Norges Bank Purchases New Position in Comfort Systems USA, Inc. $FIX

Key Points

• Norges Bank disclosed a new stake in Comfort Systems USA, buying 503,173 shares valued at about $469.6 million, or roughly 1.43% of the company.
• Comfort Systems USA reported a strong quarter, with EPS of $10.51 and revenue of $2.87 billion, both well above analyst expectations and up 56.5% year over year.
• The company raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain constructive overall with a consensus Buy rating and average price target of $1,969.33.

Norges Bank purchased a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 503,173 shares of the construction company's stock, valued at approximately $469,606,000. Norges Bank owned approximately 1.43% of Comfort Systems USA as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of Comfort Systems USA in the 4th quarter valued at approximately $3,702,000. Fideuram Asset Management Ireland dac bought a new stake in Comfort Systems USA during the fourth quarter worth approximately $1,681,000. FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in Comfort Systems USA during the fourth quarter worth approximately $201,000. Fiducient Advisors LLC bought a new stake in Comfort Systems USA during the fourth quarter worth approximately $569,000. Finally, National Pension Service bought a new stake in Comfort Systems USA during the fourth quarter worth approximately $43,906,000. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

Shares of NYSE FIX opened at $1,783.45 on Tuesday. The business has a fifty day simple moving average of $1,699.15 and a 200 day simple moving average of $1,330.69. 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 $62.78 billion, a price-to-earnings ratio of 51.46 and a beta of 1.66. Comfort Systems USA, Inc. has a one year low of $465.05 and a one year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, beating analysts' consensus estimates of $6.81 by $3.70. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates 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 period in the prior year, the company posted $4.75 earnings per share. Sell-side analysts expect that Comfort Systems USA, Inc. will post 43.38 EPS for the current 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 $0.80 dividend. 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 dividend payout ratio is currently 9.23%.

Insiders Place Their Bets

In related news, CFO William George III sold 4,000 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $1,948.17, for a total value of $7,792,680.00. Following the completion of the transaction, the chief financial officer directly owned 33,804 shares in the company, valued at approximately $65,855,938.68. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Franklin Myers sold 4,500 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $1,902.57, for a total value of $8,561,565.00. Following the completion of the transaction, the director owned 68,983 shares of the company's stock, valued at $131,244,986.31. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,078 shares of company stock valued at $46,651,175 in the last ninety days. 1.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FIX has been the subject of a number of recent analyst reports. KeyCorp raised Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price for the company in a research report on Friday, April 24th. Glj Research initiated coverage on Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 target price for the company. Wall Street Zen cut Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Oppenheimer initiated coverage on Comfort Systems USA in a research report on Thursday. They set an "outperform" rating and a $2,200.00 target price for the company. Finally, Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $1,969.33.

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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