Sei Investments Co. Boosts Stake in Comfort Systems USA, Inc. $FIX

Key Points

• Sei Investments Co. boosted its stake in Comfort Systems USA by 30.6% in the first quarter, ending with 70,746 shares valued at about $97.6 million. Institutional ownership remains very high, with hedge funds and other institutions holding 96.51% of the stock.
• Comfort Systems USA reported strong quarterly results, posting EPS of $12.53 versus estimates of $10.45 and revenue of $3.27 billion versus $2.99 billion expected. Revenue jumped 50.3% year over year, and analysts now expect full-year EPS of 43.39.
• The company raised its quarterly dividend to $0.90 per share from $0.80, payable on August 24. Analyst sentiment is constructive, with a consensus rating of “Moderate Buy” and an average price target of $2,015.43.

Sei Investments Co. increased its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 30.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,746 shares of the construction company's stock after acquiring an additional 16,592 shares during the period. Sei Investments Co. owned approximately 0.20% of Comfort Systems USA worth $97,559,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Core Wealth Advisors LLC purchased a new stake in shares of Comfort Systems USA during the 4th quarter worth $28,000. Kemnay Advisory Services Inc. purchased a new position in shares of Comfort Systems USA in the 4th quarter valued at about $33,000. Farmers & Merchants Investments Inc. lifted its stake in shares of Comfort Systems USA by 29.0% in 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 during the period. JFS Wealth Advisors LLC lifted its stake in shares of Comfort Systems USA by 29.4% in 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 during the period. Finally, ORG Partners LLC lifted its stake in shares of Comfort Systems USA by 63.0% in the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company's stock valued at $41,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Price Performance

Comfort Systems USA stock opened at $1,830.08 on Friday. The stock has a market capitalization of $64.42 billion, a P/E ratio of 52.80 and a beta of 1.66. Comfort Systems USA, Inc. has a 12-month low of $543.24 and a 12-month high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The firm's 50-day moving average is $1,841.07 and its two-hundred day moving average is $1,567.54.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating analysts' consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.99 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The company's revenue was up 50.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.53 earnings per share. Equities analysts predict that Comfort Systems USA, Inc. will post 43.39 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 24th. Shareholders of record on Thursday, August 13th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, August 13th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Oppenheimer initiated coverage on shares of Comfort Systems USA in a research report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 target price on the stock. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Zacks Research lowered Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. Glj Research assumed coverage on Comfort Systems USA in a report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target on the stock. Finally, KeyCorp raised Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective for the company in a research note on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $2,015.43.

Insider Transactions at Comfort Systems USA

In other news, insider Brian E. Lane sold 11,113 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the sale, the insider owned 161,089 shares in the company, valued at $317,319,555.76. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William George III sold 1,000 shares of Comfort Systems USA stock in a transaction on Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total value of $2,020,960.00. Following the completion of the sale, the chief financial officer directly owned 32,804 shares of the company's stock, valued at approximately $66,295,571.84. This represents a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,778 shares of company stock worth $59,746,124 in the last three months. 1.24% of the stock is currently owned by company insiders.

Comfort Systems USA 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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