Nippon Life Global Investors Americas Inc. Invests $12.78 Million in Comfort Systems USA, Inc. $FIX

Nippon Life Global Investors Americas Inc. bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 6,450 shares of the construction company’s stock, valued at approximately $12,784,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FIX. Avalon Trust Co acquired a new position in Comfort Systems USA in the second quarter valued at approximately $32,000. Carolina Wealth Advisors LLC lifted its stake in shares of Comfort Systems USA by 63.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock valued at $36,000 after purchasing an additional 7 shares during the period. Core Wealth Advisors LLC purchased a new stake in Comfort Systems USA during the fourth quarter worth $28,000. CENTRAL TRUST Co purchased a new stake in Comfort Systems USA during the first quarter worth $46,000. Finally, Ascentis Independent Advisors purchased a new stake in Comfort Systems USA during the first quarter worth $46,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $1,774.19 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. The firm has a fifty day moving average of $1,793.06 and a 200 day moving average of $1,638.56. The firm has a market cap of $62.43 billion, a PE ratio of 43.63 and a beta of 1.69. Comfort Systems USA, Inc. has a one year low of $655.96 and a one year high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the firm posted $6.53 earnings per share. The company’s revenue was up 50.3% compared to the same quarter last year. As a group, research analysts predict that Comfort Systems USA, Inc. will post 46.77 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on FIX shares. Glj Research initiated coverage on shares of Comfort Systems USA in a report on Monday, April 20th. They issued a “buy” rating and a $2,001.00 price objective for the company. KeyCorp increased their target price on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Erste Group Bank lowered shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group started coverage on Comfort Systems USA in a research report on Thursday, July 9th. They set a “buy” rating and a $2,159.00 target price on the stock. Finally, Stifel Nicolaus set a $1,910.00 price target on Comfort Systems USA in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $2,057.86.

Insider Activity

In related news, Director Franklin Myers sold 6,700 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the transaction, the director directly owned 62,115 shares of the company’s stock, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rhoman J. Hardy sold 342 shares of Comfort Systems USA stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 14,542 shares of company stock valued at $26,437,101. Insiders own 1.24% of the company’s stock.

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.