CIBC Asset Management Inc Buys 35 Shares of Comfort Systems USA, Inc. (NYSE:FIX)

CIBC Asset Management Inc grew its stake in Comfort Systems USA, Inc. (NYSE:FIX) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,043 shares of the construction company’s stock after purchasing an additional 35 shares during the quarter. CIBC Asset Management Inc’s holdings in Comfort Systems USA were worth $407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FIX. Comerica Bank boosted its stake in Comfort Systems USA by 34.5% during the 1st quarter. Comerica Bank now owns 103,730 shares of the construction company’s stock valued at $32,956,000 after purchasing an additional 26,616 shares during the last quarter. Entropy Technologies LP bought a new position in Comfort Systems USA during the 3rd quarter valued at about $1,484,000. Cetera Advisors LLC purchased a new stake in shares of Comfort Systems USA during the 1st quarter valued at about $971,000. WCM Investment Management LLC raised its holdings in shares of 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 valued at $38,833,000 after purchasing an additional 14,090 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. bought a new position in Comfort Systems USA during the third quarter valued at approximately $1,327,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Comfort Systems USA Trading Up 3.1 %

NYSE:FIX opened at $491.09 on Friday. The firm has a market capitalization of $17.48 billion, a price-to-earnings ratio of 37.57 and a beta of 1.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.02. The business has a fifty day moving average price of $407.56 and a 200-day moving average price of $351.45. Comfort Systems USA, Inc. has a one year low of $185.83 and a one year high of $494.37.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings results on Thursday, October 24th. The construction company reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.97 by $0.12. Comfort Systems USA had a return on equity of 32.74% and a net margin of 7.18%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business posted $2.74 earnings per share. The business’s quarterly revenue was up 31.5% on a year-over-year basis. Sell-side analysts forecast that Comfort Systems USA, Inc. will post 13.95 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.35 per share. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.29%. Comfort Systems USA’s dividend payout ratio (DPR) is presently 10.71%.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, Director Darcy Anderson sold 3,546 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $336.19, for a total transaction of $1,192,129.74. Following the sale, the director now directly owns 37,193 shares of the company’s stock, valued at $12,503,914.67. This trade represents a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Franklin Myers sold 12,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $390.18, for a total value of $4,682,160.00. Following the completion of the transaction, the chairman now directly owns 106,498 shares of the company’s stock, valued at approximately $41,553,389.64. This trade represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,746 shares of company stock valued at $14,684,140 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FIX shares. StockNews.com upgraded Comfort Systems USA from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. UBS Group upgraded Comfort Systems USA from a “neutral” rating to a “buy” rating and boosted their price target for the company from $396.00 to $525.00 in a research note on Tuesday. Finally, Stifel Nicolaus started coverage on shares of Comfort Systems USA in a research note on Friday, November 15th. They issued a “buy” rating and a $524.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $466.33.

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.