United Capital Financial Advisors LLC Takes Position in Comfort Systems USA, Inc. $FIX

Key Points

• United Capital Financial Advisors initiated a position in Comfort Systems USA, purchasing 1,327 shares valued at approximately $2.63 million. Institutional investors collectively own 96.51% of the company.
• Analysts remain broadly bullish, with an average “Buy” rating and consensus price target of $2,082.86, although one analyst downgraded the stock to “Hold.”
• Comfort Systems USA exceeded quarterly expectations, reporting $12.53 in EPS and $3.27 billion in revenue, while revenue rose 50.3% year over year. The company also increased its quarterly dividend to $0.90 per share, though insiders have sold more than $56.3 million of stock over the past 90 days.

United Capital Financial Advisors LLC purchased a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,327 shares of the construction company's stock, valued at approximately $2,630,000.

Several other institutional investors have also recently made changes to their positions in the company. Value Aligned Research Advisors LLC lifted its holdings in Comfort Systems USA by 14.0% in the second quarter. Value Aligned Research Advisors LLC now owns 243,607 shares of the construction company's stock valued at $482,817,000 after acquiring an additional 29,970 shares during the last quarter. Camarda Financial Advisors LLC acquired a new stake in Comfort Systems USA during the second quarter worth $275,000. Caitlin John LLC acquired a new stake in Comfort Systems USA during the second quarter worth $1,284,000. Equitable Holdings Inc. purchased a new stake in Comfort Systems USA in the second quarter valued at $1,516,000. Finally, Centaurus Financial Inc. purchased a new stake in Comfort Systems USA in the second quarter valued at $567,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insiders Place Their Bets

In other Comfort Systems USA news, insider Brian E. Lane sold 16,024 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the sale, the insider directly owned 145,065 shares in the company, valued at $233,294,983.65. This represents a 9.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William George III sold 2,554 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the transaction, the chief financial officer directly owned 30,250 shares of the company's stock, valued at $56,254,412.50. This represents a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,778 shares of company stock worth $56,306,777 in the last ninety days. 1.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FIX shares. KeyCorp increased their price target on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. DA Davidson assumed coverage on shares of Comfort Systems USA in a research report on Friday, August 21st. They issued a "buy" rating and a $2,100.00 target price on the stock. UBS Group set a $2,100.00 target price on shares of Comfort Systems USA in a research note on Thursday, August 20th. Oppenheimer initiated coverage on shares of 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. Finally, Erste Group Bank downgraded shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $2,082.86.

Comfort Systems USA Stock Performance

Shares of Comfort Systems USA stock opened at $1,518.08 on Friday. The stock has a market capitalization of $53.42 billion, a price-to-earnings ratio of 37.34 and a beta of 1.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. The business has a 50-day moving average of $1,747.26 and a 200 day moving average of $1,669.40. Comfort Systems USA, Inc. has a 12 month low of $670.19 and a 12 month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.45 by $2.08. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The business's revenue for the quarter was up 50.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.53 earnings per share. As a group, sell-side analysts forecast that Comfort Systems USA, Inc. will post 47.2 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Thursday, August 13th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, August 13th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. Comfort Systems USA's payout ratio is currently 8.85%.

Comfort Systems USA Company Profile

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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