2,866 Comfort Systems USA, Inc. $FIX Shares Sold by Asset Management One Co. Ltd.

Key Points

• Asset Management One reduced its Comfort Systems USA stake by 11.8%, selling 2,866 shares in the third quarter while retaining 21,424 shares valued at approximately $35.4 million. Institutional investors and hedge funds collectively own 96.51% of the company.
• Comfort Systems USA exceeded quarterly expectations, reporting EPS of $13.91 versus the $12.85 consensus and revenue of $3.77 billion, up 53.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,916.14.
• Insiders sold 26,078 shares worth roughly $43.2 million over the past three months, while the company announced a sharp dividend reduction to $0.10 per share quarterly from $0.90.

Asset Management One Co. Ltd. cut its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,424 shares of the construction company's stock after selling 2,866 shares during the period. Asset Management One Co. Ltd. owned about 0.06% of Comfort Systems USA worth $35,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in Comfort Systems USA in the 2nd quarter valued at $6,734,037,000. Deutsche Bank AG acquired a new position in Comfort Systems USA in the second quarter worth $443,751,000. Legal & General Group Plc bought a new stake in shares of Comfort Systems USA during the second quarter worth $400,096,000. Bank of New York Mellon Corp bought a new stake in shares of Comfort Systems USA during the second quarter worth $370,479,000. Finally, Amundi grew its holdings in shares of Comfort Systems USA by 114.1% during the second quarter. Amundi now owns 292,904 shares of the construction company's stock worth $580,521,000 after purchasing an additional 156,069 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Comfort Systems USA

In other news, insider Brian E. Lane sold 16,024 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the completion of the sale, the insider owned 145,065 shares in the company, valued at $233,294,983.65. The trade was a 9.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Franklin Myers sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the sale, the director directly owned 8,495 shares of the company's stock, valued at approximately $14,389,850.40. This trade represents a 32.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 26,078 shares of company stock worth $43,211,828. Company insiders own 1.24% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on FIX shares. Zacks Research lowered Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Stifel Nicolaus set a $1,808.00 price target on shares of Comfort Systems USA in a research report on Monday. KeyCorp reduced 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 research report on Monday. DA Davidson set a $1,850.00 price objective on shares of Comfort Systems USA in a report on Monday. Finally, UBS Group lowered their price objective on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a "buy" rating for the company in a research report on Monday. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,916.14.

Comfort Systems USA Trading Up 4.5%

Shares of FIX opened at $1,346.81 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a 12-month low of $841.66 and a 12-month high of $2,073.99. The firm has a market capitalization of $47.12 billion, a PE ratio of 29.08 and a beta of 1.66. The stock's fifty day simple moving average is $1,577.57 and its 200-day simple moving average is $1,594.63.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted 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 business had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.40 billion. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. The firm's quarterly revenue was up 53.7% compared to the same quarter last year. During the same quarter last year, the business earned $8.25 earnings per share. As a group, research analysts predict that Comfort Systems USA, Inc. will post 49.21 earnings per share for the current year.

Comfort Systems USA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, November 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Thursday, November 12th. This is a drop from Comfort Systems USA's previous quarterly dividend of $0.90. Comfort Systems USA's dividend payout ratio is currently 8.64%.

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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