Pallas Capital Advisors LLC Invests $24.03 Million in Comfort Systems USA, Inc. $FIX

Pallas Capital Advisors LLC acquired a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 12,126 shares of the construction company’s stock, valued at approximately $24,032,000. Comfort Systems USA makes up approximately 0.7% of Pallas Capital Advisors LLC’s holdings, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of FIX. Core Wealth Advisors LLC bought a new stake in Comfort Systems USA in the 4th quarter valued at approximately $28,000. Avalon Trust Co bought a new position in shares of Comfort Systems USA during the 2nd quarter worth approximately $32,000. Kemnay Advisory Services Inc. bought a new position in shares of Comfort Systems USA during the 4th quarter worth approximately $33,000. Carolina Wealth Advisors LLC raised its holdings in shares of Comfort Systems USA by 63.6% in the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock valued at $36,000 after purchasing an additional 7 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of Comfort Systems USA by 29.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company’s stock valued at $37,000 after purchasing an additional 9 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FIX shares. UBS Group increased their target price on shares of Comfort Systems USA from $2,125.00 to $2,225.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Oppenheimer assumed coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Comfort Systems USA in a research report on Friday, July 17th. Glj Research began coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They set a “buy” rating and a $2,001.00 price objective for the company. Finally, Zacks Research upgraded Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $2,057.86.

Comfort Systems USA Stock Performance

Shares of FIX opened at $1,879.96 on Tuesday. The company has a market cap of $66.16 billion, a PE ratio of 46.24 and a beta of 1.69. The firm has a 50-day moving average of $1,793.64 and a 200-day moving average of $1,643.63. Comfort Systems USA, Inc. has a one year low of $655.96 and a one year 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) last issued its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 50.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.53 EPS. As a group, equities analysts forecast that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current year.

Comfort Systems USA Increases Dividend

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

Insider Transactions at Comfort Systems USA

In related news, Director Rhoman J. Hardy sold 342 shares of Comfort Systems USA stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the completion of the sale, the director owned 1,890 shares of the company’s stock, valued at approximately $3,591,151.20. The trade was a 15.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Franklin Myers sold 4,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total transaction 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. This represents a 32.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 14,542 shares of company stock valued at $26,437,101. 1.24% of the stock is currently owned by corporate 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.