iA Global Asset Management Inc. Invests $3.79 Million in Comfort Systems USA, Inc. $FIX

iA Global Asset Management Inc. purchased a new stake in Comfort Systems USA, Inc. (NYSE:FIX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,745 shares of the construction company’s stock, valued at approximately $3,785,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coston McIsaac & Partners grew its holdings in Comfort Systems USA by 3.0% during the 1st quarter. Coston McIsaac & Partners now owns 239 shares of the construction company’s stock valued at $329,000 after buying an additional 7 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Comfort Systems USA by 1.4% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 572 shares of the construction company’s stock valued at $789,000 after acquiring an additional 8 shares during the period. Farmers & Merchants Investments Inc. grew its stake 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 valued at $37,000 after acquiring an additional 9 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in Comfort Systems USA by 3.0% during the 4th quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company’s stock worth $291,000 after acquiring an additional 9 shares during the period. Finally, JFS Wealth Advisors LLC lifted its stake in 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 purchasing an additional 10 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Comfort Systems USA Stock Performance

Shares of NYSE FIX opened at $1,861.01 on Thursday. The stock has a market cap of $65.51 billion, a price-to-earnings ratio of 53.69 and a beta of 1.66. 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 1-year low of $513.99 and a 1-year high of $2,073.99. The stock’s 50-day moving average is $1,883.01 and its 200 day moving average is $1,478.21.

Comfort Systems USA (NYSE:FIX) last issued its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the firm earned $4.75 earnings per share. Comfort Systems USA’s revenue for the quarter was up 56.5% on a year-over-year basis. On average, sell-side analysts anticipate that Comfort Systems USA, Inc. will post 43.39 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Insider Buying and Selling

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the business’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 completion of the sale, the director directly owned 62,115 shares of the company’s stock, valued at $121,401,904.05. The trade was a 9.74% 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, CFO William George III sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total value of $2,020,960.00. Following the transaction, the chief financial officer directly owned 32,804 shares in the company, valued at $66,295,571.84. This trade represents a 2.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,778 shares of company stock worth $59,746,124 in the last ninety days. 1.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Erste Group Bank assumed coverage on shares of Comfort Systems USA in a report on Friday, June 5th. They issued a “buy” rating on the stock. UBS Group raised their price target on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a “buy” rating in a report on Monday, June 8th. Zacks Research downgraded Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. Wall Street Zen lowered Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,991.50.

Comfort Systems USA Company 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.