State of Michigan Retirement System Has $2.76 Million Stock Holdings in Comfort Systems USA, Inc. (NYSE:FIX)

State of Michigan Retirement System raised its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) by 1.2% during the 1st quarter, HoldingsChannel reports. The firm owned 8,700 shares of the construction company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Comfort Systems USA were worth $2,764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP acquired a new position in Comfort Systems USA during the fourth quarter valued at approximately $87,733,000. Norges Bank acquired a new stake in shares of Comfort Systems USA in the fourth quarter worth $81,299,000. Wellington Management Group LLP grew its stake in shares of Comfort Systems USA by 13.9% in the third quarter. Wellington Management Group LLP now owns 310,413 shares of the construction company’s stock worth $52,897,000 after acquiring an additional 37,785 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of Comfort Systems USA by 3.4% in the first quarter. Congress Asset Management Co. MA now owns 271,323 shares of the construction company’s stock worth $86,202,000 after acquiring an additional 8,889 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Comfort Systems USA by 73.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 269,068 shares of the construction company’s stock worth $55,339,000 after acquiring an additional 114,115 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th.

Insider Buying and Selling

In related news, Director Vance W. Tang sold 3,473 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $310.00, for a total value of $1,076,630.00. Following the completion of the transaction, the director now directly owns 8,198 shares of the company’s stock, valued at $2,541,380. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Comfort Systems USA news, Director Vance W. Tang sold 988 shares of Comfort Systems USA stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $343.00, for a total transaction of $338,884.00. Following the completion of the transaction, the director now directly owns 11,173 shares of the company’s stock, valued at $3,832,339. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vance W. Tang sold 3,473 shares of Comfort Systems USA stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $310.00, for a total value of $1,076,630.00. Following the transaction, the director now directly owns 8,198 shares of the company’s stock, valued at $2,541,380. The disclosure for this sale can be found here. Insiders sold a total of 7,961 shares of company stock valued at $2,622,664 over the last ninety days. 1.80% of the stock is owned by company insiders.

Comfort Systems USA Trading Up 6.3 %

Shares of Comfort Systems USA stock opened at $312.32 on Thursday. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 30.92 and a beta of 1.15. Comfort Systems USA, Inc. has a 1 year low of $151.89 and a 1 year high of $352.45. The company’s fifty day simple moving average is $321.05 and its 200-day simple moving average is $281.26. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.06.

Comfort Systems USA (NYSE:FIX) last issued its earnings results on Thursday, April 25th. The construction company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.26 by $0.43. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Comfort Systems USA had a return on equity of 28.65% and a net margin of 6.51%. Comfort Systems USA’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period last year, the business earned $1.51 earnings per share. As a group, sell-side analysts expect that Comfort Systems USA, Inc. will post 11.9 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were given a $0.30 dividend. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 0.38%. The ex-dividend date was Friday, May 10th. Comfort Systems USA’s dividend payout ratio (DPR) is 11.88%.

About Comfort Systems USA

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.