L2 Asset Management LLC Makes New $1.01 Million Investment in Comfort Systems USA, Inc. $FIX

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

Several other large investors have also recently made changes to their positions in FIX. Core Wealth Advisors LLC purchased a new stake in shares of Comfort Systems USA in the 4th quarter worth approximately $28,000. Avalon Trust Co bought a new position in Comfort Systems USA during the 2nd quarter valued at approximately $32,000. Kemnay Advisory Services Inc. purchased a new position in Comfort Systems USA during the fourth quarter valued at $33,000. Carolina Wealth Advisors LLC raised its stake in Comfort Systems USA by 63.6% during the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock valued at $36,000 after buying an additional 7 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Comfort Systems USA by 29.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company’s stock worth $37,000 after acquiring an additional 9 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Performance

FIX stock opened at $1,607.66 on Tuesday. The stock has a market capitalization of $56.57 billion, a PE ratio of 39.54 and a beta of 1.69. 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 stock’s 50 day simple moving average is $1,776.76 and its 200 day simple moving average is $1,661.26.

Comfort Systems USA (NYSE:FIX) last issued its earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, beating the consensus estimate of $10.45 by $2.08. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The company’s revenue was up 50.3% compared to the same quarter last year. During the same period last year, the business posted $6.53 EPS. As a group, research analysts forecast that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Insider Activity at Comfort Systems USA

In related news, Director Franklin Myers sold 4,000 shares of Comfort Systems USA stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the completion of the sale, the director directly owned 8,495 shares in the company, valued at approximately $14,389,850.40. This trade represents a 32.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William George III sold 2,554 shares of Comfort Systems USA stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the sale, the chief financial officer owned 30,250 shares of the company’s stock, valued at $56,254,412.50. The trade was a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,096 shares of company stock valued at $31,186,647 over the last ninety days. Insiders own 1.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. KeyCorp lifted their price target 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. The Goldman Sachs Group assumed coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price target on the stock. DA Davidson assumed coverage on shares of Comfort Systems USA in a research report on Friday. They set a “buy” rating and a $2,100.00 price objective on the stock. Finally, UBS Group set a $2,100.00 price objective on shares of Comfort Systems USA in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $2,082.86.

Comfort Systems USA 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.