Comfort Systems USA, Inc. (NYSE:FIX) Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Comfort Systems USA, Inc. (NYSE:FIX) by 6.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 748,128 shares of the construction company’s stock after purchasing an additional 47,929 shares during the period. Geode Capital Management LLC’s holdings in Comfort Systems USA were worth $292,093,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp grew its stake in Comfort Systems USA by 0.6% in the third quarter. State Street Corp now owns 1,055,561 shares of the construction company’s stock worth $412,038,000 after purchasing an additional 6,496 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Comfort Systems USA by 2.1% during the 2nd quarter. Federated Hermes Inc. now owns 415,825 shares of the construction company’s stock worth $126,461,000 after buying an additional 8,578 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Comfort Systems USA in the 3rd quarter worth approximately $138,987,000. Millennium Management LLC increased its holdings in shares of Comfort Systems USA by 477.9% in the 2nd quarter. Millennium Management LLC now owns 342,724 shares of the construction company’s stock valued at $104,229,000 after acquiring an additional 283,416 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Comfort Systems USA by 20.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 255,501 shares of the construction company’s stock valued at $99,735,000 after acquiring an additional 43,691 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FIX. UBS Group lifted their price objective on shares of Comfort Systems USA from $525.00 to $575.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Northcoast Research began coverage on shares of Comfort Systems USA in a research report on Friday, November 22nd. They issued a “buy” rating and a $525.00 price target on the stock. Stifel Nicolaus assumed coverage on shares of Comfort Systems USA in a research report on Friday, November 15th. They set a “buy” rating and a $524.00 price objective for the company. Finally, StockNews.com upgraded shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Comfort Systems USA has a consensus rating of “Moderate Buy” and an average target price of $493.50.

Insider Transactions at Comfort Systems USA

In other news, Chairman Franklin Myers sold 12,000 shares of Comfort Systems USA stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $390.18, for a total transaction of $4,682,160.00. Following the transaction, the chairman now directly owns 106,498 shares in the company, valued at approximately $41,553,389.64. This trade represents a 10.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian E. Lane sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $448.88, for a total value of $6,733,200.00. Following the completion of the sale, the insider now directly owns 204,205 shares in the company, valued at $91,663,540.40. This represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,200 shares of company stock valued at $15,431,250. Company insiders own 1.80% of the company’s stock.

Comfort Systems USA Stock Performance

Shares of NYSE FIX opened at $462.33 on Friday. Comfort Systems USA, Inc. has a 12-month low of $194.30 and a 12-month high of $510.79. The company has a market cap of $16.45 billion, a PE ratio of 35.37 and a beta of 1.18. The stock has a 50 day simple moving average of $443.70 and a 200-day simple moving average of $369.15. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings results on Thursday, October 24th. The construction company reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.97 by $0.12. Comfort Systems USA had a return on equity of 32.74% and a net margin of 7.18%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business posted $2.74 earnings per share. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. On average, equities research analysts forecast that Comfort Systems USA, Inc. will post 13.95 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Thursday, November 14th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.30%. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, November 14th. Comfort Systems USA’s payout ratio is 10.71%.

Comfort Systems USA Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.