OLD National Bancorp IN Invests $208,000 in Comfort Systems USA, Inc. $FIX

Key Points

• OLD National Bancorp IN invested approximately $208,000 in Comfort Systems USA, acquiring 388 shares during the 2nd quarter.
• The company reported a 20.1% year-over-year revenue increase, achieving $2.17 billion in revenue for the quarter with earnings per share of $6.53.
• Comfort Systems USA recently increased its quarterly dividend from $0.45 to $0.50, reflecting a 10.28% dividend payout ratio.

OLD National Bancorp IN acquired a new position in shares of 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 and Exchange Commission (SEC). The fund acquired 388 shares of the construction company's stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently modified their holdings of FIX. UMB Bank n.a. grew its holdings in shares of Comfort Systems USA by 11.7% during the first quarter. UMB Bank n.a. now owns 1,096 shares of the construction company's stock worth $353,000 after purchasing an additional 115 shares in the last quarter. Portside Wealth Group LLC grew its holdings in shares of Comfort Systems USA by 20.9% during the first quarter. Portside Wealth Group LLC now owns 1,409 shares of the construction company's stock worth $454,000 after purchasing an additional 244 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Comfort Systems USA by 27.7% during the first quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock worth $364,000 after purchasing an additional 239 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Comfort Systems USA by 23.1% during the first quarter. GAMMA Investing LLC now owns 789 shares of the construction company's stock worth $254,000 after purchasing an additional 148 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Comfort Systems USA during the first quarter worth about $2,135,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

Shares of FIX stock opened at $844.36 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. Comfort Systems USA, Inc. has a fifty-two week low of $276.44 and a fifty-two week high of $852.31. The stock has a 50 day moving average price of $741.96 and a two-hundred day moving average price of $556.54. The company has a market capitalization of $29.79 billion, a P/E ratio of 43.39 and a beta of 1.58.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%.The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company posted $3.74 earnings per share. The business's revenue was up 20.1% on a year-over-year basis. Analysts expect that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. DA Davidson boosted their target price on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Wednesday. Wall Street Zen upgraded Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. William Blair assumed coverage on Comfort Systems USA in a research report on Thursday, September 11th. They issued an "outperform" rating for the company. Finally, Stifel Nicolaus boosted their target price on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Comfort Systems USA presently has a consensus rating of "Moderate Buy" and a consensus price target of $668.60.

Insider Activity at Comfort Systems USA

In related news, CAO Julie Shaeff sold 1,369 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $704.50, for a total transaction of $964,460.50. Following the completion of the transaction, the chief accounting officer owned 16,023 shares in the company, valued at $11,288,203.50. This represents a 7.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pablo G. Mercado sold 1,078 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $695.88, for a total value of $750,158.64. Following the transaction, the director owned 6,500 shares of the company's stock, valued at approximately $4,523,220. This represents a 14.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,783 shares of company stock valued at $18,710,798 over the last 90 days. Company insiders own 1.59% of the company's stock.

Comfort Systems USA Profile

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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