Virtus Advisers LLC Makes New $1.46 Million Investment in Comfort Systems USA, Inc. $FIX

Key Points

• Virtus Advisers initiated a roughly $1.46 million position in Comfort Systems USA during the second quarter, while institutional investors overall own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with earnings of $12.53 per share and revenue of $3.27 billion, up 50.3% year over year and above analyst expectations.
• The company raised its quarterly dividend to $0.90 per share, while analysts maintain a consensus “Buy” rating and a $2,040 price target; shares recently traded at $1,674.43.

Virtus Advisers LLC acquired a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 738 shares of the construction company's stock, valued at approximately $1,463,000. Comfort Systems USA makes up about 0.6% of Virtus Advisers LLC's holdings, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of FIX. Silvant Capital Management LLC acquired a new position in Comfort Systems USA during the 2nd quarter worth about $12,792,000. Kilter Group LLC acquired a new position in Comfort Systems USA in the 2nd quarter valued at about $48,000. Reliant Investment Partners LLC purchased a new stake in Comfort Systems USA during the second quarter worth about $527,000. Advisors Capital Management LLC acquired a new stake in shares of Comfort Systems USA during the second quarter worth about $218,000. Finally, Vise Technologies Inc. purchased a new position in shares of Comfort Systems USA in the second quarter valued at approximately $4,584,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Down 1.3%

FIX stock opened at $1,674.43 on Friday. The company's 50 day moving average price is $1,788.02 and its 200 day moving average price is $1,655.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. Comfort Systems USA, Inc. has a fifty-two week low of $670.19 and a fifty-two week high of $2,073.99. The firm has a market capitalization of $58.92 billion, a price-to-earnings ratio of 41.18 and a beta of 1.69.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating the consensus estimate of $10.45 by $2.08. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter last year, the company earned $6.53 earnings per share. The firm's revenue was up 50.3% compared to the same quarter last year. On average, equities research analysts anticipate that Comfort Systems USA, Inc. will post 46.77 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Thursday, August 13th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, August 13th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.80. Comfort Systems USA's dividend payout ratio (DPR) is 8.85%.

Insider Transactions at Comfort Systems USA

In related news, Director Rhoman J. Hardy sold 342 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the completion of the transaction, the director owned 1,890 shares in the company, valued at approximately $3,591,151.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William George III sold 2,554 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the transaction, the chief financial officer directly owned 30,250 shares in the company, valued at $56,254,412.50. This trade represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 17,096 shares of company stock valued at $31,186,647. Insiders own 1.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group set a $2,100.00 target price on shares of Comfort Systems USA in a research note on Thursday. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Erste Group Bank lowered Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group started coverage on Comfort Systems USA in a research note on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $2,040.00.

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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