Resona Asset Management Co. Ltd. Purchases New Shares in Comfort Systems USA, Inc. $FIX

Key Points

• Resona Asset Management opened a new position in Comfort Systems USA, buying 10,738 shares worth about $10.05 million in the fourth quarter.
• Comfort Systems USA reported strong quarterly results, with EPS of $10.51 and revenue of $2.87 billion, both well above analyst expectations and up 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain generally positive with a consensus rating of Moderate Buy and an average target price of $1,923.20.

Resona Asset Management Co. Ltd. purchased a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,738 shares of the construction company's stock, valued at approximately $10,054,000.

A number of other hedge funds also recently bought and sold shares of the business. Farmers & Merchants Investments Inc. raised its stake in Comfort Systems USA by 29.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after purchasing an additional 9 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in Comfort Systems USA by 29.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after purchasing an additional 10 shares in the last quarter. West Michigan Advisors LLC raised its stake in Comfort Systems USA by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 768 shares of the construction company's stock valued at $717,000 after purchasing an additional 10 shares in the last quarter. EWA LLC increased its position in Comfort Systems USA by 2.7% during the fourth quarter. EWA LLC now owns 379 shares of the construction company's stock valued at $353,000 after acquiring an additional 10 shares during the last quarter. Finally, Armstrong Advisory Group Inc. increased its position in Comfort Systems USA by 4.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 283 shares of the construction company's stock valued at $264,000 after acquiring an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Up 0.0%

FIX stock opened at $1,835.96 on Friday. The firm's fifty day simple moving average is $1,638.55 and its two-hundred day simple moving average is $1,287.55. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $64.63 billion, a price-to-earnings ratio of 52.97 and a beta of 1.70. Comfort Systems USA, Inc. has a twelve month low of $452.04 and a twelve month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The firm had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business's revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.75 earnings per share. As a group, analysts anticipate that Comfort Systems USA, Inc. will post 43.17 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be issued a $0.80 dividend. The ex-dividend date is Friday, May 15th. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.23%.

Wall Street Analyst Weigh In

FIX has been the topic of a number of analyst reports. DA Davidson boosted their price objective on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Glj Research initiated coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Zacks Research cut shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Finally, UBS Group boosted their price objective on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,923.20.

Insider Transactions at Comfort Systems USA

In other news, CFO William George III sold 9,000 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $1,434.97, for a total value of $12,914,730.00. Following the transaction, the chief financial officer directly owned 37,824 shares in the company, valued at approximately $54,276,305.28. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Franklin Myers sold 8,636 shares of the company's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $1,472.56, for a total transaction of $12,717,028.16. Following the completion of the transaction, the director owned 73,995 shares in the company, valued at approximately $108,962,077.20. The trade was a 10.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 61,024 shares of company stock valued at $99,678,386. Company insiders own 1.24% of the company's stock.

Comfort Systems USA Company 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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