Sumitomo Life Insurance Co. Takes Position in Comfort Systems USA, Inc. $FIX

Sumitomo Life Insurance Co. acquired a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) in the second quarter, Holdings Channel reports. The fund acquired 2,060 shares of the construction company’s stock, valued at approximately $4,083,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased 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 period. BlackRock Inc. bought a new position in Comfort Systems USA during the second quarter worth about $6,734,037,000. State Street Corp lifted its stake in Comfort Systems USA by 35.6% during the fourth 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 period. Geode Capital Management LLC boosted its holdings in Comfort Systems USA by 39.0% during the fourth 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 in the last quarter. Finally, Invesco Ltd. boosted its holdings in Comfort Systems USA by 7.4% during the third 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 in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Comfort Systems USA Stock Down 0.9%

Shares of NYSE FIX opened at $1,658.28 on Friday. Comfort Systems USA, Inc. has a 12-month low of $670.19 and a 12-month high of $2,073.99. The firm’s 50-day simple moving average is $1,783.64 and its 200 day simple moving average is $1,655.08. The company has a market cap of $58.36 billion, a price-to-earnings ratio of 40.78 and a beta of 1.69. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02.

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

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Thursday, August 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, August 13th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.80. Comfort Systems USA’s dividend payout ratio is 8.85%.

Insider Buying and Selling at Comfort Systems USA

In other news, CFO William George III sold 2,554 shares of Comfort Systems USA 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 sale, the chief financial officer directly owned 30,250 shares of the company’s stock, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rhoman J. Hardy sold 342 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,900.08, for a total value of $649,827.36. Following the sale, the director owned 1,890 shares of the company’s stock, valued at approximately $3,591,151.20. The trade was a 15.32% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 17,096 shares of company stock worth $31,186,647. Insiders own 1.24% of the company’s stock.

Wall Street Analyst Weigh In

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

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.