Jennison Associates LLC Grows Stock Holdings in Comfort Systems USA, Inc. $FIX

Jennison Associates LLC lifted its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) by 1,311.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,887 shares of the construction company’s stock after purchasing an additional 27,769 shares during the period. Jennison Associates LLC’s holdings in Comfort Systems USA were worth $41,213,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 625,567 shares during the last quarter. Norges Bank purchased a new stake in Comfort Systems USA in the 4th quarter valued at $469,606,000. State Street Corp grew its holdings in 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 valued at $1,333,367,000 after buying an additional 375,118 shares in the last quarter. Geode Capital Management LLC increased 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 worth $1,103,453,000 after acquiring an additional 332,441 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Comfort Systems USA by 37,987.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company’s stock worth $289,349,000 after acquiring an additional 309,217 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Up 2.3%

Shares of FIX opened at $1,712.83 on Tuesday. The stock has a market capitalization of $60.29 billion, a PE ratio of 49.42 and a beta of 1.66. Comfort Systems USA, Inc. has a 1 year low of $513.99 and a 1 year high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The company’s 50-day simple moving average is $1,855.02 and its 200-day simple moving average is $1,549.75.

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

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were given a $0.80 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.20 annualized dividend and a yield of 0.2%. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s dividend payout ratio is 9.23%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FIX shares. Wall Street Zen lowered Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. UBS Group raised their price objective on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. The Goldman Sachs Group started coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price target for the company. Glj Research began coverage on Comfort Systems USA in a report on Monday, April 20th. They set a “buy” rating and a $2,001.00 price target for the company. Finally, Erste Group Bank downgraded shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Comfort Systems USA presently has a consensus rating of “Moderate Buy” and an average target price of $2,015.43.

Insider Buying and Selling

In other news, CAO Julie Shaeff sold 1,123 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the sale, the chief accounting officer directly owned 12,624 shares in the company, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the completion of the transaction, the director owned 62,115 shares of the company’s stock, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,778 shares of company stock worth $59,746,124 over the last three months. 1.24% of the stock is owned by insiders.

About Comfort Systems USA

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.