SIR Capital Management L.P. Invests $8.71 Million in Comfort Systems USA, Inc. $FIX

Key Points

• SIR Capital Management initiated an $8.71 million position in Comfort Systems USA during the second quarter by purchasing 4,394 shares. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with revenue rising 50.3% year over year to $3.27 billion and EPS of $12.53, beating analyst expectations of $10.45.
• The company increased its quarterly dividend from $0.80 to $0.90 per share, while analysts maintained a consensus “Buy” rating with an average price target of $2,082.86.

SIR Capital Management L.P. bought a new position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,394 shares of the construction company's stock, valued at approximately $8,709,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FIX. Jones Financial Companies Lllp bought a new stake in Comfort Systems USA in the 2nd quarter worth $26,000. Avalon Trust Co bought a new position in shares of Comfort Systems USA during the second quarter valued at about $32,000. Carolina Wealth Advisors LLC boosted its holdings in shares of Comfort Systems USA by 63.6% during the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock worth $36,000 after purchasing an additional 7 shares during the period. Kilter Group LLC purchased a new stake in shares of Comfort Systems USA during the second quarter worth about $48,000. Finally, Core Wealth Advisors LLC bought a new stake in shares of Comfort Systems USA in the fourth quarter worth about $28,000. 96.51% of the stock is currently owned by institutional investors.

Comfort Systems USA Price Performance

FIX stock opened at $1,607.66 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. Comfort Systems USA, Inc. has a 1 year low of $670.19 and a 1 year high of $2,073.99. The firm has a 50-day moving average of $1,776.76 and a 200 day moving average of $1,661.26. The company has a market cap of $56.57 billion, a P/E ratio of 39.54 and a beta of 1.69.

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 the consensus estimate of $10.45 by $2.08. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.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 firm posted $6.53 EPS. The business's revenue was up 50.3% on a year-over-year basis. On average, sell-side analysts forecast that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Thursday, August 13th were 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 was 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 8.85%.

Wall Street Analyst Weigh In

FIX has been the subject of a number of recent analyst reports. Oppenheimer assumed coverage on Comfort Systems USA in a research report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price target for the company. The Goldman Sachs Group initiated coverage on Comfort Systems USA in a research report on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 price objective on the stock. Stifel Nicolaus set a $1,910.00 target price on Comfort Systems USA in a report on Monday, July 27th. KeyCorp raised their price target on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a research note on Monday, July 27th. Finally, DA Davidson began coverage on shares of Comfort Systems USA in a report on Friday. They issued a "buy" rating and a $2,100.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $2,082.86.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, CFO William George III sold 2,554 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the transaction, the chief financial officer owned 30,250 shares in the company, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Franklin Myers sold 4,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the transaction, the director directly owned 8,495 shares of the company's stock, valued at $14,389,850.40. This represents a 32.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,096 shares of company stock worth $31,186,647 over the last ninety days. 1.24% of the stock is owned by corporate insiders.

About Comfort Systems USA

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.

Want to see what other hedge funds are holding FIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comfort Systems USA, Inc. (NYSE:FIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source