Verition Fund Management LLC Acquires 8,696 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Verition Fund Management increased its stake in Comfort Systems USA by 73.4% in the fourth quarter, buying 8,696 additional shares and bringing its total holding to 20,544 shares valued at about $19.2 million.
• Comfort Systems USA posted strong quarterly results, reporting EPS of $10.51 versus $6.81 expected and revenue of $2.87 billion versus $2.39 billion expected, with revenue up 56.5% year over year.
• The company raised its quarterly dividend to $0.80 from $0.70, while analysts remain bullish overall with a consensus rating of “Buy” and an average price target of $1,991.50.

Verition Fund Management LLC boosted its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 73.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,544 shares of the construction company's stock after buying an additional 8,696 shares during the period. Verition Fund Management LLC owned approximately 0.06% of Comfort Systems USA worth $19,174,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Panagora Asset Management Inc. boosted its stake in Comfort Systems USA by 8.9% during the fourth quarter. Panagora Asset Management Inc. now owns 35,315 shares of the construction company's stock valued at $32,959,000 after buying an additional 2,892 shares during the period. Mufg Securities Americas Inc. bought a new stake in Comfort Systems USA during the fourth quarter valued at $885,000. Mariner LLC boosted its stake in Comfort Systems USA by 81.2% during the fourth quarter. Mariner LLC now owns 32,016 shares of the construction company's stock valued at $29,914,000 after buying an additional 14,345 shares during the period. Focus Partners Wealth boosted its stake in Comfort Systems USA by 341.5% during the fourth quarter. Focus Partners Wealth now owns 23,536 shares of the construction company's stock valued at $21,966,000 after buying an additional 18,205 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Comfort Systems USA during the fourth quarter valued at $1,298,000. Institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Erste Group Bank assumed coverage on Comfort Systems USA in a research note on Friday, June 5th. They set a "buy" rating for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 25th. DA Davidson raised their price target on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Finally, UBS Group raised their price target 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 investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $1,991.50.

Comfort Systems USA Stock Up 3.9%

FIX opened at $1,951.63 on Tuesday. The company has a market cap of $68.70 billion, a P/E ratio of 56.31 and a beta of 1.66. The business's 50-day moving average price is $1,792.15 and its 200-day moving average price is $1,396.52. 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, Inc. has a 12 month low of $489.98 and a 12 month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping the consensus estimate of $6.81 by $3.70. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.75 earnings per share. On average, equities analysts expect that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were issued a $0.80 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, May 15th. Comfort Systems USA's dividend payout ratio (DPR) is presently 9.23%.

Insider Transactions at Comfort Systems USA

In other news, Director Franklin Myers sold 4,500 shares of Comfort Systems USA stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $1,902.57, for a total value of $8,561,565.00. Following the transaction, the director owned 68,983 shares in the company, valued at approximately $131,244,986.31. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William George III sold 4,000 shares of Comfort Systems USA stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,948.17, for a total value of $7,792,680.00. Following the completion of the transaction, the chief financial officer owned 33,804 shares in the company, valued at approximately $65,855,938.68. This represents a 10.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 24,078 shares of company stock valued at $46,651,175. 1.24% of the stock is currently 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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