According to the most recent 13F filing with the Securities and Exchange Commission, the Teacher Retirement System of Texas has reduced its stake in Comfort Systems USA, Inc. by 11.8% during the second quarter of this year. The institutional investor now owns 21,344 shares of the construction company’s stock after selling 2,842 shares. As of its most recent SEC filing, the stake is valued at $3,505,000, representing a decrease of 0.06% in ownership.
Comfort Systems USA (NYSE: FIX) announced its quarterly earnings results on July 26th. The construction company reported earnings per share of $1.93 for the quarter, surpassing analysts’ expectations by $0.29. This positive outcome demonstrates the company’s ability to outperform market consensus estimates. Additionally, Comfort Systems USA achieved a return on equity rate of 23.24% and enjoyed a net margin of 5.17%. Its revenue for the quarter was $1.30 billion compared to an estimated consensus of $1.22 billion, marking an impressive increase of 27.4% from the same period last year.
Several analysts have recently issued reports on Comfort Systems USA. StockNews.com initiated coverage on the stock and recommended it as a “buy” in their research report released on August 17th. Furthermore, DA Davidson raised their price target on Comfort Systems USA from $175.00 to $190.00 and also gave it a “buy” rating in their research report published on July 28th.
These developments indicate that Comfort Systems USA has been performing well and garnering positive attention from both investors as well as industry experts alike. The reduction in stake by Teacher Retirement System of Texas may be seen as a prudent investment decision or simply a strategic portfolio reallocation by the institutional investor; however, despite this decrease in ownership percentage, Comfort Systems USA remains an attractive prospect for investors.
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Institutional Investors Boost Stakes in Comfort Systems USA, Inc. as Optimistic Outlook Persists
October 2, 2023 – Comfort Systems USA, Inc. (NYSE: FIX) has recently garnered the attention of several institutional investors and hedge funds, prompting them to either increase or decrease their stakes in the company. One such investor, First Hawaiian Bank, acquired a new position in shares of Comfort Systems USA during the second quarter, valued at approximately $249,000. Similarly, the Louisiana State Employees Retirement System saw a 12.6% growth in its stake in the construction company during the same period. The pension fund now holds 18,800 shares worth $3,087,000 after acquiring an additional 2,100 shares in the last quarter.
Putnam Investments LLC also demonstrated its confidence in Comfort Systems USA by raising its holdings by an impressive 83.6% in the first quarter. The firm now owns 106,287 shares of the construction company’s stock valued at $15,514,000 after purchasing an additional 48,408 shares during that time frame. Additionally, Assenagon Asset Management S.A. increased its position in Comfort Systems USA by 20.6%, holding onto 159,437 shares worth $23,271,000 following its purchase of an additional 27,250 shares.
Furthermore, Parkside Financial Bank & Trust took note of Comfort Systems USA’s potential by lifting its position by a staggering 113.5% in the first quarter alone. With this move, Parkside Financial Bank & Trust now owns 442 shares valued at $65,000 after purchasing an additional 235 shares.
Overall institutional investors and hedge funds own approximately 94.18% of Comfort Systems USA’s outstanding stock.
As of Monday’s market opening on October 2nd , FIX stock opened at $170.41 with a market cap standing at $6.10 billion . The company maintains a debt-to-equity ratio of only %0..12 and possesses a current ratio of 1.01 , a quick ratio of 0.98 ,while sustaining a beta of 1.19 in the market.
Analysts have also offered their insights into Comfort Systems USA, offering an optimistic outlook for its future prospects. StockNews.com recently began coverage on the company, issuing a “buy” rating on its stock. DA Davidson also reviewed Comfort Systems USA and raised its price target to $190.00 from $175.00 while assigning it a “buy” rating in their research report on Friday, July 28th.
In terms of dividends, Comfort Systems USA recently announced a quarterly dividend which was paid out on Monday, August 28th. Stockholders who were recorded as such by Thursday, August 17th received a dividend of $0.225 per share. The ex-dividend date for this payment was Wednesday, August 16th . Notably, this marks an increase from Comfort Systems USA’s previous quarterly dividend value of $0.20. At present, the company’s dividend payout ratio (DPR) stands at 13.29%.
In recent news pertaining to insiders’ transactions within the company , Director Vance W. Tang carried out one such transaction where he sold 1,844 shares of Comfort Systems USA stock on Tuesday, August 8th at an average price of $182 per share; resulting in a total value transacted amounting to $335,608 worth of shares . Following the sale, Tang now owns 25,058 shares in the company with an approximate value of $4,560,556.
Moreover , Senior Vice President Laura Finley Howell executed a transaction that involved selling off her personal holdings in the company . On Thursday , September 7th she sold off precisely:1 ,350 shares at an average price per share set as $187.59 resulting in a final take-away figure amounting to :$253246 .50 . Subsequent to the sale ,the Senior Vice President now holds 6,965 shares of Comfort Systems USA’s stock valued at $1,306,564.35 .
Additionally , Director Vance W. Tang performed another transaction where he sold off 1,844 shares of Comfort Systems USA stock on Tuesday, August 8th at a price per share hosted at:$182 ; causing the transaction to accumulate a value amounting to :$335,608.00 . The disclosure for this particular insider sale is available through the Securities & Exchange Commission website.
Within the last 90 days , insiders have executed and completed transactions involving 42,594 shares of company stock; these shares had an estimated worth of $7,857,591. In conclusion of insider activity , approximately 2.20% of Comfort Systems USA’s common stock ownership is claimed by company insiders.
Comfort Systems USA operates within the construction industry and offers various services including installation, maintenance, repair and replacement of heating, ventilation and air conditioning systems in commercial buildings. With its positive market performance as well as the attention it has received from institutional investors and hedge funds alike, Comfort Systems USA seems poised to capitalize on its success in the industry.
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