Pallas Capital Advisors LLC Grows Position in Comfort Systems USA, Inc. $FIX

Key Points

• Pallas Capital Advisors LLC has increased its stake in Comfort Systems USA, Inc. by 17.0% during the 2nd quarter, acquiring an additional 3,114 shares for a total of 21,420 shares worth approximately $11.5 million.
• Comfort Systems USA recently declared a quarterly dividend increase from $0.45 to $0.50 per share, reflecting a 0.3% dividend yield and a payout ratio of 10.28%.
• The company reported a strong quarterly earnings performance, with $6.53 EPS, beating the consensus estimate and showing a 20.1% increase in revenue year-over-year.

Pallas Capital Advisors LLC raised its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 17.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,420 shares of the construction company's stock after purchasing an additional 3,114 shares during the quarter. Pallas Capital Advisors LLC owned 0.06% of Comfort Systems USA worth $11,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in Comfort Systems USA by 13.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,556 shares of the construction company's stock valued at $824,000 after purchasing an additional 296 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Comfort Systems USA by 27.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock worth $364,000 after acquiring an additional 239 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Comfort Systems USA by 97.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock worth $2,377,000 after acquiring an additional 3,644 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Comfort Systems USA by 256.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 2,040 shares of the construction company's stock worth $658,000 after acquiring an additional 1,467 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in shares of Comfort Systems USA by 9.8% in the 1st quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock worth $324,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Up 4.9%

NYSE FIX traded up $37.31 during trading on Thursday, reaching $800.22. 366,233 shares of the company's stock traded hands, compared to its average volume of 381,659. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. The firm has a market cap of $28.23 billion, a price-to-earnings ratio of 41.12 and a beta of 1.54. The company's 50 day simple moving average is $678.71 and its two-hundred day simple moving average is $510.58. Comfort Systems USA, Inc. has a 12-month low of $276.44 and a 12-month high of $806.58.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, beating analysts' consensus estimates of $4.84 by $1.69. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The company's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.74 EPS. As a group, sell-side analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Insider Transactions at Comfort Systems USA

In other news, CFO William George III sold 8,436 shares of Comfort Systems USA stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $692.60, for a total value of $5,842,773.60. Following the transaction, the chief financial officer owned 47,473 shares of the company's stock, valued at $32,879,799.80. The trade was a 15.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO T Mckenna Trent sold 4,400 shares of Comfort Systems USA stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $716.63, for a total transaction of $3,153,172.00. Following the completion of the transaction, the chief operating officer directly owned 21,639 shares in the company, valued at approximately $15,507,156.57. The trade was a 16.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,783 shares of company stock worth $18,710,798. 1.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on FIX. DA Davidson raised their target price on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Stifel Nicolaus raised their target price on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a report on Friday, July 11th. UBS Group raised their target price on shares of Comfort Systems USA from $710.00 to $875.00 and gave the stock a "buy" rating in a report on Monday. Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Finally, Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $668.60.

About Comfort Systems USA

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.