Fred Alger Management LLC Boosts Holdings in Comfort Systems USA, Inc. (NYSE:FIX)

Fred Alger Management LLC grew its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 20.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,176 shares of the construction company's stock after purchasing an additional 2,370 shares during the period. Fred Alger Management LLC's holdings in Comfort Systems USA were worth $5,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd boosted its position in Comfort Systems USA by 7.1% in the 3rd quarter. Covestor Ltd now owns 465 shares of the construction company's stock valued at $182,000 after buying an additional 31 shares during the period. Signaturefd LLC boosted its holdings in Comfort Systems USA by 9.3% in the third quarter. Signaturefd LLC now owns 377 shares of the construction company's stock valued at $147,000 after purchasing an additional 32 shares during the period. OneDigital Investment Advisors LLC grew its stake in Comfort Systems USA by 1.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,912 shares of the construction company's stock worth $746,000 after purchasing an additional 34 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Comfort Systems USA by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,043 shares of the construction company's stock worth $407,000 after purchasing an additional 35 shares during the period. Finally, Mount Lucas Management LP raised its position in Comfort Systems USA by 2.4% in the 3rd quarter. Mount Lucas Management LP now owns 1,724 shares of the construction company's stock valued at $673,000 after purchasing an additional 40 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Up 1.4 %

FIX traded up $6.62 on Friday, reaching $493.27. The company's stock had a trading volume of 167,318 shares, compared to its average volume of 342,365. The company has a market capitalization of $17.56 billion, a price-to-earnings ratio of 37.74 and a beta of 1.13. Comfort Systems USA, Inc. has a fifty-two week low of $185.83 and a fifty-two week high of $510.79. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $426.20 and a two-hundred day moving average of $359.03.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, October 24th. The construction company reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.97 by $0.12. Comfort Systems USA had a net margin of 7.18% and a return on equity of 32.74%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the business posted $2.74 EPS. The company's revenue for the quarter was up 31.5% on a year-over-year basis. As a group, analysts forecast that Comfort Systems USA, Inc. will post 13.95 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Thursday, November 14th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.28%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.30. Comfort Systems USA's payout ratio is 10.71%.

Insider Activity

In other news, COO T Mckenna Trent sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $484.81, for a total transaction of $1,939,240.00. Following the transaction, the chief operating officer now directly owns 23,990 shares in the company, valued at approximately $11,630,591.90. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pablo G. Mercado sold 2,500 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $409.46, for a total transaction of $1,023,650.00. Following the completion of the sale, the director now owns 9,036 shares of the company's stock, valued at approximately $3,699,880.56. This trade represents a 21.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,200 shares of company stock valued at $15,431,250. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FIX shares. UBS Group raised Comfort Systems USA from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $396.00 to $525.00 in a research report on Tuesday, November 19th. Northcoast Research started coverage on shares of Comfort Systems USA in a report on Friday, November 22nd. They set a "buy" rating and a $525.00 price target for the company. StockNews.com raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Finally, Stifel Nicolaus assumed coverage on shares of Comfort Systems USA in a research report on Friday, November 15th. They set a "buy" rating and a $524.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $481.00.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.