday, June 5th. They set a "buy" rating for the company. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Monday, May 25th. Finally, Glj Research began 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 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $1,991.50.

Comfort Systems USA Trading Up 5.2%

NYSE:FIX opened at $1,950.98 on Tuesday. Comfort Systems USA, Inc. has a 12-month low of $510.00 and a 12-month high of $2,073.99. The firm has a market cap of $68.67 billion, a PE ratio of 56.29 and a beta of 1.66. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $1,872.89 and a 200 day moving average price of $1,465.55.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping the consensus estimate of $6.81 by $3.70. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.Comfort Systems USA's revenue was up 56.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.75 EPS. Sell-side analysts anticipate that Comfort Systems USA, Inc. will post 43.39 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 paid a dividend of $0.80 per share. The ex-dividend date 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 dividend yield of 0.2%. Comfort Systems USA's payout ratio is currently 9.23%.

Insider Transactions at Comfort Systems USA

In other news, CFO William George III sold 1,000 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total value of $2,020,960.00. Following the sale, the chief financial officer directly owned 32,804 shares in the company, valued at approximately $66,295,571.84. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Julie Shaeff sold 1,123 shares of Comfort Systems USA stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the sale, the chief accounting officer directly owned 12,624 shares of the company's stock, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,778 shares of company stock valued at $59,746,124 over the last quarter. Insiders own 1.24% of the company's stock.

About Comfort Systems USA

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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