Meiji Yasuda Asset Management Co Ltd. Invests $985,000 in Comfort Systems USA, Inc. $FIX

Meiji Yasuda Asset Management Co Ltd. bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX) in the 2nd quarter, Holdings Channel reports. The firm bought 497 shares of the construction company’s stock, valued at approximately $985,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Comfort Systems USA by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock valued at $4,022,597,000 after acquiring an additional 625,567 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Comfort Systems USA during the 2nd quarter worth about $6,734,037,000. State Street Corp increased its stake in shares of Comfort Systems USA by 35.6% during the 4th quarter. State Street Corp now owns 1,428,674 shares of the construction company’s stock worth $1,333,367,000 after purchasing an additional 375,118 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Comfort Systems USA by 39.0% in the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company’s stock valued at $1,103,453,000 after purchasing an additional 332,441 shares during the period. Finally, Invesco Ltd. lifted its stake 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 valued at $878,454,000 after purchasing an additional 73,727 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Comfort Systems USA

In related news, Director Rhoman J. Hardy sold 342 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the transaction, the director directly owned 1,890 shares of the company’s stock, valued at approximately $3,591,151.20. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William George III sold 2,554 shares of Comfort Systems USA stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the sale, the chief financial officer owned 30,250 shares of the company’s stock, valued at $56,254,412.50. This trade represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,096 shares of company stock valued at $31,186,647 in the last ninety days. 1.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a report on Friday, July 17th. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. DA Davidson began coverage on Comfort Systems USA in a research note on Friday. They set a “buy” rating and a $2,100.00 target price for the company. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Finally, Oppenheimer assumed coverage on Comfort Systems USA in a report on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $2,082.86.

Comfort Systems USA Stock Down 2.9%

Shares of FIX opened at $1,607.66 on Tuesday. The firm has a market cap of $56.57 billion, a P/E ratio of 39.54 and a beta of 1.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. Comfort Systems USA, Inc. has a 52 week low of $670.19 and a 52 week high of $2,073.99. The firm’s 50-day simple moving average is $1,776.76 and its 200 day simple moving average is $1,661.26.

Comfort Systems USA (NYSE:FIX) last posted its earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, beating the consensus estimate of $10.45 by $2.08. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The firm’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.53 earnings per share. On average, analysts forecast that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Thursday, August 13th were paid a $0.90 dividend. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, August 13th. This represents a $3.60 annualized dividend and a yield of 0.2%. Comfort Systems USA’s dividend payout ratio is presently 8.85%.

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.