Tobam Purchases New Position in Comfort Systems USA, Inc. $FIX

Key Points

• Tobam disclosed a new fourth-quarter stake in Comfort Systems USA, buying 809 shares valued at about $755,000.
• Wall Street remains broadly bullish on FIX, with a consensus Buy rating and an average price target of $1,991.50 after several analysts raised targets or upgraded the stock.
• Comfort Systems USA reported strong quarterly results, posting $10.51 EPS versus the $6.81 estimate and revenue of $2.87 billion, while also raising its quarterly dividend to $0.80 per share.

Tobam purchased a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 809 shares of the construction company's stock, valued at approximately $755,000.

Several other hedge funds have also bought and sold shares of the stock. Farmers & Merchants Investments Inc. increased its holdings in shares of Comfort Systems USA by 29.0% during the 4th 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 in the last quarter. Great Lakes Advisors LLC boosted its holdings in Comfort Systems USA by 3.0% during the fourth quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock worth $291,000 after buying an additional 9 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in Comfort Systems USA by 29.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after buying an additional 10 shares in the last quarter. West Michigan Advisors LLC grew its position in Comfort Systems USA by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 768 shares of the construction company's stock valued at $717,000 after buying an additional 10 shares during the period. Finally, EWA LLC increased its holdings in Comfort Systems USA by 2.7% in the fourth quarter. EWA LLC now owns 379 shares of the construction company's stock valued at $353,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

FIX has been the subject of a number of analyst reports. 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 upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 25th. Glj Research assumed coverage on Comfort Systems USA in a research note on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target for the company. Stifel Nicolaus upped their price target 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. Finally, UBS Group boosted their price objective on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a "buy" rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Comfort Systems USA currently has a consensus rating of "Buy" and an average target price of $1,991.50.

Comfort Systems USA Stock Performance

FIX opened at $1,971.17 on Friday. The firm's fifty day simple moving average is $1,831.99 and its two-hundred day simple moving average is $1,420.84. Comfort Systems USA, Inc. has a 52-week low of $489.98 and a 52-week high of $2,073.99. The company has a market cap of $69.39 billion, a price-to-earnings ratio of 56.87 and a beta of 1.65. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter in the previous year, the company earned $4.75 earnings per share. The company's quarterly revenue was up 56.5% on a year-over-year basis. Equities analysts anticipate that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA's payout ratio is currently 9.23%.

Insiders Place Their Bets

In other Comfort Systems USA news, CAO Julie Shaeff sold 1,123 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the transaction, the chief accounting officer owned 12,624 shares in the company, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William J. Sandbrook sold 1,500 shares of Comfort Systems USA stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $1,732.67, for a total transaction of $2,599,005.00. Following the sale, the director directly owned 7,666 shares in the company, valued at approximately $13,282,648.22. This trade represents a 16.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 24,078 shares of company stock valued at $46,651,175. 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.

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