Proficio Capital Partners LLC Takes Position in Comfort Systems USA, Inc. $FIX

Proficio Capital Partners LLC acquired a new stake in Comfort Systems USA, Inc. (NYSE:FIX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,479 shares of the construction company’s stock, valued at approximately $2,931,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Comfort Systems USA in the 2nd quarter valued at approximately $6,734,037,000. State Street Corp lifted its holdings in shares of 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 lifted its holdings in shares of 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 worth $1,103,453,000 after purchasing an additional 332,441 shares during the period. Invesco Ltd. grew its stake in shares of Comfort Systems USA by 7.4% in the third quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company’s stock worth $878,454,000 after purchasing an additional 73,727 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Comfort Systems USA by 22.1% in the fourth 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 last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO William George III sold 2,554 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the sale, the chief financial officer owned 30,250 shares of the company’s stock, valued at $56,254,412.50. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the completion of the sale, the director owned 62,115 shares of the company’s stock, valued at approximately $121,401,904.05. The trade was a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 16,754 shares of company stock valued at $30,536,820. Corporate insiders own 1.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FIX. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research upgraded Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Stifel Nicolaus set a $1,910.00 price target on Comfort Systems USA in a research note on Monday, July 27th. Wall Street Zen downgraded Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, DA Davidson started coverage on Comfort Systems USA in a research note on Friday, August 21st. They issued a “buy” rating and a $2,100.00 price objective on the stock. One 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $2,082.86.

Comfort Systems USA Trading Up 3.6%

FIX opened at $1,618.93 on Thursday. Comfort Systems USA, Inc. has a twelve month low of $670.19 and a twelve month high of $2,073.99. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $1,763.42 and a 200-day moving average of $1,667.74. The stock has a market cap of $56.97 billion, a PE ratio of 39.82 and a beta of 1.69.

Comfort Systems USA (NYSE:FIX) last announced its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, topping analysts’ consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.53 earnings per share. On average, sell-side analysts predict that Comfort Systems USA, Inc. will post 47.2 EPS for the current year.

Comfort Systems USA Increases Dividend

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

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.