Northwestern Mutual Wealth Management Co. Acquires New Position in Comfort Systems USA, Inc. $FIX

Key Points

• Northwestern Mutual Wealth Management acquired 770 shares of Comfort Systems USA worth approximately $1.53 million, while institutional investors collectively own 96.51% of the company.
• Analysts maintain a generally positive outlook, with an average rating of “Buy” and a consensus price target of $2,082.86; DA Davidson initiated coverage with a $2,100 price target.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 and revenue of $3.27 billion, up 50.3% year over year. The company also raised its quarterly dividend to $0.90, although shares recently traded down 2.9% to $1,563.47.

Northwestern Mutual Wealth Management Co. bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 770 shares of the construction company's stock, valued at approximately $1,527,000.

Other hedge funds also recently added to or reduced their stakes in the company. Signature Equity Partners LLC increased its position in shares of Comfort Systems USA by 16.7% during the first quarter. Signature Equity Partners LLC now owns 35 shares of the construction company's stock worth $48,000 after acquiring an additional 5 shares during the period. Coston McIsaac & Partners boosted its holdings in Comfort Systems USA by 3.0% in the first quarter. Coston McIsaac & Partners now owns 239 shares of the construction company's stock valued at $329,000 after purchasing an additional 7 shares during the period. Petra Financial Advisors Inc. boosted its holdings in Comfort Systems USA by 0.7% in the first quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company's stock valued at $1,489,000 after purchasing an additional 7 shares during the period. Carolina Wealth Advisors LLC grew its stake in Comfort Systems USA by 63.6% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock worth $36,000 after purchasing an additional 7 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its holdings in Comfort Systems USA by 1.4% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 572 shares of the construction company's stock worth $789,000 after purchasing an additional 8 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Comfort Systems USA

In related news, CFO William George III sold 2,554 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the sale, the chief financial officer directly owned 30,250 shares in the company, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Franklin Myers sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the sale, the director directly owned 8,495 shares of the company's stock, valued at $14,389,850.40. This trade represents a 32.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,754 shares of company stock worth $30,536,820 over the last three months. Corporate insiders own 1.24% of the company's stock.

Analyst Ratings Changes

FIX has been the subject of a number of analyst reports. DA Davidson initiated coverage on Comfort Systems USA in a research report on Friday, August 21st. They set a "buy" rating and a $2,100.00 price objective for the company. Erste Group Bank cut shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. KeyCorp boosted their price target on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Finally, Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Comfort Systems USA currently has an average rating of "Buy" and a consensus target price of $2,082.86.

Comfort Systems USA Trading Down 2.9%

Shares of Comfort Systems USA stock opened at $1,563.47 on Wednesday. The firm has a market cap of $55.02 billion, a price-to-earnings ratio of 38.45 and a beta of 1.69. The company's 50-day simple moving average is $1,769.68 and its 200-day simple moving average is $1,664.40. Comfort Systems USA, Inc. has a 52-week low of $670.19 and a 52-week high of $2,073.99. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The business's revenue was up 50.3% compared to the same quarter last year. During the same quarter last year, the firm posted $6.53 EPS. As a group, equities research analysts anticipate that Comfort Systems USA, Inc. will post 47.2 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, August 13th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.80. Comfort Systems USA's dividend payout ratio is 8.85%.

Comfort Systems USA 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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