Zevenbergen Capital Investments LLC Increases Position in Comfort Systems USA, Inc. $FIX

Key Points

• Zevenbergen Capital Investments increased its Comfort Systems USA stake by 111.7% in the third quarter, reaching 30,515 shares valued at approximately $50.5 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported quarterly earnings of $12.53 per share, beating estimates by $2.08, while revenue rose 50.3% year over year to $3.27 billion. The company also raised its quarterly dividend to $0.90 per share.
• The stock traded down 1.8% to $1,709.90, while analysts maintained a “Moderate Buy” consensus rating with an average price target of $2,082.86; however, company insiders sold 26,078 shares worth about $43.2 million over the past three months.

Zevenbergen Capital Investments LLC lifted its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 111.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,515 shares of the construction company's stock after buying an additional 16,101 shares during the period. Comfort Systems USA makes up approximately 1.2% of Zevenbergen Capital Investments LLC's holdings, making the stock its 27th largest holding. Zevenbergen Capital Investments LLC owned about 0.09% of Comfort Systems USA worth $50,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Signature Equity Partners LLC grew its position in Comfort Systems USA by 16.7% during the 1st quarter. Signature Equity Partners LLC now owns 35 shares of the construction company's stock worth $48,000 after acquiring an additional 5 shares during the last quarter. Capital Advisors Inc. OK lifted its position in Comfort Systems USA by 1.9% in the second quarter. Capital Advisors Inc. OK now owns 321 shares of the construction company's stock valued at $636,000 after purchasing an additional 6 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Comfort Systems USA by 3.4% during the third quarter. Versant Capital Management Inc now owns 183 shares of the construction company's stock valued at $303,000 after purchasing an additional 6 shares during the period. Coston McIsaac & Partners grew its holdings in shares of Comfort Systems USA by 3.0% in the first quarter. Coston McIsaac & Partners now owns 239 shares of the construction company's stock worth $329,000 after purchasing an additional 7 shares during the last quarter. Finally, Petra Financial Advisors Inc. grew its holdings in shares of Comfort Systems USA by 0.7% in the first quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company's stock worth $1,489,000 after purchasing an additional 7 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Down 1.8%

NYSE:FIX traded down $31.46 during trading hours on Thursday, hitting $1,709.90. The company had a trading volume of 373,125 shares, compared to its average volume of 432,511. The company has a market capitalization of $60.17 billion, a PE ratio of 42.05 and a beta of 1.66. The stock has a 50-day moving average price of $1,662.46 and a 200 day moving average price of $1,721.84. Comfort Systems USA, Inc. has a 52 week low of $770.47 and a 52 week high of $2,073.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, topping the consensus estimate of $10.45 by $2.08. The business had revenue of $3.27 billion during 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 company's revenue for the quarter was up 50.3% on a year-over-year basis. During the same period in the prior year, the business earned $6.53 EPS. On average, equities research analysts predict that Comfort Systems USA, Inc. will post 48.15 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date was Thursday, August 13th. Comfort Systems USA's dividend payout ratio (DPR) is 8.85%.

Wall Street Analyst Weigh In

FIX has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Monday. UBS Group reissued a "buy" rating on shares of Comfort Systems USA in a report on Tuesday, September 15th. DA Davidson began coverage on shares of Comfort Systems USA in a research note on Friday, August 21st. They set a "buy" rating and a $2,100.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Comfort Systems USA in a report on Thursday, July 9th. They set a "buy" rating and a $2,159.00 target price for the company. Finally, Erste Group Bank cut Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,082.86.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the transaction, the director owned 8,495 shares in the company, valued at approximately $14,389,850.40. This represents a 32.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William George, III sold 2,554 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $56,254,412.50. This represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 26,078 shares of company stock valued at $43,211,828. 1.24% of the stock is currently owned by corporate insiders.

About Comfort Systems USA

Comfort Systems USA, Inc NYSE: FIX provides mechanical, electrical, and other contracting services for commercial, industrial, and institutional customers. Its work supports the construction, renovation, and ongoing operation of facilities such as office buildings, hospitals, schools, data centers, manufacturing plants, and other complex infrastructure.

The company's services include heating, ventilation, and air conditioning; plumbing and piping; electrical contracting; building automation and controls; and related specialty services.

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