Modern Wealth Management LLC Makes New Investment in Comfort Systems USA, Inc. $FIX

Modern Wealth Management LLC purchased a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 434 shares of the construction company’s stock, valued at approximately $358,000.

Other institutional investors have also made changes to their positions in the company. Marietta Investment Partners LLC increased its holdings in Comfort Systems USA by 108.8% in the third quarter. Marietta Investment Partners LLC now owns 3,359 shares of the construction company’s stock worth $2,772,000 after buying an additional 1,750 shares during the last quarter. One Wealth Capital Management LLC acquired a new stake in Comfort Systems USA in the third quarter valued at approximately $242,000. Barclays PLC grew its position in Comfort Systems USA by 96.5% in the third quarter. Barclays PLC now owns 64,704 shares of the construction company’s stock worth $53,392,000 after acquiring an additional 31,775 shares in the last quarter. United Capital Management of KS Inc. bought a new stake in Comfort Systems USA in the third quarter worth approximately $1,238,000. Finally, Leeward Financial Partners LLC increased its stake in shares of Comfort Systems USA by 6.6% during the 3rd quarter. Leeward Financial Partners LLC now owns 534 shares of the construction company’s stock worth $441,000 after purchasing an additional 33 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Franklin Myers sold 8,636 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was 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 owned 73,995 shares in the company, valued at $108,962,077.20. This represents a 10.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian E. Lane sold 9,365 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $1,453.12, for a total value of $13,608,468.80. Following the completion of the sale, the insider directly owned 171,523 shares in the company, valued at $249,243,501.76. This trade represents a 5.18% decrease in their position. 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 quarter. Insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FIX shares. Stifel Nicolaus set a $1,611.00 price target on shares of Comfort Systems USA in a report on Monday, February 23rd. DA Davidson upped their price objective on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Comfort Systems USA in a research report on Wednesday, January 21st. UBS Group restated a “buy” rating and set a $1,310.00 target price on shares of Comfort Systems USA in a report on Monday, February 2nd. Finally, Zacks Research upgraded Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Comfort Systems USA presently has a consensus rating of “Buy” and an average price target of $1,573.67.

Comfort Systems USA Price Performance

Shares of Comfort Systems USA stock opened at $1,380.84 on Wednesday. The firm has a fifty day simple moving average of $1,216.43 and a 200-day simple moving average of $994.36. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.06. Comfort Systems USA, Inc. has a 1-year low of $276.44 and a 1-year high of $1,500.00. The stock has a market capitalization of $48.57 billion, a price-to-earnings ratio of 47.78 and a beta of 1.62.

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

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Friday, March 6th will be given a $0.70 dividend. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, March 6th. Comfort Systems USA’s dividend payout ratio (DPR) is 9.69%.

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.