Westpac Banking Corp Invests $633,000 in Comfort Systems USA, Inc. $FIX

Westpac Banking Corp bought a new stake in Comfort Systems USA, Inc. (NYSE:FIX) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 459 shares of the construction company’s stock, valued at approximately $633,000.

Several other hedge funds also recently made changes to their positions in FIX. Core Wealth Advisors LLC purchased a new position in Comfort Systems USA during the fourth quarter valued at $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Comfort Systems USA in the 4th quarter worth about $33,000. Farmers & Merchants Investments Inc. grew its position in shares of Comfort Systems USA by 29.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company’s stock worth $37,000 after buying an additional 9 shares during the period. JFS Wealth Advisors LLC increased its stake in shares of Comfort Systems USA by 29.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company’s stock worth $41,000 after acquiring an additional 10 shares in the last quarter. Finally, ORG Partners LLC increased its stake in shares of Comfort Systems USA by 63.0% in the 4th quarter. ORG Partners LLC now owns 44 shares of the construction company’s stock worth $41,000 after acquiring an additional 17 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Franklin Myers sold 6,700 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the completion of the sale, the director owned 62,115 shares of the company’s stock, valued at $121,401,904.05. This represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Julie Shaeff sold 1,123 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the completion of the transaction, the chief accounting officer owned 12,624 shares in the company, valued at $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. In the last three months, insiders sold 30,778 shares of company stock valued at $59,746,124. 1.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Comfort Systems USA in a research report on Friday, July 17th. KeyCorp upgraded shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price objective on the stock in a report on Friday, April 24th. Oppenheimer initiated 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 target price for the company. Glj Research started coverage on shares of Comfort Systems USA in a report on Monday, April 20th. They set a “buy” rating and a $2,001.00 target price for the company. Finally, The Goldman Sachs Group began coverage on Comfort Systems USA in a research report on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Comfort Systems USA currently has a consensus rating of “Moderate Buy” and an average price target of $2,015.43.

Comfort Systems USA Trading Up 2.2%

Shares of FIX stock opened at $1,830.08 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a 12-month low of $543.24 and a 12-month high of $2,073.99. The stock has a market capitalization of $64.42 billion, a P/E ratio of 52.80 and a beta of 1.66. The firm’s 50 day moving average is $1,841.07 and its 200 day moving average is $1,567.54.

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, beating analysts’ consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.99 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The company’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.53 EPS. Research analysts expect that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Thursday, August 13th will be issued a $0.90 dividend. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, August 13th. Comfort Systems USA’s dividend payout ratio is currently 9.23%.

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.