Wealth High Governance Capital Ltda Invests $13.68 Million in Comfort Systems USA, Inc. $FIX

Key Points

• Wealth High Governance Capital acquired 6,904 shares of Comfort Systems USA valued at approximately $13.68 million, making FIX its eighth-largest holding and 4.1% of its portfolio. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 versus the $10.45 consensus estimate and revenue up 50.3% year over year to $3.27 billion. Analysts maintain a consensus “Buy” rating with an average price target of $2,082.86.
• The company raised its quarterly dividend from $0.80 to $0.90 per share, equivalent to an annualized $3.60 dividend and a 0.2% yield. Recent insider activity was negative, with insiders selling 17,096 shares worth $31.2 million over the past 90 days.

Wealth High Governance Capital Ltda acquired a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,904 shares of the construction company's stock, valued at approximately $13,683,000. Comfort Systems USA comprises 4.1% of Wealth High Governance Capital Ltda's investment portfolio, making the stock its 8th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Comfort Systems USA in the second quarter worth about $6,734,037,000. Vanguard Group Inc. grew its stake in shares of Comfort Systems USA by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after acquiring an additional 625,567 shares during the last quarter. Norges Bank acquired a new position in shares of Comfort Systems USA during the fourth quarter valued at about $469,606,000. State Street Corp increased its holdings in shares of Comfort Systems USA by 35.6% during the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock valued at $1,333,367,000 after acquiring an additional 375,118 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Comfort Systems USA by 39.0% in the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after purchasing an additional 332,441 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $1,658.28 on Monday. 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 stock has a market capitalization of $58.35 billion, a price-to-earnings ratio of 40.78 and a beta of 1.69. The firm's 50 day simple moving average is $1,783.64 and its 200-day simple moving average is $1,658.46. 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 posted its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $2.99 billion. During the same period in the previous year, the business posted $6.53 EPS. The business's revenue was up 50.3% compared to the same quarter last year. Analysts expect that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on FIX shares. KeyCorp boosted their target price on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Erste Group Bank downgraded Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. The Goldman Sachs Group started coverage on Comfort Systems USA in a report on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 price objective on the stock. Oppenheimer assumed coverage on Comfort Systems USA in a research note on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price objective for the company. Finally, UBS Group set a $2,100.00 price objective on shares of Comfort Systems USA in a report on Thursday. One 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 data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $2,082.86.

Insider Activity

In other news, CFO William George III sold 2,554 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franklin Myers sold 4,000 shares of Comfort Systems USA stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the completion of the transaction, the director owned 8,495 shares of the company's stock, valued at approximately $14,389,850.40. This represents a 32.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,096 shares of company stock worth $31,186,647 in the last ninety days. Company insiders own 1.24% of the company's stock.

Comfort Systems USA 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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