The Manufacturers Life Insurance Company Cuts Stock Position in Comfort Systems USA, Inc. (NYSE:FIX)

The Manufacturers Life Insurance Company reduced its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,954 shares of the construction company's stock after selling 2,367 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Comfort Systems USA worth $11,430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Consolidated Planning Corp increased its stake in shares of Comfort Systems USA by 49.0% in the fourth quarter. Consolidated Planning Corp now owns 4,783 shares of the construction company's stock worth $2,028,000 after purchasing an additional 1,573 shares in the last quarter. Diversified Trust Co bought a new stake in Comfort Systems USA during the fourth quarter valued at about $2,998,000. Raymond James Financial Inc. purchased a new position in shares of Comfort Systems USA in the fourth quarter valued at about $39,038,000. BOCHK Asset Management Ltd bought a new position in shares of Comfort Systems USA in the fourth quarter worth about $509,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Comfort Systems USA during the fourth quarter worth about $292,000. 96.51% of the stock is currently owned by institutional investors.

Comfort Systems USA Trading Down 0.7 %

Shares of NYSE FIX traded down $3.29 during trading hours on Friday, hitting $435.86. 252,102 shares of the company traded hands, compared to its average volume of 439,011. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 29.83 and a beta of 1.48. The company's 50 day moving average price is $355.28 and its 200 day moving average price is $412.46. Comfort Systems USA, Inc. has a 12 month low of $272.93 and a 12 month high of $553.09. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The construction company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.09. Comfort Systems USA had a net margin of 7.43% and a return on equity of 35.28%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $2.69 earnings per share. The firm's quarterly revenue was up 19.1% compared to the same quarter last year. On average, equities research analysts anticipate that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.45 per share. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Friday, May 16th. Comfort Systems USA's payout ratio is currently 10.80%.

Analysts Set New Price Targets

FIX has been the subject of a number of research analyst reports. Sidoti raised shares of Comfort Systems USA from a "neutral" rating to a "buy" rating and set a $552.00 price objective for the company in a report on Monday, February 24th. StockNews.com downgraded shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. DA Davidson raised their price objective on Comfort Systems USA from $440.00 to $465.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Finally, Stifel Nicolaus decreased their target price on Comfort Systems USA from $577.00 to $471.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $517.60.

Insider Transactions at Comfort Systems USA

In other news, insider Brian E. Lane sold 15,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $431.66, for a total transaction of $6,474,900.00. Following the transaction, the insider now owns 198,046 shares of the company's stock, valued at approximately $85,488,536.36. This represents a 7.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Darcy Anderson sold 3,000 shares of Comfort Systems USA stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $431.66, for a total value of $1,294,980.00. Following the completion of the sale, the director now owns 34,193 shares of the company's stock, valued at $14,759,750.38. The trade was a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,300 shares of company stock worth $8,765,860. Insiders own 1.59% of the company's stock.

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.