NewEdge Wealth LLC Invests $2.30 Million in Comfort Systems USA, Inc. $FIX

NewEdge Wealth LLC bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,161 shares of the construction company’s stock, valued at approximately $2,301,000.

Several other institutional investors also recently bought and sold shares of FIX. Core Wealth Advisors LLC purchased a new stake in Comfort Systems USA in the 4th quarter worth approximately $28,000. Avalon Trust Co purchased a new position in shares of Comfort Systems USA during the 2nd quarter valued at approximately $32,000. Kemnay Advisory Services Inc. purchased a new position in shares of Comfort Systems USA during the 4th quarter valued at approximately $33,000. Carolina Wealth Advisors LLC lifted its stake in shares of Comfort Systems USA by 63.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock valued at $36,000 after purchasing an additional 7 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Comfort Systems USA by 29.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company’s stock worth $37,000 after buying an additional 9 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Performance

FIX opened at $1,674.43 on Friday. The firm’s fifty day simple moving average is $1,788.02 and its two-hundred day simple moving average is $1,655.06. Comfort Systems USA, Inc. has a 52-week low of $670.19 and a 52-week high of $2,073.99. The company has a market cap of $58.92 billion, a price-to-earnings ratio of 41.18 and a beta of 1.69. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02.

Comfort Systems USA (NYSE:FIX) last released its earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, topping analysts’ consensus estimates of $10.45 by $2.08. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company earned $6.53 earnings per share. The company’s quarterly revenue was up 50.3% on a year-over-year basis. Equities analysts anticipate that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Thursday, August 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.2%. The ex-dividend date is Thursday, August 13th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.80. Comfort Systems USA’s payout ratio is presently 8.85%.

Analyst Ratings Changes

A number of research firms have weighed in on FIX. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Comfort Systems USA in a report on Friday, July 17th. Erste Group Bank lowered shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. UBS Group set a $2,100.00 target price on Comfort Systems USA in a research report on Thursday. The Goldman Sachs Group began coverage on Comfort Systems USA in a report on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price target for the company. Finally, Wall Street Zen lowered Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $2,040.00.

Insider Buying and Selling

In other Comfort Systems USA news, Director Franklin Myers sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the sale, the director directly owned 8,495 shares in the company, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William George III sold 2,554 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the transaction, the chief financial officer directly owned 30,250 shares of the company’s stock, valued at $56,254,412.50. The trade was a 7.79% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 17,096 shares of company stock worth $31,186,647. Insiders own 1.24% of the company’s stock.

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.