New York Life Investment Management LLC Has $4.51 Million Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• New York Life Investment Management increased its Comfort Systems USA stake by 36.6% in the fourth quarter, bringing its holdings to 4,829 shares worth about $4.51 million.
• Comfort Systems USA reported strong quarterly results, including EPS of $10.51 versus expectations of $6.81 and revenue of $2.87 billion, up 56.5% year over year.
• The company raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain generally positive with an average rating of Moderate Buy and an average target price of $1,923.20.

New York Life Investment Management LLC lifted its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 36.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,829 shares of the construction company's stock after purchasing an additional 1,293 shares during the quarter. New York Life Investment Management LLC's holdings in Comfort Systems USA were worth $4,507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FIX. Ethic Inc. grew its stake 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 acquiring an additional 748 shares during the period. Spire Wealth Management boosted its stake in 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 bought a new position in Comfort Systems USA in the 3rd quarter worth about $767,000. Moran Wealth Management LLC boosted its stake in 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, Private Advisor Group LLC boosted its stake in Comfort Systems USA by 50.1% in the 3rd quarter. Private Advisor Group LLC now owns 7,781 shares of the construction company's stock worth $6,420,000 after purchasing an additional 2,598 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Stock Up 0.1%

Shares of NYSE FIX opened at $1,994.37 on Monday. Comfort Systems USA, Inc. has a 12 month low of $452.04 and a 12 month high of $2,073.99. 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 firm has a market capitalization of $70.20 billion, a price-to-earnings ratio of 57.54 and a beta of 1.70. The business has a 50-day moving average of $1,599.07 and a 200-day moving average of $1,263.40.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the firm earned $4.75 earnings per share. Comfort Systems USA's revenue was up 56.5% on a year-over-year basis. Sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 15th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's payout ratio is 9.23%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FIX shares. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. DA Davidson raised their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. Glj Research started coverage on Comfort Systems USA in a research note on Monday, April 20th. They issued a "buy" rating and a $2,001.00 target price for the company. Finally, Stifel Nicolaus raised their target price on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Comfort Systems USA presently has an average rating of "Moderate Buy" and an average target price of $1,923.20.

Insider Activity at Comfort Systems USA

In related news, CFO William George III sold 9,000 shares of the firm's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $1,434.97, for a total transaction of $12,914,730.00. Following the transaction, the chief financial officer directly owned 37,824 shares of the company's stock, valued at approximately $54,276,305.28. This trade represents a 19.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Darcy Anderson sold 4,500 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $1,369.74, for a total value of $6,163,830.00. Following the transaction, the director directly owned 18,035 shares in the company, valued at approximately $24,703,260.90. This represents a 19.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,024 shares of company stock worth $99,678,386 in the last quarter. 1.24% of the stock is owned by company insiders.

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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