Evolve Private Wealth LLC Takes $4.17 Million Position in Comfort Systems USA, Inc. $FIX

Evolve Private Wealth LLC acquired a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 2,103 shares of the construction company’s stock, valued at approximately $4,168,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FIX. BlackRock Inc. purchased a new stake in shares of Comfort Systems USA during the second quarter worth approximately $6,734,037,000. Vanguard Group Inc. lifted its holdings in Comfort Systems USA by 17.0% in 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 in the last quarter. Norges Bank purchased a new position in Comfort Systems USA in the 4th quarter valued at $469,606,000. State Street Corp boosted its stake 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 purchasing an additional 375,118 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 worth $1,103,453,000 after purchasing an additional 332,441 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Insiders Place Their Bets

In other news, Director Franklin Myers sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the transaction, the director owned 8,495 shares of the company’s stock, valued at $14,389,850.40. This represents a 32.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rhoman J. Hardy sold 342 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,900.08, for a total value of $649,827.36. Following the transaction, the director owned 1,890 shares of the company’s stock, valued at approximately $3,591,151.20. This represents a 15.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 17,096 shares of company stock valued at $31,186,647 over the last quarter. 1.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. KeyCorp increased their target price on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Comfort Systems USA in a research report on Friday, July 17th. Erste Group Bank cut shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Zacks Research raised Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Oppenheimer assumed coverage on Comfort Systems USA in a report on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 target price for the company. One 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 stock. According to data from MarketBeat.com, Comfort Systems USA currently has a consensus rating of “Buy” and a consensus target price of $2,082.86.

Comfort Systems USA Stock Performance

NYSE:FIX 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. The firm has a market capitalization of $58.35 billion, a price-to-earnings ratio of 40.78 and a beta of 1.69. The company’s 50-day moving average is $1,783.64 and its two-hundred day moving average is $1,655.08. Comfort Systems USA, Inc. has a 1-year low of $670.19 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating the consensus estimate of $10.45 by $2.08. The business had revenue of $3.27 billion during 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%. The business’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.53 EPS. Analysts forecast that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Thursday, August 13th will be given a $0.90 dividend. The ex-dividend date is Thursday, August 13th. 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%. Comfort Systems USA’s dividend payout ratio (DPR) is currently 8.85%.

About Comfort Systems USA

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.