Royal Bank of Canada Buys 11,798 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Royal Bank of Canada increased its stake in Comfort Systems USA by 24.8%, now holding 59,305 shares worth approximately $19.12 million.
• Comfort Systems USA recently declared an increased quarterly dividend of $0.50 per share, up from $0.45, reflecting a dividend yield of 0.3%.
• Despite recent insider sales, 96.51% of Comfort Systems USA's stock is owned by hedge funds and institutional investors, indicating strong institutional interest.

Royal Bank of Canada grew its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,305 shares of the construction company's stock after acquiring an additional 11,798 shares during the period. Royal Bank of Canada owned 0.17% of Comfort Systems USA worth $19,115,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Comfort Systems USA by 13.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,556 shares of the construction company's stock worth $824,000 after buying an additional 296 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Comfort Systems USA by 27.7% in the first quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock worth $364,000 after buying an additional 239 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Comfort Systems USA by 97.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock worth $2,377,000 after buying an additional 3,644 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Comfort Systems USA by 256.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 2,040 shares of the construction company's stock worth $658,000 after buying an additional 1,467 shares in the last quarter. Finally, Spire Wealth Management raised its position in shares of Comfort Systems USA by 9.8% in the first quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock worth $324,000 after buying an additional 90 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Down 1.4%

Comfort Systems USA stock traded down $10.70 during mid-day trading on Friday, reaching $754.21. The stock had a trading volume of 301,656 shares, compared to its average volume of 373,101. Comfort Systems USA, Inc. has a one year low of $276.44 and a one year high of $772.22. The company has a 50-day moving average price of $659.03 and a two-hundred day moving average price of $498.97. The company has a market capitalization of $26.61 billion, a price-to-earnings ratio of 38.76 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.84 by $1.69. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The business's revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.74 earnings per share. On average, analysts expect that Comfort Systems USA, Inc. will post 16.85 EPS 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. Investors of record on Thursday, August 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, August 14th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio is 10.28%.

Insiders Place Their Bets

In other Comfort Systems USA news, Director Pablo G. Mercado sold 1,078 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $695.88, for a total transaction of $750,158.64. Following the transaction, the director owned 6,500 shares in the company, valued at approximately $4,523,220. This represents a 14.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Julie Shaeff sold 1,369 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $704.50, for a total transaction of $964,460.50. Following the transaction, the chief accounting officer owned 16,023 shares in the company, valued at $11,288,203.50. This represents a 7.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,783 shares of company stock worth $18,710,798 in the last quarter. Insiders own 1.59% of the company's stock.

Analysts Set New Price Targets

FIX has been the topic of a number of recent analyst reports. Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Northcoast Research downgraded shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. William Blair initiated coverage on shares of Comfort Systems USA in a research note on Thursday. They set an "outperform" rating on the stock. UBS Group boosted their price target on shares of Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $635.60.

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.