Convergence Investment Partners LLC Invests $2.23 Million in Comfort Systems USA, Inc. $FIX

Convergence Investment Partners LLC acquired a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 1,614 shares of the construction company’s stock, valued at approximately $2,226,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Comfort Systems USA by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock worth $4,022,597,000 after purchasing an additional 625,567 shares during the period. Norges Bank bought a new position in shares of Comfort Systems USA during the 4th quarter valued at $469,606,000. State Street Corp lifted its holdings in shares of Comfort Systems USA by 35.6% during 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 during the period. Geode Capital Management LLC boosted 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 buying an additional 332,441 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted 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 buying an additional 309,217 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

Insider Buying and Selling at Comfort Systems USA

In other news, Director Rhoman J. Hardy sold 342 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 1,890 shares in the company, valued at $3,591,151.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Julie Shaeff sold 1,123 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer directly owned 12,624 shares of the company’s stock, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 30,778 shares of company stock valued at $59,746,124. 1.24% of the stock is currently owned by corporate insiders.

Comfort Systems USA Stock Performance

Shares of NYSE FIX opened at $1,712.83 on Tuesday. The firm has a fifty day moving average price of $1,855.02 and a 200-day moving average price of $1,549.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a market cap 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.

Comfort Systems USA (NYSE:FIX) last announced 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. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm earned $4.75 EPS. The company’s revenue was up 56.5% on a year-over-year basis. Equities analysts anticipate 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 issued a dividend of $0.80 per share. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.70. 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. Comfort Systems USA’s payout ratio is 9.23%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FIX shares. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. UBS Group raised their target price on 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. Glj Research assumed coverage on Comfort Systems USA in a research note on Monday, April 20th. They set a “buy” rating and a $2,001.00 price target for the company. Oppenheimer assumed coverage on shares of Comfort Systems USA in a research report on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 price target for the company. Finally, The Goldman Sachs Group initiated 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 objective on the stock. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,015.43.

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.