TimesSquare Capital Management LLC Acquires 49,575 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• TimesSquare Capital Management sharply increased its stake in Comfort Systems USA, buying 49,575 shares in the fourth quarter and boosting its holding to 51,220 shares, worth about $47.8 million.
• Comfort Systems USA posted better-than-expected quarterly results, with EPS of $10.51 versus estimates of $6.81 and revenue of $2.87 billion, up 56.5% from a year earlier.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain mostly constructive with a consensus rating of Moderate Buy and an average target price of $1,923.20.

TimesSquare Capital Management LLC boosted its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 3,013.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,220 shares of the construction company's stock after purchasing an additional 49,575 shares during the quarter. TimesSquare Capital Management LLC owned about 0.15% of Comfort Systems USA worth $47,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. raised its holdings in Comfort Systems USA by 29.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock worth $37,000 after purchasing an additional 9 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after purchasing an additional 10 shares during the last quarter. West Michigan Advisors LLC raised its holdings in Comfort Systems USA by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 768 shares of the construction company's stock worth $717,000 after purchasing an additional 10 shares during the last quarter. EWA LLC raised its holdings in Comfort Systems USA by 2.7% during the 4th quarter. EWA LLC now owns 379 shares of the construction company's stock worth $353,000 after purchasing an additional 10 shares during the last quarter. Finally, Armstrong Advisory Group Inc. raised its holdings in Comfort Systems USA by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 283 shares of the construction company's stock worth $264,000 after purchasing an additional 11 shares during the last quarter. 96.51% of the stock is owned by institutional investors.

Comfort Systems USA Price Performance

Comfort Systems USA stock opened at $1,851.78 on Tuesday. The firm has a market capitalization of $65.18 billion, a P/E ratio of 53.43 and a beta of 1.70. Comfort Systems USA, Inc. has a 1 year low of $452.04 and a 1 year high of $2,073.99. The business has a 50-day moving average of $1,609.19 and a 200-day moving average of $1,269.53. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.81 by $3.70. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company's revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.75 EPS. On average, equities analysts anticipate that Comfort Systems USA, Inc. will post 43.17 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, May 15th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Insider Activity at Comfort Systems USA

In other news, Director Darcy Anderson sold 4,500 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $1,369.74, for a total transaction of $6,163,830.00. Following the completion of the transaction, the director directly owned 18,035 shares in the company, valued at approximately $24,703,260.90. The trade was a 19.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Sandbrook sold 2,500 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $1,443.32, for a total value of $3,608,300.00. Following the transaction, the director owned 9,166 shares of the company's stock, valued at $13,229,471.12. The trade was a 21.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 61,024 shares of company stock worth $99,678,386. 1.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FIX. 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 report on Friday, April 24th. Zacks Research cut Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Glj Research began coverage on Comfort Systems USA in a report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,923.20.

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.

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