AIA Group Ltd Reduces Position in Comfort Systems USA, Inc. $FIX

Key Points

• AIA Group Ltd cut its stake in Comfort Systems USA by 61.8% in the first quarter, leaving it with 563 shares worth about $776,000.
• Comfort Systems USA posted strong quarterly results, with EPS of $10.51 and revenue of $2.87 billion, both well above estimates; revenue jumped 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 from $0.70, while analysts currently maintain a Moderate Buy consensus with an average price target of $2,015.43.

AIA Group Ltd cut its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 61.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 563 shares of the construction company's stock after selling 909 shares during the period. AIA Group Ltd's holdings in Comfort Systems USA were worth $776,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Coston McIsaac & Partners lifted its stake in shares of Comfort Systems USA by 3.0% in the 1st quarter. Coston McIsaac & Partners now owns 239 shares of the construction company's stock worth $329,000 after purchasing an additional 7 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Comfort Systems USA by 1.4% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 572 shares of the construction company's stock worth $789,000 after buying an additional 8 shares during the last quarter. Fulton Bank N.A. grew its position in Comfort Systems USA by 1.3% during the first quarter. Fulton Bank N.A. now owns 603 shares of the construction company's stock valued at $832,000 after buying an additional 8 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in Comfort Systems USA by 29.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after buying an additional 9 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in Comfort Systems USA by 3.0% during the fourth quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock valued at $291,000 after buying an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

FIX opened at $1,712.83 on Tuesday. The company has a 50 day simple moving average of $1,855.02 and a two-hundred day simple moving average of $1,549.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market cap of $60.29 billion, a P/E ratio of 49.42 and a beta of 1.66. Comfort Systems USA, Inc. has a 1-year low of $513.99 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, beating the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm earned $4.75 EPS. The company's revenue was up 56.5% on a year-over-year basis. Equities analysts forecast that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were given a $0.80 dividend. The ex-dividend date was Friday, May 15th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is presently 9.23%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Zacks Research cut shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. Wall Street Zen lowered Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. The Goldman Sachs Group started coverage on Comfort Systems USA in a report on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 target price on the stock. Erste Group Bank downgraded Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a report on Friday. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $2,015.43.

Insider Transactions at Comfort Systems USA

In other news, Director William J. Sandbrook sold 1,500 shares of the business's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total value of $2,599,005.00. Following the transaction, the director owned 7,666 shares of the company's stock, valued at approximately $13,282,648.22. The trade was a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Franklin Myers sold 6,700 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the transaction, the director owned 62,115 shares of the company's stock, valued at approximately $121,401,904.05. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,778 shares of company stock valued at $59,746,124. 1.24% of the stock is owned by corporate insiders.

Comfort Systems USA Profile

Comfort Systems USA, Inc is a U.S.-based mechanical contracting company that provides a range of heating, ventilation and air conditioning (HVAC) services to commercial, industrial and institutional customers. The company focuses on the design, installation, maintenance and repair of HVAC systems, and it supports projects from initial engineering and system selection through long-term service agreements and upgrades.

Its service offerings include new construction and retrofit installations, preventive and corrective maintenance, emergency repair, energy management and building automation systems.

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