Royal Bank of Canada Buys 28,829 Shares of Comfort Systems USA, Inc. $FIX

Royal Bank of Canada raised its stake in Comfort Systems USA, Inc. (NYSE:FIX) by 24.6% during the first quarter, Holdings Channel reports. The fund owned 146,195 shares of the construction company’s stock after buying an additional 28,829 shares during the period. Royal Bank of Canada’s holdings in Comfort Systems USA were worth $201,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of FIX. Core Wealth Advisors LLC purchased a new stake in shares of Comfort Systems USA during the 4th quarter worth approximately $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Comfort Systems USA in the 4th quarter worth approximately $33,000. Farmers & Merchants Investments Inc. lifted its stake in 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. ORG Partners LLC lifted its stake in Comfort Systems USA by 63.0% in the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company’s stock valued at $41,000 after purchasing an additional 17 shares during the last quarter. Finally, CENTRAL TRUST Co bought a new position in Comfort Systems USA during the first quarter valued at $46,000. 96.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FIX has been the subject of a number of recent research reports. Zacks Research downgraded Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. KeyCorp upped their price target on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an “overweight” rating in a research report on Monday. Wall Street Zen downgraded Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group initiated coverage on Comfort Systems USA in a research note on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,057.86.

Insider Activity at Comfort Systems USA

In related news, Director Rhoman J. Hardy sold 342 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William George III sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $2,020.96, for a total value of $2,020,960.00. Following the completion of the transaction, the chief financial officer owned 32,804 shares of the company’s stock, valued at approximately $66,295,571.84. This represents a 2.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,778 shares of company stock worth $56,257,229 in the last 90 days. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Stock Down 6.8%

Comfort Systems USA stock opened at $1,516.21 on Thursday. Comfort Systems USA, Inc. has a 1-year low of $655.96 and a 1-year high of $2,073.99. The firm has a market capitalization of $53.36 billion, a price-to-earnings ratio of 37.29 and a beta of 1.66. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The firm has a 50 day simple moving average of $1,822.84 and a 200 day simple moving average of $1,585.32.

Comfort Systems USA (NYSE:FIX) last posted its earnings results 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 return on equity of 53.55% and a net margin of 12.77%.The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the business posted $6.53 earnings per share. The business’s quarterly revenue was up 50.3% on a year-over-year basis. On average, analysts predict 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. Investors of record on Thursday, August 13th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, August 13th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.80. Comfort Systems USA’s dividend payout ratio is presently 7.87%.

Comfort Systems USA 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.