Engineers Gate Manager LP Cuts Stake in Comfort Systems USA, Inc. $FIX

Engineers Gate Manager LP lessened its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) by 68.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,219 shares of the construction company’s stock after selling 4,830 shares during the quarter. Engineers Gate Manager LP’s holdings in Comfort Systems USA were worth $4,398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Prudential PLC acquired a new stake in shares of Comfort Systems USA during the fourth quarter valued at about $6,922,000. BNP Paribas Financial Markets raised its position in shares of Comfort Systems USA by 230.4% during the 4th quarter. BNP Paribas Financial Markets now owns 57,199 shares of the construction company’s stock valued at $53,383,000 after acquiring an additional 39,888 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Comfort Systems USA during the second quarter worth $601,000. Rothschild Wealth LLC bought a new position in Comfort Systems USA in the fourth quarter worth about $689,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Comfort Systems USA in the 4th quarter worth approximately $5,247,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Insider Buying and Selling at Comfort Systems USA

In other news, CFO William George, III sold 2,554 shares of Comfort Systems USA stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the sale, the chief financial officer owned 30,250 shares of the company’s stock, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Franklin Myers sold 6,700 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 32,778 shares of company stock valued at $56,306,777 in the last quarter. Corporate insiders own 1.24% of the company’s stock.

Comfort Systems USA Price Performance

Shares of Comfort Systems USA stock opened at $1,688.20 on Friday. The stock has a market capitalization of $59.41 billion, a price-to-earnings ratio of 41.52 and a beta of 1.67. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. Comfort Systems USA, Inc. has a 1-year low of $751.85 and a 1-year high of $2,073.99. The firm has a fifty day simple moving average of $1,686.01 and a 200-day simple moving average of $1,687.89.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the company earned $6.53 earnings per share. The business’s quarterly revenue was up 50.3% compared to the same quarter last year. On average, sell-side analysts expect that Comfort Systems USA, Inc. will post 47.2 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were issued a $0.90 dividend. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA’s payout ratio is currently 8.85%.

Analysts Set New Price Targets

Several research firms have commented on FIX. Stifel Nicolaus set a $1,910.00 target price on shares of Comfort Systems USA in a research report on Monday, July 27th. DA Davidson started coverage on shares of Comfort Systems USA in a research report on Friday, August 21st. They set a “buy” rating and a $2,100.00 price objective for the company. The Goldman Sachs Group initiated coverage on Comfort Systems USA in a research report on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price target for the company. Weiss Ratings cut Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. Finally, Erste Group Bank downgraded shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $2,082.86.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc is a provider of commercial, industrial and institutional heating, ventilation, air conditioning and electrical contracting services. The company designs, installs, maintains and repairs mechanical systems used in buildings and industrial facilities, including heating and cooling equipment, plumbing, piping, controls and related building infrastructure.

The company serves customers through a network of operating subsidiaries across the United States. Its projects and services support a range of facilities, including office buildings, healthcare and educational institutions, manufacturing sites, technology and data center facilities, and other commercial and industrial properties.