Patten Group Inc. Buys New Stake in Comfort Systems USA, Inc. $FIX

Patten Group Inc. purchased a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 366 shares of the construction company’s stock, valued at approximately $505,000.

Several other large investors have also recently added to or reduced their stakes in FIX. Vanguard Group Inc. raised its position in Comfort Systems USA by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock valued at $4,022,597,000 after purchasing an additional 625,567 shares during the period. Norges Bank purchased a new stake in shares of Comfort Systems USA in the fourth quarter worth about $469,606,000. State Street Corp grew its stake in shares of Comfort Systems USA by 35.6% in 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 buying an additional 375,118 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Comfort Systems USA by 39.0% in the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company’s stock valued at $1,103,453,000 after buying an additional 332,441 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Comfort Systems USA by 37,987.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company’s stock valued at $289,349,000 after buying an additional 309,217 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William J. Sandbrook sold 1,500 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total value of $2,599,005.00. Following the sale, the director owned 7,666 shares in the company, valued at approximately $13,282,648.22. This represents a 16.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian E. Lane sold 11,113 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the transaction, the insider directly owned 161,089 shares in the company, valued at $317,319,555.76. The trade was a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,778 shares of company stock worth $59,746,124 over the last ninety days. Insiders own 1.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FIX shares. UBS Group boosted their price target on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Oppenheimer started coverage on shares of Comfort Systems USA in a research report on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 price objective for the company. KeyCorp upgraded shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price objective on the stock in a research note on Friday, April 24th. Stifel Nicolaus boosted their target price on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Erste Group Bank began coverage on shares of Comfort Systems USA in a research note on Friday, June 5th. They issued a “buy” rating for the company. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,991.50.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $1,741.16 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a fifty-two week low of $513.99 and a fifty-two week high of $2,073.99. The business has a 50 day moving average price of $1,884.63 and a two-hundred day moving average price of $1,485.52. The firm has a market cap of $61.29 billion, a PE ratio of 50.24 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX) last released its earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, beating the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the business posted $4.75 EPS. The business’s revenue was up 56.5% on a year-over-year basis. Sell-side analysts expect that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were paid a dividend of $0.80 per share. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA’s payout ratio is currently 9.23%.

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.