Kingsview Wealth Management LLC Invests $2.04 Million in Comfort Systems USA, Inc. $FIX

Kingsview Wealth Management LLC acquired a new stake in Comfort Systems USA, Inc. (NYSE:FIX) during the second quarter, Holdings Channel reports. The firm acquired 1,028 shares of the construction company’s stock, valued at approximately $2,038,000.

Several other institutional investors have also added to or reduced their stakes in the business. Beacon Pointe Advisors LLC bought a new position in Comfort Systems USA during the second quarter worth about $1,308,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Comfort Systems USA in the second quarter worth about $1,743,000. Glenview Trust Co bought a new stake in shares of Comfort Systems USA in the second quarter valued at approximately $319,000. Empowered Funds LLC purchased a new stake in shares of Comfort Systems USA during the 2nd quarter valued at approximately $57,223,000. Finally, United Capital Financial Advisors LLC purchased a new stake in shares of Comfort Systems USA during the 2nd quarter valued at approximately $2,630,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Down 6.0%

FIX stock opened at $1,518.08 on Friday. 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 company’s 50 day moving average is $1,747.26 and its 200 day moving average is $1,669.40. The stock has a market cap of $53.42 billion, a price-to-earnings ratio of 37.34 and a beta of 1.69. Comfort Systems USA, Inc. has a 1-year low of $670.19 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last announced its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business posted $6.53 earnings per share. Comfort Systems USA’s revenue for the quarter was up 50.3% on a year-over-year basis. Sell-side analysts predict that Comfort Systems USA, Inc. will post 47.2 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Thursday, August 13th were given a dividend of $0.90 per share. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, August 13th. This represents a $3.60 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA’s dividend payout ratio is 8.85%.

Analyst Ratings Changes

Several research analysts recently commented on FIX shares. Zacks Research raised shares of Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. KeyCorp increased their target price on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Wall Street Zen lowered Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. The Goldman Sachs Group initiated coverage on Comfort Systems USA in a report on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price target for the company. Finally, Oppenheimer assumed coverage on Comfort Systems USA in a research report on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 price target for the company. One investment 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 data from MarketBeat, the company has an average rating of “Buy” and an average target price of $2,082.86.

Insider Activity

In related news, CFO William George III sold 2,554 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the transaction, the chief financial officer directly owned 30,250 shares in the company, valued at approximately $56,254,412.50. The trade was a 7.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Franklin Myers sold 4,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the completion of the transaction, the director directly owned 8,495 shares in the company, valued at approximately $14,389,850.40. This represents a 32.01% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 32,778 shares of company stock worth $56,306,777. 1.24% of the stock is currently owned by corporate insiders.

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.