Royal Bank of Canada Purchases 28,829 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Royal Bank of Canada increased its Comfort Systems USA stake by 24.6% in the first quarter, adding 28,829 shares to own 146,195 shares valued at approximately $201.6 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with earnings of $12.53 per share and revenue of $3.27 billion, up 50.3% year over year and above analyst expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $2,057.86.
• Company insiders sold 28,778 shares worth approximately $56.3 million over the past three months, while Comfort Systems USA raised its quarterly dividend from $0.80 to $0.90 per share.

Royal Bank of Canada boosted its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 146,195 shares of the construction company's stock after purchasing an additional 28,829 shares during the quarter. Royal Bank of Canada owned about 0.42% of Comfort Systems USA worth $201,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FIX. Core Wealth Advisors LLC bought a new position in shares of Comfort Systems USA in the fourth quarter valued at $28,000. CENTRAL TRUST Co bought a new stake in shares of Comfort Systems USA during the first quarter worth about $46,000. Ascentis Independent Advisors bought a new stake in shares of Comfort Systems USA during the first quarter worth about $46,000. Brown Lisle Cummings Inc. bought a new stake in shares of Comfort Systems USA during the first quarter worth about $47,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Comfort Systems USA in the 1st quarter worth about $48,000. Institutional investors own 96.51% of the company's stock.

Insider Transactions at Comfort Systems USA

In other news, insider Brian E. Lane sold 11,113 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the completion of the transaction, the insider directly owned 161,089 shares of the company's stock, valued at $317,319,555.76. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William George III sold 4,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,948.17, for a total value of $7,792,680.00. Following the sale, the chief financial officer directly owned 33,804 shares of the company's stock, valued at $65,855,938.68. The trade was a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 28,778 shares of company stock worth $56,257,229. 1.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FIX has been the topic of several recent research reports. Stifel Nicolaus set a $1,910.00 price target on shares of Comfort Systems USA in a research report on Monday. UBS Group boosted their price objective on Comfort Systems USA from $2,125.00 to $2,225.00 and gave the stock a "buy" rating in a report on Monday. Oppenheimer assumed coverage on Comfort Systems USA in a research note on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price objective for the company. Zacks Research lowered Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, June 26th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a research report on Friday, July 17th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Comfort Systems USA presently has an average rating of "Moderate Buy" and an average target price of $2,057.86.

Comfort Systems USA Stock Performance

Shares of FIX stock opened at $1,516.21 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. The firm has a 50-day moving average of $1,822.84 and a 200-day moving average of $1,585.32. Comfort Systems USA, Inc. has a one year low of $655.96 and a one year high of $2,073.99. The company has a market cap of $53.36 billion, a P/E ratio of 37.29 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, topping the consensus estimate of $10.45 by $2.08. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The business had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same period in the previous year, the company earned $6.53 earnings per share. The firm's revenue for the quarter was up 50.3% compared to the same quarter last year. Equities research analysts forecast that Comfort Systems USA, Inc. will post 46.77 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Thursday, August 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, August 13th. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. Comfort Systems USA's dividend payout ratio (DPR) is presently 7.87%.

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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