Alyeska Investment Group L.P. Has $581,000 Stake in Comfort Systems USA, Inc. $FIX

Key Points

• Alyeska Investment Group cut its Comfort Systems USA stake by 97.5% in the second quarter, selling 11,526 shares and retaining 293 shares valued at approximately $581,000. Institutional investors and hedge funds collectively own 96.51% of the company.
• Comfort Systems USA reported quarterly revenue of $3.27 billion, up 50.3% year over year and above estimates, while earnings per share of $12.53 exceeded consensus by $2.08. The company also raised its quarterly dividend to $0.90 per share.
• Analysts remain broadly bullish, with a consensus “Buy” rating and average price target of $2,082.86, although the stock recently opened at $1,554.01, below its 50-day and 200-day moving averages.

Alyeska Investment Group L.P. trimmed its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 97.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 293 shares of the construction company's stock after selling 11,526 shares during the period. Alyeska Investment Group L.P.'s holdings in Comfort Systems USA were worth $581,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Comfort Systems USA in the 2nd quarter valued at about $6,734,037,000. Norges Bank bought a new position in shares of Comfort Systems USA during the 4th quarter valued at $469,606,000. State Street Corp raised its holdings in shares of Comfort Systems USA by 35.6% during the 4th quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock valued at $1,333,367,000 after purchasing an additional 375,118 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Comfort Systems USA by 39.0% in the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after purchasing an additional 332,441 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Comfort Systems USA by 37,987.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company's stock valued at $289,349,000 after purchasing an additional 309,217 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Comfort Systems USA Price Performance

NYSE:FIX opened at $1,554.01 on Wednesday. The company has a fifty day moving average price of $1,729.78 and a 200 day moving average price of $1,675.62. The stock has a market cap of $54.69 billion, a P/E ratio of 38.22 and a beta of 1.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. Comfort Systems USA, Inc. has a one year low of $670.19 and a one year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, topping analysts' consensus estimates of $10.45 by $2.08. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the business earned $6.53 earnings per share. The firm's revenue for the quarter was up 50.3% compared to the same quarter last year. Analysts anticipate that Comfort Systems USA, Inc. will post 47.2 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Thursday, August 13th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.2%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, August 13th. Comfort Systems USA's dividend payout ratio (DPR) is 8.85%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FIX. KeyCorp boosted their target price on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Oppenheimer assumed coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Comfort Systems USA in a report on Thursday, July 9th. They set a "buy" rating and a $2,159.00 price objective for the company. DA Davidson started coverage on shares of Comfort Systems USA in a research note on Friday, August 21st. They issued a "buy" rating and a $2,100.00 target price on the stock. Finally, UBS Group set a $2,100.00 target price on shares of Comfort Systems USA in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $2,082.86.

Insider Buying and Selling

In other news, CFO William George III sold 2,554 shares of the firm's stock in a transaction dated 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian E. Lane sold 16,024 shares of Comfort Systems USA stock in a transaction dated 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 sale, the insider owned 145,065 shares in the company, valued at approximately $233,294,983.65. This trade represents a 9.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,778 shares of company stock valued at $56,306,777 over the last ninety days. 1.24% of the stock is owned by company insiders.

About Comfort Systems USA

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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