Allspring Global Investments Holdings LLC Invests $65.60 Million in Comfort Systems USA, Inc. $FIX

Allspring Global Investments Holdings LLC purchased a new position in Comfort Systems USA, Inc. (NYSE:FIX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,366 shares of the construction company’s stock, valued at approximately $65,604,000. Allspring Global Investments Holdings LLC owned about 0.19% of Comfort Systems USA as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its holdings in shares of Comfort Systems USA by 29.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company’s stock valued at $41,000 after acquiring an additional 10 shares in the last quarter. Armstrong Advisory Group Inc. grew its position in Comfort Systems USA by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 283 shares of the construction company’s stock valued at $264,000 after purchasing an additional 11 shares during the last quarter. Belpointe Asset Management LLC increased its stake in Comfort Systems USA by 1.0% during the 3rd quarter. Belpointe Asset Management LLC now owns 1,256 shares of the construction company’s stock valued at $1,036,000 after purchasing an additional 13 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in Comfort Systems USA by 0.9% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,478 shares of the construction company’s stock valued at $1,220,000 after purchasing an additional 13 shares in the last quarter. Finally, Ameriflex Group Inc. raised its holdings in Comfort Systems USA by 100.0% in the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company’s stock worth $25,000 after buying an additional 15 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

Insider Activity at Comfort Systems USA

In other news, insider Brian E. Lane sold 9,365 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $1,453.12, for a total value of $13,608,468.80. Following the transaction, the insider owned 171,523 shares in the company, valued at $249,243,501.76. This represents a 5.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William J. Sandbrook sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $1,443.32, for a total transaction of $3,608,300.00. Following the completion of the transaction, the director owned 9,166 shares in the company, valued at $13,229,471.12. This trade represents a 21.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 37,288 shares of company stock valued at $53,677,038 in the last 90 days. 1.59% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FIX. Stifel Nicolaus set a $1,611.00 price target on shares of Comfort Systems USA in a report on Monday, February 23rd. DA Davidson boosted their price objective on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. UBS Group reiterated a “buy” rating and set a $1,310.00 target price on shares of Comfort Systems USA in a research note on Monday, February 2nd. Finally, Zacks Research raised Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $1,573.67.

Comfort Systems USA Stock Performance

Shares of NYSE FIX opened at $1,375.02 on Wednesday. The firm’s 50-day moving average price is $1,323.34 and its 200-day moving average price is $1,065.83. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.06. The company has a market cap of $48.37 billion, a PE ratio of 47.58 and a beta of 1.62. Comfort Systems USA, Inc. has a 52-week low of $276.44 and a 52-week high of $1,500.00.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings data on Thursday, February 19th. The construction company reported $9.37 earnings per share for the quarter, beating the consensus estimate of $6.75 by $2.62. Comfort Systems USA had a net margin of 11.23% and a return on equity of 48.52%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the company earned $4.09 earnings per share. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. As a group, analysts anticipate that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Friday, March 6th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.2%. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 6th. Comfort Systems USA’s dividend payout ratio (DPR) is currently 9.69%.

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.