Morris Financial Concepts Inc. Makes New $231,000 Investment in Comfort Systems USA, Inc. $FIX

Key Points

• Morris Financial Concepts Inc. invested approximately $231,000 in Comfort Systems USA, purchasing 430 shares in the 2nd quarter.
• Insider selling has been notable, with COO T Mckenna Trent selling 4,400 shares for over $3 million, representing a 16.90% decrease in ownership.
• Comfort Systems USA recently raised its quarterly dividend from $0.45 to $0.50 per share, reflecting a commitment to returning value to shareholders.

Morris Financial Concepts Inc. purchased a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 430 shares of the construction company's stock, valued at approximately $231,000.

Several other hedge funds have also recently added to or reduced their stakes in FIX. Jones Financial Companies Lllp raised its position in Comfort Systems USA by 2,872,410.3% in the first quarter. Jones Financial Companies Lllp now owns 833,028 shares of the construction company's stock worth $268,510,000 after purchasing an additional 832,999 shares in the last quarter. AQR Capital Management LLC raised its position in Comfort Systems USA by 106.4% in the first quarter. AQR Capital Management LLC now owns 530,428 shares of the construction company's stock worth $165,228,000 after purchasing an additional 273,453 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Comfort Systems USA by 299.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 319,813 shares of the construction company's stock worth $103,085,000 after purchasing an additional 239,692 shares in the last quarter. Nuveen LLC acquired a new position in Comfort Systems USA in the first quarter worth about $74,634,000. Finally, Millennium Management LLC raised its position in Comfort Systems USA by 91.0% in the first quarter. Millennium Management LLC now owns 317,852 shares of the construction company's stock worth $102,453,000 after purchasing an additional 151,447 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Insider Activity

In other Comfort Systems USA news, COO T Mckenna Trent sold 4,400 shares of Comfort Systems USA stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $716.63, for a total transaction of $3,153,172.00. Following the transaction, the chief operating officer directly owned 21,639 shares in the company, valued at approximately $15,507,156.57. The trade was a 16.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Julie Shaeff sold 1,369 shares of Comfort Systems USA stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $704.50, for a total value of $964,460.50. Following the transaction, the chief accounting officer owned 16,023 shares in the company, valued at approximately $11,288,203.50. This represents a 7.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,783 shares of company stock valued at $18,710,798. Company insiders own 1.59% of the company's stock.

Comfort Systems USA Stock Down 1.7%

Shares of Comfort Systems USA stock opened at $831.86 on Wednesday. The business has a fifty day simple moving average of $752.76 and a 200 day simple moving average of $571.34. The stock has a market cap of $29.35 billion, a PE ratio of 42.75 and a beta of 1.58. The company has a quick ratio of 1.10, a current ratio of 1.13 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 $861.77.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Monday, August 15th. The construction company reported $0.90 EPS for the quarter. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%.The company had revenue of $713.90 million during the quarter. Research analysts predict that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.50 per share. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, August 14th. Comfort Systems USA's dividend payout ratio is presently 10.28%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Stifel Nicolaus raised their price objective on shares of Comfort Systems USA from $746.00 to $917.00 and gave the stock a "buy" rating in a report on Monday. DA Davidson raised their price objective on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Zacks Research lowered shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Comfort Systems USA currently has a consensus rating of "Moderate Buy" and a consensus target price of $735.80.

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.

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