Man Group plc Invests $106.95 Million in Comfort Systems USA, Inc. $FIX

Man Group plc acquired a new stake in Comfort Systems USA, Inc. (NYSE:FIX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,961 shares of the construction company’s stock, valued at approximately $106,948,000. Man Group plc owned 0.15% of Comfort Systems USA as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FIX. Signature Equity Partners LLC lifted its holdings in Comfort Systems USA by 16.7% in the 1st quarter. Signature Equity Partners LLC now owns 35 shares of the construction company’s stock valued at $48,000 after acquiring an additional 5 shares during the last quarter. Coston McIsaac & Partners grew its stake in shares of Comfort Systems USA by 3.0% in the 1st quarter. Coston McIsaac & Partners now owns 239 shares of the construction company’s stock worth $329,000 after purchasing an additional 7 shares during the last quarter. Petra Financial Advisors Inc. raised its holdings in shares of Comfort Systems USA by 0.7% in the 1st quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company’s stock worth $1,489,000 after purchasing an additional 7 shares in the last quarter. Carolina Wealth Advisors LLC lifted its stake in Comfort Systems USA by 63.6% during the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock valued at $36,000 after purchasing an additional 7 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in Comfort Systems USA by 1.4% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 572 shares of the construction company’s stock valued at $789,000 after purchasing an additional 8 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Comfort Systems USA Stock Down 2.9%

FIX stock opened at $1,563.47 on Wednesday. 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 firm has a market capitalization of $55.02 billion, a P/E ratio of 38.45 and a beta of 1.69. Comfort Systems USA, Inc. has a 52-week low of $670.19 and a 52-week high of $2,073.99. The company’s 50 day simple moving average is $1,769.68 and its 200-day simple moving average is $1,664.40.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 EPS 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 analyst estimates of $2.99 billion. During the same quarter last year, the business posted $6.53 EPS. The company’s revenue was up 50.3% on a year-over-year basis. As a group, equities research analysts anticipate that Comfort Systems USA, Inc. will post 47.2 EPS for the current year.

Comfort Systems USA Increases Dividend

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

Wall Street Analysts Forecast Growth

FIX has been the topic of several recent research reports. UBS Group set a $2,100.00 price target on shares of Comfort Systems USA in a research report on Thursday, August 20th. Oppenheimer started coverage on Comfort Systems USA in a research note on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 price objective for the company. Stifel Nicolaus set a $1,910.00 target price on Comfort Systems USA in a report on Monday, July 27th. DA Davidson began coverage on Comfort Systems USA in a research report on Friday, August 21st. They set a “buy” rating and a $2,100.00 target price on the stock. Finally, KeyCorp increased 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, July 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Comfort Systems USA currently has an average rating of “Buy” and a consensus price target of $2,082.86.

Insiders Place Their Bets

In other news, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the transaction, the director owned 62,115 shares in the company, valued at approximately $121,401,904.05. The trade was a 9.74% 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, CFO William George III sold 2,554 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the transaction, the chief financial officer directly owned 30,250 shares in the company, valued at $56,254,412.50. The trade was a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,754 shares of company stock worth $30,536,820 in the last quarter. 1.24% of the stock is currently owned by corporate insiders.

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.