Westpac Banking Corp Takes Position in Comfort Systems USA, Inc. $FIX

Key Points

• Westpac Banking Corp initiated a position in Comfort Systems USA, purchasing 772 shares valued at approximately $1.53 million. Institutional investors collectively own 96.51% of the company.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $2,082.86; recent targets range from $2,100 to $2,200.
• Comfort Systems USA beat quarterly expectations, reporting $12.53 in EPS and $3.27 billion in revenue, with revenue up 50.3% year over year. The company also raised its quarterly dividend to $0.90 per share.

Westpac Banking Corp purchased a new stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 772 shares of the construction company's stock, valued at approximately $1,530,000.

Other hedge funds have also bought and sold shares of the company. Prudential PLC bought a new stake in Comfort Systems USA during the fourth quarter worth about $6,922,000. Ethic Inc. increased its holdings in Comfort Systems USA by 80.5% in the 4th quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock valued at $1,565,000 after buying an additional 748 shares during the period. BNP Paribas Financial Markets increased its holdings in Comfort Systems USA by 230.4% in the 4th quarter. BNP Paribas Financial Markets now owns 57,199 shares of the construction company's stock valued at $53,383,000 after buying an additional 39,888 shares during the period. Vanguard Group Inc. raised its position in shares of Comfort Systems USA by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock valued at $4,022,597,000 after buying an additional 625,567 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its position in shares of Comfort Systems USA by 713.1% in the 4th quarter. Swiss Life Asset Management Ltd now owns 13,278 shares of the construction company's stock valued at $12,392,000 after buying an additional 11,645 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FIX. Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. KeyCorp boosted their price objective on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. UBS Group set a $2,100.00 target price on Comfort Systems USA in a research note on Thursday. Oppenheimer started coverage on Comfort Systems USA in a report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price on the stock. Finally, Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Comfort Systems USA has a consensus rating of "Buy" and a consensus target price of $2,082.86.

Comfort Systems USA Stock Down 0.9%

FIX stock opened at $1,658.28 on Friday. The stock has a market capitalization of $58.35 billion, a P/E ratio of 40.78 and a beta of 1.69. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. Comfort Systems USA, Inc. has a 12 month low of $670.19 and a 12 month high of $2,073.99. The firm has a 50-day moving average price of $1,783.64 and a 200-day moving average price of $1,655.08.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly 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. 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 firm's revenue was up 50.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.53 EPS. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Thursday, August 13th will be given a $0.90 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, August 13th. Comfort Systems USA's dividend payout ratio (DPR) is 8.85%.

Insiders Place Their Bets

In other news, CFO William George III sold 2,554 shares of the stock in a transaction on Monday, August 17th. The stock was 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 approximately $56,254,412.50. This represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rhoman J. Hardy sold 342 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total value of $649,827.36. Following the sale, the director directly owned 1,890 shares in the company, valued at approximately $3,591,151.20. This trade represents a 15.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 17,096 shares of company stock valued at $31,186,647. 1.24% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source