Panagora Asset Management Inc. Raises Position in Comfort Systems USA, Inc. $FIX

Key Points

• Panagora Asset Management Inc. significantly increased its stake in Comfort Systems USA, owning 111,837 shares after a 149.8% increase, valuing its holdings at approximately $36 million as of the latest SEC filing.
• Comfort Systems USA reported strong Q2 earnings with an EPS of $6.53, surpassing estimates by $1.69 and achieving a revenue of $2.17 billion, a 20.1% increase from the previous year.
• The company also announced a dividend increase from $0.45 to $0.50 per share, marking an annualized dividend yield of 0.3% and a payout ratio of 10.28%.

Panagora Asset Management Inc. raised its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 149.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,837 shares of the construction company's stock after buying an additional 67,058 shares during the period. Panagora Asset Management Inc. owned approximately 0.32% of Comfort Systems USA worth $36,048,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Comfort Systems USA by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 3,802,542 shares of the construction company's stock valued at $1,225,673,000 after buying an additional 21,847 shares during the period. Westfield Capital Management Co. LP boosted its position in Comfort Systems USA by 0.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 889,639 shares of the construction company's stock valued at $286,757,000 after buying an additional 4,512 shares during the period. JPMorgan Chase & Co. boosted its position in Comfort Systems USA by 36.4% in the 1st quarter. JPMorgan Chase & Co. now owns 519,437 shares of the construction company's stock valued at $167,430,000 after buying an additional 138,541 shares during the period. Dimensional Fund Advisors LP boosted its position in Comfort Systems USA by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 388,638 shares of the construction company's stock valued at $125,253,000 after buying an additional 20,854 shares during the period. Finally, Northern Trust Corp boosted its position in Comfort Systems USA by 0.9% in the 1st quarter. Northern Trust Corp now owns 317,615 shares of the construction company's stock valued at $102,377,000 after buying an additional 2,794 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Price Performance

Shares of NYSE:FIX opened at $703.88 on Friday. The company's fifty day moving average price is $619.30 and its 200 day moving average price is $476.08. Comfort Systems USA, Inc. has a 12 month low of $276.44 and a 12 month high of $733.24. 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 capitalization of $24.83 billion, a P/E ratio of 36.17 and a beta of 1.49.

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

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were paid a $0.50 dividend. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Thursday, August 14th. Comfort Systems USA's dividend payout ratio (DPR) is presently 10.28%.

Analyst Upgrades and Downgrades

FIX has been the subject of several recent analyst reports. Northcoast Research cut shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group lifted their price objective on shares of Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Stifel Nicolaus lifted their price target on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $635.60.

Insider Buying and Selling

In other Comfort Systems USA news, CAO Julie Shaeff sold 1,369 shares of Comfort Systems USA stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $704.50, for a total value of $964,460.50. Following the transaction, the chief accounting officer directly owned 16,023 shares in the company, valued at approximately $11,288,203.50. The trade was a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William George III sold 8,436 shares of Comfort Systems USA stock in a transaction on Friday, August 8th. The shares were sold at an average price of $692.60, for a total transaction of $5,842,773.60. Following the completion of the transaction, the chief financial officer owned 47,473 shares in the company, valued at approximately $32,879,799.80. This represents a 15.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,283 shares of company stock valued at $21,682,525 in the last quarter. Corporate insiders own 1.59% of the company's stock.

Comfort Systems USA Company 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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