Quantitative Investment Management LLC Invests $2.21 Million in Comfort Systems USA, Inc. $FIX

Key Points

• Quantitative Investment Management LLC has purchased a new stake in Comfort Systems USA, acquiring 6,857 shares valued at approximately $2.21 million, as reported in their 13F filing with the SEC.
• Analysts have showcased a positive outlook for Comfort Systems USA, with multiple upgrades and an average price target of $635.60, indicating strong investor sentiment.
• The company recently announced a dividend increase from $0.45 to $0.50 per share, reflecting its commitment to returning value to shareholders.

Quantitative Investment Management LLC bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,857 shares of the construction company's stock, valued at approximately $2,210,000.

Several other hedge funds have also made changes to their positions in FIX. Hsbc Holdings PLC lifted its stake in shares of Comfort Systems USA by 31.1% in the fourth quarter. Hsbc Holdings PLC now owns 12,335 shares of the construction company's stock valued at $5,255,000 after buying an additional 2,929 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of Comfort Systems USA by 9.2% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,158 shares of the construction company's stock valued at $915,000 after buying an additional 181 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of Comfort Systems USA in the fourth quarter valued at about $242,000. Boothbay Fund Management LLC bought a new stake in shares of Comfort Systems USA in the fourth quarter valued at about $318,000. Finally, Johnson Financial Group Inc. lifted its stake in shares of Comfort Systems USA by 131.1% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the construction company's stock valued at $45,000 after buying an additional 59 shares during the period. Institutional investors own 96.51% of the company's stock.

Wall Street Analyst Weigh In

FIX has been the subject of several recent research reports. 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 increased their price target 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 increased 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 report on Friday, July 11th. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Finally, Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Comfort Systems USA currently has an average rating of "Buy" and a consensus target price of $635.60.

Insider Activity

In other Comfort Systems USA news, 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 sale, the chief financial officer owned 47,473 shares of the company's stock, valued at approximately $32,879,799.80. The trade was a 15.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO T Mckenna Trent sold 4,400 shares of Comfort Systems USA stock in a transaction 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 sale, the chief operating officer directly owned 21,639 shares of the company's stock, valued at $15,507,156.57. This represents a 16.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,283 shares of company stock worth $21,682,525. Corporate insiders own 1.59% of the company's stock.

Comfort Systems USA Price Performance

Shares of FIX traded down $26.13 during mid-day trading on Friday, hitting $703.88. 270,818 shares of the company traded hands, compared to its average volume of 466,194. Comfort Systems USA, Inc. has a one year low of $276.44 and a one year high of $733.24. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $615.19 and a 200 day moving average of $473.69. The stock has a market capitalization of $24.83 billion, a price-to-earnings ratio of 36.17 and a beta of 1.49.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, beating 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 business had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the firm earned $3.74 earnings per share. Comfort Systems USA's revenue was up 20.1% compared to the same quarter last year. As a group, equities analysts expect 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 announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio (DPR) is presently 10.28%.

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.