Summit Global Investments Buys Shares of 511 Comfort Systems USA, Inc. $FIX

Summit Global Investments bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 511 shares of the construction company’s stock, valued at approximately $1,013,000.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Comfort Systems USA by 17.0% during 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 purchasing an additional 625,567 shares during the period. Norges Bank bought a new position in Comfort Systems USA in the 4th quarter worth about $469,606,000. State Street Corp grew its holdings in Comfort Systems USA by 35.6% during the 4th 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 holdings in Comfort Systems USA by 39.0% during 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 buying an additional 332,441 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Comfort Systems USA by 37,987.3% during the fourth 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 hedge funds and other institutional investors.

Insider Buying and Selling at Comfort Systems USA

In related news, Director Franklin Myers sold 4,000 shares of the company’s stock in a transaction on 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 directly owned 8,495 shares in the company, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rhoman J. Hardy sold 342 shares of the 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 completion of the transaction, the director directly owned 1,890 shares in the company, valued at approximately $3,591,151.20. This represents a 15.32% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 14,542 shares of company stock worth $26,437,101. Corporate insiders own 1.24% of the company’s stock.

Comfort Systems USA Stock Up 2.7%

Shares of NYSE FIX opened at $1,774.19 on Friday. Comfort Systems USA, Inc. has a 12 month low of $655.96 and a 12 month high of $2,073.99. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $62.43 billion, a price-to-earnings ratio of 43.63 and a beta of 1.69. The business has a 50-day moving average of $1,793.06 and a 200-day moving average of $1,634.99.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, topping the consensus estimate of $10.45 by $2.08. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. Comfort Systems USA’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.53 earnings per share. Sell-side analysts expect that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently declared 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 of this dividend is Thursday, August 13th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.80. Comfort Systems USA’s payout ratio is currently 8.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FIX. Oppenheimer initiated coverage on shares of Comfort Systems USA in a report on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 price target on the stock. Wall Street Zen downgraded shares of Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. UBS Group boosted their price target on shares of Comfort Systems USA from $2,125.00 to $2,225.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Comfort Systems USA in a report on Friday, July 17th. Finally, Glj Research assumed coverage on Comfort Systems USA in a research report on Monday, April 20th. They issued a “buy” rating and a $2,001.00 price objective on the stock. One 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $2,057.86.

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.