CIBC Asset Management Inc Grows Holdings in Comfort Systems USA, Inc. $FIX

CIBC Asset Management Inc increased its position in shares of Comfort Systems USA, Inc. (NYSE:FIX) by 643.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,314 shares of the construction company’s stock after buying an additional 7,196 shares during the period. CIBC Asset Management Inc’s holdings in Comfort Systems USA were worth $7,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FIX. Ameriflex Group Inc. raised its holdings in Comfort Systems USA by 100.0% in the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company’s stock valued at $25,000 after acquiring an additional 15 shares in the last quarter. Core Wealth Advisors LLC acquired a new stake in Comfort Systems USA in the fourth quarter valued at $28,000. Farmers & Merchants Investments Inc. raised its holdings in Comfort Systems USA by 29.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company’s stock valued at $37,000 after acquiring an additional 9 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Comfort Systems USA by 29.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company’s stock valued at $41,000 after acquiring an additional 10 shares in the last quarter. Finally, ORG Partners LLC raised its holdings in Comfort Systems USA by 63.0% in the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company’s stock valued at $41,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Comfort Systems USA Stock Performance

FIX stock opened at $1,841.59 on Friday. The company has a market capitalization of $64.82 billion, a P/E ratio of 53.13 and a beta of 1.65. The company has a 50-day simple moving average of $1,735.08 and a 200 day simple moving average of $1,354.40. Comfort Systems USA, Inc. has a fifty-two week low of $469.16 and a fifty-two week high of $2,073.99. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping the consensus estimate of $6.81 by $3.70. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 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 56.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.75 earnings per share. Sell-side analysts predict that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 0.2%. Comfort Systems USA’s dividend payout ratio is currently 9.23%.

Insiders Place Their Bets

In other Comfort Systems USA news, Director Rhoman J. Hardy sold 342 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total value of $649,827.36. Following the completion of the sale, the director directly owned 1,890 shares of the company’s stock, valued at approximately $3,591,151.20. This represents a 15.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William George III sold 1,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the completion of the sale, the chief financial officer directly owned 32,804 shares of the company’s stock, valued at $66,295,571.84. The trade was a 2.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 24,078 shares of company stock valued at $46,651,175. Corporate insiders own 1.24% of the company’s stock.

Analysts Set New Price Targets

FIX has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a research note on Monday, April 20th. DA Davidson boosted their target price on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Wall Street Zen lowered shares of Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. KeyCorp upgraded shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 target price for the company in a research note on Friday, April 24th. Finally, Oppenheimer started 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. One research 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, Comfort Systems USA currently has an average rating of “Buy” and a consensus target price of $1,969.33.

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.