The Manufacturers Life Insurance Company Purchases New Stake in Comfort Systems USA, Inc. $FIX

The Manufacturers Life Insurance Company acquired a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,817 shares of the construction company’s stock, valued at approximately $47,204,000. The Manufacturers Life Insurance Company owned about 0.07% of Comfort Systems USA at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of Comfort Systems USA in the 2nd quarter worth about $26,000. Fiduciary Financial Advisors bought a new position in shares of Comfort Systems USA during the second quarter worth about $67,000. L2 Asset Management LLC bought a new position in shares of Comfort Systems USA during the second quarter worth about $1,008,000. Gallo Partners LP acquired a new position in Comfort Systems USA in the second quarter worth about $3,863,000. Finally, Cibc World Market Inc. acquired a new position in Comfort Systems USA in the second quarter worth about $75,358,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO William George III sold 2,554 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the transaction, the chief financial officer owned 30,250 shares in the company, valued at $56,254,412.50. This trade represents a 7.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction dated 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 completion of the transaction, the director directly owned 62,115 shares in the company, valued at $121,401,904.05. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,754 shares of company stock valued at $30,536,820 in the last quarter. 1.24% of the stock is currently owned by corporate insiders.

Comfort Systems USA Stock Performance

FIX opened at $1,618.93 on Thursday. 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 company has a market capitalization of $56.97 billion, a price-to-earnings ratio of 39.82 and a beta of 1.69. The business has a 50 day moving average price of $1,763.42 and a two-hundred day moving average price of $1,667.74. 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 issued its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the firm posted $6.53 earnings per share. The firm’s revenue for the quarter was up 50.3% compared to the same quarter last year. Research analysts predict that Comfort Systems USA, Inc. will post 47.2 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Thursday, August 13th were issued 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 dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, August 13th. Comfort Systems USA’s dividend payout ratio (DPR) is currently 8.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wall Street Zen downgraded Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Stifel Nicolaus set a $1,910.00 price target on Comfort Systems USA in a report on Monday, July 27th. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research upgraded Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, KeyCorp lifted their price objective on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $2,082.86.

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.