1,191 Comfort Systems USA, Inc. $FIX Shares Sold by VestGen Advisors LLC

Key Points

• VestGen Advisors reduced its Comfort Systems USA stake by 16%, selling 1,191 shares during the third quarter and retaining 6,268 shares valued at approximately $10.4 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported stronger-than-expected quarterly results, with EPS of $13.91 versus the $12.85 consensus estimate and revenue of $3.77 billion, up 53.7% year over year.
• The company cut its quarterly dividend sharply to $0.10 per share from $0.90. Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,916.14.

VestGen Advisors LLC cut its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 16.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,268 shares of the construction company's stock after selling 1,191 shares during the quarter. VestGen Advisors LLC's holdings in Comfort Systems USA were worth $10,368,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Simplicity Wealth LLC bought a new stake in shares of Comfort Systems USA in the 2nd quarter worth approximately $601,000. New York State Teachers Retirement System grew its holdings in shares of Comfort Systems USA by 2.7% during the 1st quarter. New York State Teachers Retirement System now owns 30,665 shares of the construction company's stock worth $42,287,000 after purchasing an additional 800 shares in the last quarter. Argent Capital Management LLC grew its holdings in shares of Comfort Systems USA by 20.8% during the 1st quarter. Argent Capital Management LLC now owns 6,985 shares of the construction company's stock worth $9,632,000 after purchasing an additional 1,202 shares in the last quarter. IPG Investment Advisors LLC bought a new stake in shares of Comfort Systems USA during the second quarter valued at approximately $1,833,000. Finally, NewEdge Advisors LLC increased its position in shares of Comfort Systems USA by 30.5% during the second quarter. NewEdge Advisors LLC now owns 6,476 shares of the construction company's stock valued at $12,835,000 after purchasing an additional 1,512 shares during the period. 96.51% of the stock is owned by institutional investors.

Insider Transactions at Comfort Systems USA

In other news, Director Franklin Myers sold 4,000 shares of Comfort Systems USA stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the completion of the transaction, the director owned 8,495 shares in the company, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William George, III sold 2,554 shares of Comfort Systems USA stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the transaction, the chief financial officer owned 30,250 shares of the company's stock, valued at $56,254,412.50. This trade represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 26,078 shares of company stock valued at $43,211,828. Corporate insiders own 1.24% of the company's stock.

Comfort Systems USA Stock Up 4.5%

FIX opened at $1,346.81 on Thursday. The firm has a market cap of $47.12 billion, a price-to-earnings ratio of 29.08 and a beta of 1.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.13 and a current ratio of 1.15. The firm's 50-day simple moving average is $1,577.57 and its 200-day simple moving average is $1,594.63. Comfort Systems USA, Inc. has a twelve month low of $841.66 and a twelve month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The construction company reported $13.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.85 by $1.06. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.40 billion. Comfort Systems USA had a net margin of 13.01% and a return on equity of 55.24%. The firm's quarterly revenue was up 53.7% on a year-over-year basis. During the same period last year, the firm posted $8.25 EPS. Equities research analysts anticipate that Comfort Systems USA, Inc. will post 49.21 EPS for the current fiscal year.

Comfort Systems USA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 12th. This is a negative change from Comfort Systems USA's previous quarterly dividend of $0.90. This represents a $0.40 annualized dividend and a dividend yield of 0.0%. Comfort Systems USA's dividend payout ratio (DPR) is 8.64%.

Analyst Ratings Changes

FIX has been the subject of a number of recent research reports. Stifel Nicolaus set a $1,808.00 target price on Comfort Systems USA in a research note on Monday. UBS Group decreased their price target on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a "buy" rating on the stock in a research note on Monday. The Goldman Sachs Group set a $1,875.00 price target on shares of Comfort Systems USA in a report on Tuesday, October 20th. KeyCorp lowered their price target on shares of Comfort Systems USA from $2,125.00 to $1,979.00 and set an "overweight" rating on the stock in a report on Monday. Finally, DA Davidson set a $1,850.00 price objective on shares of Comfort Systems USA in a research note on Monday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Comfort Systems USA has a consensus rating of "Moderate Buy" and a consensus target price of $1,916.14.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc NYSE: FIX is a provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. The company designs, installs, maintains, repairs, and replaces heating, ventilation, air conditioning, and temperature-control systems, as well as plumbing, piping, electrical, and related building systems.

Its services support new construction, building renovations, facility upgrades, and ongoing maintenance. Comfort Systems USA also provides specialized services for data centers, manufacturing facilities, healthcare buildings, educational institutions, and other complex commercial and industrial projects.

Founded in 1997 and headquartered in Houston, Texas, the company operates through a network of regional contracting businesses serving customers across the United States.

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