Argent Capital Management LLC Sells 4,134 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Argent Capital Management cut its stake in Comfort Systems USA (FIX) by 41.7% in Q4, selling 4,134 shares and leaving it with 5,783 shares valued at about $5.40 million.
• Significant insider selling: SVP Terrence Reed sold 1,116 shares (~$1.56M) and Director Franklin Myers sold 8,636 shares (~$12.72M); insiders sold 37,288 shares worth ~$53.68M in the last quarter and now own 1.59% of the company.
• Earnings beat and payout increase: FIX reported Q EPS of $9.37 vs. $6.75 expected and revenue of $2.65B (up 41.7% YoY), and raised its quarterly dividend to $0.70; analysts hold a consensus Buy with a $1,573.67 target.

Argent Capital Management LLC decreased its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 41.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,783 shares of the construction company's stock after selling 4,134 shares during the period. Argent Capital Management LLC's holdings in Comfort Systems USA were worth $5,397,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp bought a new stake in shares of Comfort Systems USA during the third quarter valued at approximately $25,000. Quent Capital LLC bought a new position in Comfort Systems USA in the third quarter worth $25,000. Ameriflex Group Inc. lifted its position in Comfort Systems USA by 100.0% during the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock valued at $25,000 after buying an additional 15 shares during the period. Eastern Bank bought a new stake in shares of Comfort Systems USA during the 3rd quarter valued at $31,000. Finally, Financial Life Planners bought a new stake in shares of Comfort Systems USA during the 3rd quarter valued at $42,000. Institutional investors own 96.51% of the company's stock.

Insider Buying and Selling at Comfort Systems USA

In related news, SVP Terrence Reed sold 1,116 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $1,397.33, for a total transaction of $1,559,420.28. Following the sale, the senior vice president directly owned 2,834 shares of the company's stock, valued at $3,960,033.22. This trade represents a 28.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Franklin Myers sold 8,636 shares of Comfort Systems USA stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $1,472.56, for a total value of $12,717,028.16. Following the completion of the sale, the director owned 73,995 shares of the company's stock, valued at $108,962,077.20. The trade was a 10.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 37,288 shares of company stock worth $53,677,038. Insiders own 1.59% of the company's stock.

Analyst Upgrades and Downgrades

FIX has been the subject of several research reports. UBS Group reiterated a "buy" rating and issued a $1,310.00 price target on shares of Comfort Systems USA in a research note on Monday, February 2nd. DA Davidson upped their price objective on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 3rd. Stifel Nicolaus set a $1,611.00 target price on shares of Comfort Systems USA in a report on Monday, February 23rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $1,573.67.

Comfort Systems USA Stock Up 1.4%

NYSE:FIX opened at $1,442.94 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.19 and a current ratio of 1.21. The firm has a market cap of $50.76 billion, a P/E ratio of 49.93 and a beta of 1.63. Comfort Systems USA, Inc. has a fifty-two week low of $276.44 and a fifty-two week high of $1,500.00. The firm has a 50-day simple moving average of $1,274.72 and a two-hundred day simple moving average of $1,024.37.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, February 19th. The construction company reported $9.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.75 by $2.62. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.34 billion. Comfort Systems USA had a net margin of 11.23% and a return on equity of 48.52%. The business's revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.09 earnings per share. Analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Friday, March 6th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, March 6th. This represents a $2.80 annualized dividend and a yield of 0.2%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.60. Comfort Systems USA's dividend payout ratio (DPR) is 9.69%.

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.

Want to see what other hedge funds are holding FIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comfort Systems USA, Inc. (NYSE:FIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.