Truist Financial Corp Has $21.37 Million Stock Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Truist Financial Corp increased its holdings in Comfort Systems USA by 4.2%, owning approximately $21.37 million worth of the company's stock at the end of the second quarter.
• Comfort Systems USA recently reported $6.53 earnings per share for the quarter, surpassing the consensus estimate and showing a 20.1% year-over-year revenue increase.
• The company increased its quarterly dividend from $0.45 to $0.50 per share, with a dividend yield of 0.2% and a payout ratio of 10.28%.

Truist Financial Corp grew its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,862 shares of the construction company's stock after buying an additional 1,610 shares during the quarter. Truist Financial Corp owned approximately 0.11% of Comfort Systems USA worth $21,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenleaf Trust bought a new position in Comfort Systems USA in the second quarter valued at about $226,000. Janney Montgomery Scott LLC boosted its holdings in Comfort Systems USA by 40.4% in the second quarter. Janney Montgomery Scott LLC now owns 6,432 shares of the construction company's stock valued at $3,449,000 after acquiring an additional 1,850 shares during the last quarter. Venture Visionary Partners LLC bought a new position in Comfort Systems USA in the second quarter valued at about $3,081,000. Capital Insight Partners LLC bought a new position in Comfort Systems USA in the second quarter valued at about $2,151,000. Finally, Walker Asset Management LLC bought a new position in Comfort Systems USA in the second quarter valued at about $220,000. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FIX has been the topic of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a report on Saturday, September 27th. UBS Group raised their price target on Comfort Systems USA from $710.00 to $875.00 and gave the company a "buy" rating in a report on Monday, September 15th. Wall Street Zen upgraded Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Northcoast Research cut Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Finally, DA Davidson raised their target price on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $668.60.

Comfort Systems USA Price Performance

Shares of FIX opened at $816.51 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. Comfort Systems USA, Inc. has a 1 year low of $276.44 and a 1 year high of $852.31. The stock has a market cap of $28.81 billion, a P/E ratio of 41.96 and a beta of 1.58. The stock's 50-day moving average price is $733.91 and its two-hundred day moving average price is $546.75.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released 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. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%.The business had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the business posted $3.74 EPS. Comfort Systems USA's revenue for the quarter was up 20.1% on a year-over-year basis. On average, equities analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.50 per share. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is presently 10.28%.

Insider Buying and Selling at Comfort Systems USA

In other news, insider Brian E. Lane sold 10,000 shares of Comfort Systems USA stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $691.74, for a total transaction of $6,917,400.00. Following the transaction, the insider owned 188,046 shares in the company, valued at $130,078,940.04. The trade was a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pablo G. Mercado sold 1,078 shares of Comfort Systems USA stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $695.88, for a total value of $750,158.64. Following the transaction, the director owned 6,500 shares in the company, valued at $4,523,220. This trade represents a 14.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,783 shares of company stock worth $18,710,798 over the last three months. Company insiders own 1.59% of the company's stock.

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.

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