Ocean Park Asset Management LLC Makes New Investment in Comfort Systems USA, Inc. $FIX

Ocean Park Asset Management LLC acquired a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 334 shares of the construction company’s stock, valued at approximately $461,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Comfort Systems USA by 17.0% during 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. State Street Corp raised its holdings in shares of Comfort Systems USA by 35.6% in 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 period. Geode Capital Management LLC lifted its stake 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 in the last quarter. Invesco Ltd. lifted its stake in shares of 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 in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Comfort Systems USA by 22.1% during the 4th quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company’s stock worth $951,883,000 after purchasing an additional 184,362 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Comfort Systems USA news, insider Brian E. Lane sold 11,113 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the completion of the transaction, the insider directly owned 161,089 shares of the company’s stock, valued at $317,319,555.76. This represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $649,827.36. Following the sale, the director owned 1,890 shares of the company’s stock, valued at $3,591,151.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,078 shares of company stock worth $46,651,175 over the last three months. 1.24% of the stock is currently owned by corporate insiders.

Comfort Systems USA Stock Performance

Comfort Systems USA stock opened at $2,068.93 on Tuesday. The firm has a market capitalization of $72.83 billion, a PE ratio of 59.69 and a beta of 1.66. Comfort Systems USA, Inc. has a one year low of $489.98 and a one year high of $2,073.99. The stock’s 50 day moving average price is $1,841.87 and its 200 day moving average price is $1,432.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.81 by $3.70. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. Comfort Systems USA’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter last year, the company earned $4.75 earnings per share. As a group, sell-side analysts expect that Comfort Systems USA, Inc. will post 43.39 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s dividend payout ratio (DPR) is 9.23%.

Analyst Upgrades and Downgrades

FIX has been the subject of several research reports. Oppenheimer began coverage on shares of 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. Weiss Ratings reissued a “buy (b)” rating on shares of Comfort Systems USA in a research note on Monday, April 20th. Erste Group Bank initiated coverage on shares of Comfort Systems USA in a report on Friday, June 5th. They set a “buy” rating on the stock. KeyCorp raised shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price target for the company in a research report on Friday, April 24th. Finally, Zacks Research upgraded Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Monday, May 25th. One research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $1,991.50.

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.