Legal & General Group Plc Buys New Position in Comfort Systems USA, Inc. $FIX

Legal & General Group Plc bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 201,870 shares of the construction company’s stock, valued at approximately $400,096,000. Legal & General Group Plc owned 0.57% of Comfort Systems USA at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FIX. Vanguard Group Inc. grew its position in shares of Comfort Systems USA by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock worth $4,022,597,000 after buying an additional 625,567 shares during the period. BlackRock Inc. bought a new stake in shares of Comfort Systems USA in the 2nd quarter valued at $6,734,037,000. State Street Corp lifted its position 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 acquiring an additional 375,118 shares during the period. Geode Capital Management LLC lifted its position in shares of Comfort Systems USA by 39.0% during 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 acquiring an additional 332,441 shares during the period. Finally, Invesco Ltd. boosted its stake 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 worth $878,454,000 after acquiring an additional 73,727 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Comfort Systems USA Stock Down 2.9%

Shares of NYSE FIX opened at $1,563.47 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. The company has a 50-day moving average price of $1,769.68 and a 200-day moving average price of $1,664.40. The stock has a market capitalization of $55.02 billion, a P/E ratio of 38.45 and a beta of 1.69. Comfort Systems USA, Inc. has a 1 year low of $670.19 and a 1 year high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last announced its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating the consensus estimate of $10.45 by $2.08. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The firm’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.53 EPS. On average, equities research analysts forecast that Comfort Systems USA, Inc. will post 47.2 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Insider Buying and Selling

In related news, CFO William George III sold 2,554 shares of the 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 represents a 7.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Franklin Myers sold 6,700 shares of the firm’s 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 transaction, the director owned 62,115 shares in the company, 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 sold 16,754 shares of company stock worth $30,536,820 in the last 90 days. Corporate insiders own 1.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stifel Nicolaus set a $1,910.00 price target on shares of Comfort Systems USA in a report on Monday, July 27th. DA Davidson initiated coverage on shares of Comfort Systems USA in a research report on Friday, August 21st. They set a “buy” rating and a $2,100.00 price objective on the stock. KeyCorp raised their target price on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. The Goldman Sachs Group assumed coverage on Comfort Systems USA in a research note on Thursday, July 9th. They set a “buy” rating and a $2,159.00 price target on the stock. Finally, Erste Group Bank downgraded Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. 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 stock presently has a consensus rating of “Buy” and a consensus target price 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.