Pictet Asset Management Holding SA Has $23.06 Million Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• Pictet Asset Management increased its stake in Comfort Systems USA by 401.9% in Q4, owning 24,708 shares worth about $23.06 million (roughly 0.07% of the company) after buying an additional 19,785 shares.
• Comfort Systems delivered a blowout quarter — $10.51 EPS versus $6.81 expected and $2.87 billion in revenue (up 56.5% YoY) — sending the stock toward its 12‑month high amid a consensus analyst rating of Moderate Buy and an average price target of $1,923.20.
• The company raised its quarterly dividend to $0.80 (annualized $3.20) while institutional ownership remains high at 96.51%, though insiders have sold 38,788 shares in the last 90 days.

Pictet Asset Management Holding SA lifted its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 401.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,708 shares of the construction company's stock after buying an additional 19,785 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of Comfort Systems USA worth $23,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quent Capital LLC bought a new stake in shares of Comfort Systems USA in the third quarter worth about $25,000. Ameriflex Group Inc. raised its holdings in Comfort Systems USA by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock worth $25,000 after buying an additional 15 shares during the period. Eastern Bank bought a new position in Comfort Systems USA in the third quarter valued at approximately $31,000. JFS Wealth Advisors LLC boosted its holdings in shares of Comfort Systems USA by 29.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 10 shares during the period. Finally, ORG Partners LLC boosted its holdings in shares of Comfort Systems USA by 63.0% in the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 17 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Comfort Systems USA Trading Up 7.0%

NYSE FIX opened at $1,844.64 on Friday. Comfort Systems USA, Inc. has a 12 month low of $408.96 and a 12 month high of $1,855.43. 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 stock has a 50 day moving average of $1,497.63 and a 200-day moving average of $1,186.36. The company has a market cap of $64.93 billion, a PE ratio of 53.22 and a beta of 1.60.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the company earned $4.75 earnings per share. The firm's revenue for the quarter was up 56.5% on a year-over-year basis. On average, equities research analysts anticipate that Comfort Systems USA, Inc. will post 43.42 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, May 15th. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio (DPR) is presently 8.08%.

Analyst Ratings Changes

FIX has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 3rd. DA Davidson increased their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. Glj Research started coverage on Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,923.20.

Insider Buying and Selling

In related news, insider Brian E. Lane sold 9,365 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $1,453.12, for a total value of $13,608,468.80. Following the completion of the sale, the insider directly owned 171,523 shares in the company, valued at approximately $249,243,501.76. This trade represents a 5.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Darcy Anderson sold 4,500 shares of Comfort Systems USA stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $1,369.74, for a total value of $6,163,830.00. Following the transaction, the director owned 18,035 shares of the company's stock, valued at $24,703,260.90. The trade was a 19.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 38,788 shares of company stock worth $56,276,043 in the last 90 days. 1.24% of the stock is owned by corporate insiders.

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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