Smith Group Asset Management LLC Raises Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• Smith Group Asset Management LLC significantly increased its stake in Comfort Systems USA, owning 59,868 shares after a 1,812.7% increase during the second quarter, making it the company's 18th largest holding.
• Comfort Systems USA's analysts have raised their price target, with DA Davidson and Stifel Nicolaus setting new objectives of $810.00 and $917.00 respectively, indicating strong market confidence.
• The company recently announced a dividend increase from $0.50 to $0.60 per share, with the upcoming payment expected to enhance shareholder returns on November 24th.

Smith Group Asset Management LLC lifted its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 1,812.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,868 shares of the construction company's stock after acquiring an additional 56,738 shares during the quarter. Comfort Systems USA makes up approximately 2.1% of Smith Group Asset Management LLC's holdings, making the stock its 18th biggest holding. Smith Group Asset Management LLC owned about 0.17% of Comfort Systems USA worth $32,102,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Roman Butler Fullerton & Co. purchased a new position in shares of Comfort Systems USA during the second quarter worth approximately $279,000. Parcion Private Wealth LLC purchased a new position in Comfort Systems USA during the second quarter valued at approximately $293,000. Cullen Frost Bankers Inc. increased its holdings in Comfort Systems USA by 310.7% during the second quarter. Cullen Frost Bankers Inc. now owns 115 shares of the construction company's stock valued at $62,000 after buying an additional 87 shares during the period. Fiduciary Planning LLC purchased a new position in Comfort Systems USA during the second quarter valued at approximately $214,000. Finally, Princeton Global Asset Management LLC purchased a new position in Comfort Systems USA during the second quarter valued at approximately $147,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FIX has been the topic of several research reports. DA Davidson lifted their price objective on shares of Comfort Systems USA from $630.00 to $810.00 and gave the company a "buy" rating in a report on Monday, July 28th. Stifel Nicolaus lifted their price objective on shares of Comfort Systems USA from $746.00 to $917.00 and gave the company a "buy" rating in a report on Monday, October 13th. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a report on Wednesday, October 8th. William Blair initiated coverage on shares of Comfort Systems USA in a report on Thursday, September 11th. They set an "outperform" rating on the stock. Finally, Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $735.80.

Insider Activity at Comfort Systems USA

In related news, Director Pablo G. Mercado sold 1,078 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $695.88, for a total transaction of $750,158.64. Following the completion of the transaction, the director directly owned 6,500 shares in the company, valued at $4,523,220. The trade was a 14.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Julie Shaeff sold 1,369 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $704.50, for a total transaction of $964,460.50. Following the transaction, the chief accounting officer owned 16,023 shares of the company's stock, valued at $11,288,203.50. This represents a 7.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,783 shares of company stock valued at $18,710,798 over the last ninety days. Corporate insiders own 1.59% of the company's stock.

Comfort Systems USA Trading Up 4.8%

NYSE:FIX opened at $828.28 on Friday. Comfort Systems USA, Inc. has a 12 month low of $276.44 and a 12 month high of $861.77. The firm has a fifty day simple moving average of $770.78 and a 200-day simple moving average of $594.08. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $29.22 billion, a P/E ratio of 42.56 and a beta of 1.58.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Monday, August 15th. The construction company reported $0.90 EPS for the quarter. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The business had revenue of $713.90 million during the quarter. On average, equities research analysts anticipate that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, November 13th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a dividend yield of 0.3%. Comfort Systems USA's payout ratio is presently 10.28%.

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.

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