VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 8,723 Comfort Systems USA, Inc. $FIX

Key Points

• In the 2nd quarter, Virginia Retirement Systems acquired a new stake in Comfort Systems USA, Inc., purchasing 8,723 shares valued at approximately $4.68 million.
• Insider activity revealed significant sales, with CAO Julie Shaeff selling 1,369 shares and CFO William George III selling 8,436 shares, reflecting a notable decrease in their respective positions.
• Analysts have upgraded Comfort Systems USA stock, with target prices raised to as high as $875 and a consensus rating of "Moderate Buy" among research firms.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,723 shares of the construction company's stock, valued at approximately $4,677,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FIX. GAMMA Investing LLC raised its stake in Comfort Systems USA by 23.1% during the 1st quarter. GAMMA Investing LLC now owns 789 shares of the construction company's stock valued at $254,000 after acquiring an additional 148 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Comfort Systems USA by 97.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock worth $2,377,000 after purchasing an additional 3,644 shares during the period. State of Alaska Department of Revenue increased its position in Comfort Systems USA by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 4,160 shares of the construction company's stock worth $1,340,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. increased its position in Comfort Systems USA by 21.1% during the 1st quarter. Blue Trust Inc. now owns 911 shares of the construction company's stock worth $294,000 after purchasing an additional 159 shares during the period. Finally, Praxis Investment Management Inc. increased its position in Comfort Systems USA by 68.8% during the 1st quarter. Praxis Investment Management Inc. now owns 1,080 shares of the construction company's stock worth $348,000 after purchasing an additional 440 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Comfort Systems USA news, CAO Julie Shaeff sold 1,369 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $704.50, for a total transaction of $964,460.50. Following the sale, the chief accounting officer owned 16,023 shares in the company, valued at approximately $11,288,203.50. This represents a 7.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William George III sold 8,436 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $692.60, for a total value of $5,842,773.60. Following the sale, the chief financial officer owned 47,473 shares in the company, valued at approximately $32,879,799.80. This trade represents a 15.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,783 shares of company stock worth $18,710,798 in the last quarter. 1.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FIX. DA Davidson boosted their target price on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Wednesday, October 8th. Wall Street Zen upgraded Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. William Blair initiated coverage on Comfort Systems USA in a research report on Thursday, September 11th. They set an "outperform" rating on the stock. Finally, UBS Group upped their price target on Comfort Systems USA from $710.00 to $875.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Comfort Systems USA has a consensus rating of "Moderate Buy" and an average price target of $735.80.

Comfort Systems USA Stock Performance

FIX opened at $835.55 on Tuesday. The stock has a market cap of $29.48 billion, a P/E ratio of 42.94 and a beta of 1.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. The stock's 50 day simple moving average is $764.08 and its 200 day simple moving average is $587.46. Comfort Systems USA, Inc. has a 1-year low of $276.44 and a 1-year high of $861.77.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings results on Monday, August 15th. The construction company reported $0.90 earnings per share for the quarter. The business had revenue of $713.90 million for the quarter. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%. As a group, equities analysts anticipate that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders 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 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's payout ratio is currently 10.28%.

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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