Sierra Summit Advisors LLC Invests $581,000 in Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• Sierra Summit Advisors LLC invested approximately $581,000 in Comfort Systems USA, acquiring 1,802 shares in the process.
• Comfort Systems USA reported impressive earnings, with an EPS of $6.53, significantly exceeding analysts' expectations, and a revenue of $2.17 billion, an increase of 20.1% year-over-year.
• The company recently announced a dividend increase, raising its quarterly payout from $0.45 to $0.50, representing a yield of 0.3% and a payout ratio of 9.25%.

Sierra Summit Advisors LLC bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,802 shares of the construction company's stock, valued at approximately $581,000.

Several other hedge funds have also bought and sold shares of the company. Tradewinds Capital Management LLC grew its stake in shares of Comfort Systems USA by 49.1% during the first quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock worth $26,000 after buying an additional 27 shares during the last quarter. Colonial Trust Co SC grew its stake in shares of Comfort Systems USA by 352.6% during the fourth 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 last quarter. Versant Capital Management Inc grew its stake in shares of Comfort Systems USA by 257.1% during the first quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock worth $32,000 after buying an additional 72 shares during the last quarter. Johnson Financial Group Inc. grew its stake in shares of Comfort Systems USA by 131.1% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the construction company's stock worth $45,000 after buying an additional 59 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew 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 worth $34,000 after buying an additional 37 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Comfort Systems USA Stock Down 1.4%

Shares of NYSE FIX traded down $9.72 during trading on Thursday, hitting $692.39. 219,506 shares of the company traded hands, compared to its average volume of 472,395. The business's fifty day moving average is $571.84 and its 200 day moving average is $454.10. Comfort Systems USA, Inc. has a fifty-two week low of $276.44 and a fifty-two week high of $733.24. The firm has a market capitalization of $24.43 billion, a price-to-earnings ratio of 35.58 and a beta of 1.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $4.84 by $1.69. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.74 earnings per share. Equities research analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share 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 25th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 14th. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. Comfort Systems USA's payout ratio is presently 9.25%.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, Director Darcy Anderson sold 8,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $506.82, for a total value of $4,054,560.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William George III sold 8,436 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $692.60, for a total transaction of $5,842,773.60. Following the completion of the sale, the chief financial officer owned 47,473 shares of the company's stock, valued at approximately $32,879,799.80. This trade represents a 15.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,205 shares of company stock valued at $20,932,366 over the last quarter. 1.59% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. DA Davidson boosted their price objective on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research note 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 boosted their price objective on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Northcoast Research cut shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, UBS Group boosted their price objective on shares of Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate 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.