L2 Asset Management LLC Acquires Shares of 508 Comfort Systems USA, Inc. $FIX

L2 Asset Management LLC acquired a new stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 508 shares of the construction company’s stock, valued at approximately $1,008,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Signature Equity Partners LLC raised its holdings in Comfort Systems USA by 16.7% during the 1st quarter. Signature Equity Partners LLC now owns 35 shares of the construction company’s stock valued at $48,000 after buying an additional 5 shares during the last quarter. Coston McIsaac & Partners boosted its position 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 during the period. Petra Financial Advisors Inc. grew its holdings in Comfort Systems USA by 0.7% in the 1st quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company’s stock worth $1,489,000 after acquiring an additional 7 shares during the last quarter. Carolina Wealth Advisors LLC grew its holdings in Comfort Systems USA by 63.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock worth $36,000 after acquiring an additional 7 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased 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. Institutional investors own 96.51% of the company’s stock.

Insider Buying and Selling at Comfort Systems USA

In related news, Director Franklin Myers sold 4,000 shares of Comfort Systems USA 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 sale, the director directly owned 8,495 shares in the company, valued at $14,389,850.40. The trade was a 32.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rhoman J. Hardy sold 342 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was 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 in the company, valued at approximately $3,591,151.20. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 17,096 shares of company stock valued at $31,186,647. 1.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Comfort Systems USA in a report on Thursday, July 9th. They set a “buy” rating and a $2,159.00 target price for the company. UBS Group set a $2,100.00 price target on Comfort Systems USA in a report on Thursday. Zacks Research raised Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. KeyCorp increased their price objective on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Comfort Systems USA presently has a consensus rating of “Buy” and a consensus price target of $2,082.86.

Comfort Systems USA Stock Down 2.9%

Shares of NYSE FIX opened at $1,607.66 on Tuesday. The firm has a fifty day simple moving average of $1,776.76 and a two-hundred day simple moving average of $1,661.26. Comfort Systems USA, Inc. has a 12 month low of $670.19 and a 12 month high of $2,073.99. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $56.57 billion, a PE ratio of 39.54 and a beta of 1.69.

Comfort Systems USA (NYSE:FIX) last announced its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating 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 firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the firm posted $6.53 EPS. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. Equities analysts expect that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was 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%.

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.