Saudi Central Bank Raises Stock Position in Comfort Systems USA, Inc. $FIX

Saudi Central Bank lifted its position in Comfort Systems USA, Inc. (NYSE:FIX) by 89.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,463 shares of the construction company’s stock after purchasing an additional 1,161 shares during the quarter. Saudi Central Bank’s holdings in Comfort Systems USA were worth $4,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FIX. NewEdge Advisors LLC increased its holdings in shares of Comfort Systems USA by 41.1% in the first quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company’s stock valued at $1,100,000 after purchasing an additional 993 shares during the period. Focus Partners Wealth lifted its holdings in shares of Comfort Systems USA by 110.6% during the first quarter. Focus Partners Wealth now owns 2,300 shares of the construction company’s stock worth $741,000 after purchasing an additional 1,208 shares during the period. Sivia Capital Partners LLC grew its position in Comfort Systems USA by 40.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company’s stock valued at $579,000 after buying an additional 313 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Comfort Systems USA in the 2nd quarter valued at $567,000. Finally, Sei Investments Co. increased its stake in Comfort Systems USA by 69.2% in the 2nd quarter. Sei Investments Co. now owns 43,631 shares of the construction company’s stock valued at $23,395,000 after buying an additional 17,839 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Insider Transactions at Comfort Systems USA

In related news, insider Brian Lane sold 16,024 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the transaction, the insider directly owned 145,065 shares in the company, valued at approximately $233,294,983.65. This represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Franklin Myers sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the completion of the sale, the director directly owned 8,495 shares in the company, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,778 shares of company stock worth $56,306,777 over the last quarter. 1.24% of the stock is currently owned by insiders.

Comfort Systems USA Price Performance

NYSE:FIX opened at $1,611.87 on Monday. The firm has a market cap of $56.72 billion, a price-to-earnings ratio of 39.64 and a beta of 1.67. 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 company’s 50-day moving average is $1,708.39 and its two-hundred day moving average is $1,681.05. Comfort Systems USA, Inc. has a 12-month low of $682.00 and a 12-month high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, topping analysts’ consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The company’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.53 earnings per share. Research analysts expect that Comfort Systems USA, Inc. will post 47.2 EPS for the current year.

Comfort Systems USA Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on FIX. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Comfort Systems USA in a report on Friday, July 17th. Erste Group Bank cut shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Oppenheimer assumed coverage on Comfort Systems USA in a research note on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 price target on the stock. DA Davidson initiated coverage on Comfort Systems USA in a research note on Friday, August 21st. They issued a “buy” rating and a $2,100.00 price objective for the company. Finally, UBS Group set a $2,100.00 target price on Comfort Systems USA in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average 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.