Blue Grotto Capital LLC Has $78.89 Million Holdings in Comfort Systems USA, Inc. $FIX

Blue Grotto Capital LLC cut its position in Comfort Systems USA, Inc. (NYSE:FIX) by 28.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 95,607 shares of the construction company’s stock after selling 38,210 shares during the period. Comfort Systems USA makes up about 9.1% of Blue Grotto Capital LLC’s investment portfolio, making the stock its largest holding. Blue Grotto Capital LLC owned about 0.27% of Comfort Systems USA worth $78,893,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its holdings in Comfort Systems USA by 7.4% in the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company’s stock worth $878,454,000 after acquiring an additional 73,727 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Comfort Systems USA by 5.3% during the 2nd quarter. Westfield Capital Management Co. LP now owns 936,412 shares of the construction company’s stock valued at $502,113,000 after purchasing an additional 46,773 shares during the last quarter. Geode Capital Management LLC boosted its stake in Comfort Systems USA by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 821,897 shares of the construction company’s stock valued at $440,764,000 after purchasing an additional 3,032 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Comfort Systems USA by 47.5% in the 2nd quarter. AQR Capital Management LLC now owns 782,435 shares of the construction company’s stock worth $419,049,000 after purchasing an additional 252,007 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Comfort Systems USA by 36.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company’s stock worth $606,117,000 after purchasing an additional 197,613 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. DA Davidson boosted their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. UBS Group restated a “buy” rating and set a $1,310.00 target price on shares of Comfort Systems USA in a research note on Monday, February 2nd. Zacks Research raised shares of Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Comfort Systems USA has an average rating of “Buy” and a consensus target price of $1,573.67.

Comfort Systems USA Stock Performance

Shares of FIX opened at $1,372.85 on Friday. The firm has a market capitalization of $48.28 billion, a P/E ratio of 47.50 and a beta of 1.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.21 and a quick ratio of 1.19. Comfort Systems USA, Inc. has a one year low of $276.44 and a one year high of $1,500.00. The business has a fifty day moving average of $1,234.70 and a 200 day moving average of $999.85.

Comfort Systems USA (NYSE:FIX) last posted its earnings results on Thursday, February 19th. The construction company reported $9.37 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $2.62. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.34 billion. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.Comfort Systems USA’s revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.09 earnings per share. As a group, sell-side analysts anticipate that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Friday, March 6th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA’s payout ratio is 9.69%.

Insider Activity at Comfort Systems USA

In related news, Director Franklin Myers sold 8,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $1,472.56, for a total transaction of $12,717,028.16. Following the completion of the sale, the director directly owned 73,995 shares in the company, valued at approximately $108,962,077.20. The trade was a 10.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Sandbrook sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $1,443.32, for a total transaction of $3,608,300.00. Following the sale, the director directly owned 9,166 shares of the company’s stock, valued at approximately $13,229,471.12. This represents a 21.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,288 shares of company stock valued at $53,677,038 in the last three months. Corporate insiders own 1.59% of the company’s stock.

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.