Proficio Capital Partners LLC Raises Position in Comfort Systems USA, Inc. $FIX

Key Points

• Proficio Capital Partners increased its Comfort Systems USA stake by 309.7% in the second quarter, while institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported stronger-than-expected 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 per share.
• Analysts maintain a broadly positive outlook, with an average “Buy” rating and a consensus price target of $2,082.86; however, company insiders have sold roughly $56.3 million of stock over the past 90 days.

Proficio Capital Partners LLC grew its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 309.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,479 shares of the construction company's stock after acquiring an additional 1,118 shares during the period. Proficio Capital Partners LLC's holdings in Comfort Systems USA were worth $2,931,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Jones Financial Companies Lllp acquired a new position in Comfort Systems USA during the 2nd quarter worth $26,000. Core Wealth Advisors LLC acquired a new stake in Comfort Systems USA in the 4th quarter valued at about $28,000. Avalon Trust Co acquired a new stake in Comfort Systems USA in the 2nd quarter valued at about $32,000. Field & Main Bank purchased a new position in shares of Comfort Systems USA in the 2nd quarter valued at about $32,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Comfort Systems USA in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

NYSE FIX opened at $1,548.52 on Tuesday. The company has a fifty day moving average of $1,736.85 and a two-hundred day moving average of $1,674.09. The company has a market capitalization of $54.49 billion, a PE ratio of 38.08 and a beta of 1.69. Comfort Systems USA, Inc. has a 1 year low of $670.19 and a 1 year high of $2,073.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, topping analysts' consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The business's revenue was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.53 earnings per share. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Thursday, August 13th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date was Thursday, August 13th. Comfort Systems USA's payout ratio is 8.85%.

Insider Transactions 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 shares were sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the sale, the chief financial officer owned 30,250 shares in the company, valued at $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 available at the SEC website. Also, Director Franklin Myers sold 6,700 shares of the firm's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the transaction, the director directly owned 62,115 shares in the company, valued at $121,401,904.05. The trade was a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 32,778 shares of company stock worth $56,306,777. Insiders own 1.24% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group set a $2,100.00 target price on shares of Comfort Systems USA in a research note on Thursday, August 20th. Stifel Nicolaus set a $1,910.00 price target on shares of Comfort Systems USA in a research note on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a report on Friday, July 17th. DA Davidson started coverage on shares of Comfort Systems USA in a research report on Friday, August 21st. They issued a "buy" rating and a $2,100.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They set a "buy" rating and a $2,159.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Comfort Systems USA presently has an average rating of "Buy" and a consensus price target of $2,082.86.

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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