Sumitomo Mitsui Trust Group Inc. Acquires Shares of 1,960 Comfort Systems USA, Inc. (NYSE:FIX)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in Comfort Systems USA, Inc. (NYSE:FIX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,960 shares of the construction company’s stock, valued at approximately $765,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank lifted its stake in Comfort Systems USA by 34.5% in the first quarter. Comerica Bank now owns 103,730 shares of the construction company’s stock valued at $32,956,000 after buying an additional 26,616 shares during the period. Entropy Technologies LP acquired a new position in Comfort Systems USA during the 3rd quarter worth approximately $1,484,000. Cetera Advisors LLC bought a new position in Comfort Systems USA in the first quarter valued at $971,000. WCM Investment Management LLC raised its holdings in Comfort Systems USA by 16.5% during the third quarter. WCM Investment Management LLC now owns 99,553 shares of the construction company’s stock worth $38,833,000 after acquiring an additional 14,090 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. bought a new stake in shares of Comfort Systems USA during the 3rd quarter worth approximately $1,327,000. Institutional investors own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FIX. UBS Group upgraded Comfort Systems USA from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $396.00 to $525.00 in a report on Tuesday. Stifel Nicolaus began coverage on Comfort Systems USA in a research report on Friday, November 15th. They set a “buy” rating and a $524.00 price target on the stock. Finally, StockNews.com upgraded shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $466.33.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, Chairman Franklin Myers sold 12,000 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $390.18, for a total transaction of $4,682,160.00. Following the transaction, the chairman now owns 106,498 shares of the company’s stock, valued at $41,553,389.64. This trade represents a 10.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vance W. Tang sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $390.00, for a total value of $1,053,000.00. Following the completion of the transaction, the director now directly owns 5,498 shares of the company’s stock, valued at approximately $2,144,220. This represents a 32.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,746 shares of company stock worth $14,684,140. Corporate insiders own 1.80% of the company’s stock.

Comfort Systems USA Stock Up 5.2 %

FIX stock opened at $474.34 on Wednesday. The stock’s 50 day simple moving average is $401.57 and its 200 day simple moving average is $349.45. The company has a market cap of $16.88 billion, a P/E ratio of 36.29 and a beta of 1.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.04. Comfort Systems USA, Inc. has a fifty-two week low of $185.83 and a fifty-two week high of $474.73.

Comfort Systems USA (NYSE:FIX) last announced its quarterly earnings results on Thursday, October 24th. The construction company reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.97 by $0.12. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Comfort Systems USA had a net margin of 7.18% and a return on equity of 32.74%. The firm’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.74 EPS. On average, research analysts expect that Comfort Systems USA, Inc. will post 13.88 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Thursday, November 14th will be given a $0.35 dividend. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, November 14th. Comfort Systems USA’s dividend payout ratio is presently 10.71%.

About Comfort Systems USA

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.