NewEdge Wealth LLC Takes $2.30 Million Position in Comfort Systems USA, Inc. $FIX

Key Points

• NewEdge Wealth acquired 1,161 shares of Comfort Systems USA worth approximately $2.30 million, while institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with earnings per share of $12.53 and revenue of $3.27 billion, up 50.3% year over year and above analyst estimates.
• The company raised its quarterly dividend from $0.80 to $0.90 per share. Analysts maintain a consensus “Buy” rating with an average price target of $2,040.

NewEdge Wealth LLC acquired a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,161 shares of the construction company's stock, valued at approximately $2,301,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Comfort Systems USA by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock valued at $4,022,597,000 after acquiring an additional 625,567 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Comfort Systems USA during the second quarter worth $6,734,037,000. State Street Corp increased its position in shares of Comfort Systems USA by 35.6% during the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock worth $1,333,367,000 after purchasing an additional 375,118 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Comfort Systems USA by 39.0% during the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after purchasing an additional 332,441 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Comfort Systems USA by 7.4% during the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock valued at $878,454,000 after purchasing an additional 73,727 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Insider Buying and Selling

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the completion of the transaction, the director directly owned 62,115 shares of the company's stock, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rhoman J. Hardy sold 342 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the sale, the director owned 1,890 shares of the company's stock, valued at approximately $3,591,151.20. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 17,096 shares of company stock worth $31,186,647. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Stock Performance

Shares of FIX stock opened at $1,674.43 on Friday. The firm has a market capitalization of $58.92 billion, a price-to-earnings ratio of 41.18 and a beta of 1.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. The business has a fifty day moving average of $1,788.02 and a 200 day moving average of $1,655.06. Comfort Systems USA, Inc. has a 1 year low of $670.19 and a 1 year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating analysts' consensus estimates of $10.45 by $2.08. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the company earned $6.53 earnings per share. The company's revenue was up 50.3% on a year-over-year basis. As a group, research analysts expect that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Thursday, August 13th will be issued a $0.90 dividend. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, August 13th. This represents a $3.60 annualized dividend and a yield of 0.2%. Comfort Systems USA's dividend payout ratio is currently 8.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FIX shares. KeyCorp boosted their target price on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a research note on Monday, July 27th. Oppenheimer assumed coverage on Comfort Systems USA in a research note on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price target for the company. Erste Group Bank downgraded Comfort Systems USA from a "buy" rating to a "hold" rating in a report on Wednesday, July 15th. Stifel Nicolaus set a $1,910.00 price target on Comfort Systems USA in a research note on Monday, July 27th. Finally, The Goldman Sachs Group assumed coverage on shares of Comfort Systems USA in a report on Thursday, July 9th. They set a "buy" rating and a $2,159.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $2,040.00.

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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