Comfort Systems USA, Inc. $FIX Shares Purchased by Millennium Management LLC

Key Points

• Millennium Management LLC significantly increased its stake in Comfort Systems USA, acquiring a total of 317,852 shares, which represents a 91.0% increase in their holdings during the first quarter.
• Comfort Systems USA recently increased its quarterly dividend to $0.50 per share, up from $0.45, with a current yield of 0.3%.
• Analysts have shown strong confidence in the company, with Stifel Nicolaus raising their price target to $581.00 and DA Davidson increasing theirs to $810.00, both giving a "buy" rating.

Millennium Management LLC raised its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 91.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,852 shares of the construction company's stock after buying an additional 151,447 shares during the quarter. Millennium Management LLC owned about 0.90% of Comfort Systems USA worth $102,453,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Comfort Systems USA by 13.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,556 shares of the construction company's stock valued at $824,000 after buying an additional 296 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Comfort Systems USA by 27.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock valued at $364,000 after purchasing an additional 239 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Comfort Systems USA by 97.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock valued at $2,377,000 after purchasing an additional 3,644 shares during the period. Dynamic Advisor Solutions LLC raised its stake in shares of Comfort Systems USA by 256.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 2,040 shares of the construction company's stock valued at $658,000 after purchasing an additional 1,467 shares during the period. Finally, Spire Wealth Management raised its stake in shares of Comfort Systems USA by 9.8% during the 1st quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock valued at $324,000 after purchasing an additional 90 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FIX has been the topic of a number of analyst reports. Northcoast Research lowered Comfort Systems USA from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. DA Davidson boosted 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. Wall Street Zen upgraded Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Finally, UBS Group boosted their target price on Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $635.60.

Insider Buying and Selling

In other Comfort Systems USA news, insider Brian E. Lane sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $691.74, for a total transaction of $6,917,400.00. Following the completion of the transaction, the insider owned 188,046 shares in the company, valued at $130,078,940.04. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Julie Shaeff sold 1,369 shares of Comfort Systems USA stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $704.50, for a total transaction of $964,460.50. Following the sale, the chief accounting officer directly owned 16,023 shares of the company's stock, valued at $11,288,203.50. This represents a 7.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,283 shares of company stock valued at $17,627,965 in the last quarter. 1.59% of the stock is currently owned by insiders.

Comfort Systems USA Stock Up 6.3%

FIX traded up $44.67 during trading on Wednesday, hitting $754.20. 592,501 shares of the company's stock traded hands, compared to its average volume of 464,015. The company's 50 day simple moving average is $645.75 and its two-hundred day simple moving average is $491.69. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. Comfort Systems USA, Inc. has a 12-month low of $276.44 and a 12-month high of $757.12. The stock has a market capitalization of $26.61 billion, a price-to-earnings ratio of 38.76 and a beta of 1.54.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.84 by $1.69. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%.The company's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the business posted $3.74 EPS. Analysts predict 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 announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Thursday, August 14th were issued a $0.50 dividend. 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. The ex-dividend date of this dividend was Thursday, August 14th. Comfort Systems USA's payout ratio is presently 10.28%.

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.