Sumitomo Life Insurance Co. Acquires New Holdings in Comfort Systems USA, Inc. $FIX

Sumitomo Life Insurance Co. bought a new position in Comfort Systems USA, Inc. (NYSE:FIX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,060 shares of the construction company’s stock, valued at approximately $4,083,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Comfort Systems USA by 17.0% during 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 last quarter. BlackRock Inc. acquired a new position in Comfort Systems USA during the 2nd quarter worth $6,734,037,000. State Street Corp lifted its position 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 worth $1,333,367,000 after acquiring an additional 375,118 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Comfort Systems USA by 39.0% during 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 acquiring an additional 332,441 shares during the period. Finally, Invesco Ltd. boosted its holdings in Comfort Systems USA by 7.4% during the third quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company’s stock valued at $878,454,000 after acquiring an additional 73,727 shares during the period. Institutional investors own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Erste Group Bank downgraded Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. UBS Group set a $2,100.00 price objective on Comfort Systems USA in a research report on Thursday. DA Davidson initiated coverage on Comfort Systems USA in a research note on Friday. They set a “buy” rating and a $2,100.00 target price for the company. Oppenheimer initiated 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, KeyCorp lifted their price target on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $2,082.86.

Insider Activity at Comfort Systems USA

In other news, CFO William George III sold 2,554 shares of Comfort Systems USA 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 transaction of $4,749,546.10. Following the sale, the chief financial officer owned 30,250 shares of the company’s stock, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the sale, the director directly owned 62,115 shares in the company, valued at $121,401,904.05. The trade was a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,096 shares of company stock worth $31,186,647 over the last three months. Company insiders own 1.24% of the company’s stock.

Comfort Systems USA Price Performance

Shares of Comfort Systems USA stock opened at $1,658.28 on Friday. 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, Inc. has a fifty-two week low of $670.19 and a fifty-two week high of $2,073.99. The firm has a fifty day moving average price of $1,783.64 and a two-hundred day moving average price of $1,655.08. The company has a market cap of $58.36 billion, a PE ratio of 40.78 and a beta of 1.69.

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

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Thursday, August 13th will be paid a dividend of $0.90 per share. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a yield of 0.2%. The ex-dividend date is Thursday, August 13th. Comfort Systems USA’s dividend payout ratio is presently 8.85%.

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.