Comfort Systems USA, Inc. $FIX Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Comfort Systems USA, acquiring 72,061 shares in the first quarter, resulting in a total ownership of 124,482 shares worth approximately $40.13 million.
• Comfort Systems USA reported better-than-expected quarterly earnings of $6.53 per share, surpassing analyst estimates by $1.69, while revenue reached $2.17 billion, marking a 20.1% year-over-year increase.
• The company announced an increase in its quarterly dividend to $0.50 per share, reflecting its commitment to returning value to shareholders, with an ex-dividend date set for August 14th.

Russell Investments Group Ltd. grew its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 137.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,482 shares of the construction company's stock after acquiring an additional 72,061 shares during the period. Russell Investments Group Ltd. owned 0.35% of Comfort Systems USA worth $40,131,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FIX. Tradewinds Capital Management LLC lifted its position in Comfort Systems USA by 49.1% during the first quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock valued at $26,000 after purchasing an additional 27 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Comfort Systems USA during the 1st quarter valued at about $31,000. Versant Capital Management Inc grew its holdings in shares of Comfort Systems USA by 257.1% in the first quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock worth $32,000 after purchasing an additional 72 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Comfort Systems USA by 54.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company's stock valued at $34,000 after acquiring an additional 37 shares during the last quarter. Finally, Colonial Trust Co SC lifted its holdings in Comfort Systems USA by 352.6% in the 4th quarter. Colonial Trust Co SC now owns 86 shares of the construction company's stock worth $36,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Price Performance

Shares of FIX traded up $12.94 during mid-day trading on Monday, hitting $693.80. 148,390 shares of the stock were exchanged, compared to its average volume of 471,247. Comfort Systems USA, Inc. has a 52-week low of $276.44 and a 52-week high of $733.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The firm has a 50-day moving average of $578.99 and a two-hundred day moving average of $458.28. The company has a market cap of $24.48 billion, a PE ratio of 35.58 and a beta of 1.49.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the business posted $3.74 earnings per share. The company's revenue for the quarter was up 20.1% on a year-over-year basis. On average, equities analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Thursday, August 14th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. The ex-dividend date is Thursday, August 14th. Comfort Systems USA's payout ratio is 10.28%.

Analyst Ratings Changes

Several research analysts have recently issued reports on FIX shares. Northcoast Research lowered Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. DA Davidson raised their price objective on Comfort Systems USA from $630.00 to $810.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Stifel Nicolaus increased their target price on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, UBS Group lifted their price target on Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $635.60.

Insider Buying and Selling

In related news, COO T Mckenna Trent sold 4,400 shares of the company's stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Darcy Anderson sold 8,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $506.82, for a total transaction of $4,054,560.00. Following the completion of the transaction, the director directly owned 26,535 shares of the company's stock, valued at approximately $13,448,468.70. This represents a 23.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,205 shares of company stock valued at $20,932,366 over the last quarter. Insiders own 1.59% of the company's stock.

Comfort Systems USA Profile

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.