Artemis Investment Management LLP Sells 40,136 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Artemis Investment Management cut its stake in Comfort Systems by 43%, selling 40,136 shares in Q4 and now holds 53,195 shares worth about $49.6 million.
• Comfort Systems reported a strong quarter—EPS $10.51 vs $6.81 expected and revenue $2.87B (up 56.5% YoY vs $2.39B consensus)—leading to multiple analyst upgrades and an average price target of $1,923.20.
• The company raised its quarterly dividend to $0.80 ($3.20 annualized) and insiders have sold ~39,288 shares over the last 90 days, while institutional ownership is 96.51%.

Artemis Investment Management LLP cut its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 43.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,195 shares of the construction company's stock after selling 40,136 shares during the quarter. Artemis Investment Management LLP owned approximately 0.15% of Comfort Systems USA worth $49,646,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. JFS Wealth Advisors LLC grew its stake in shares of Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after acquiring an additional 10 shares during the period. West Michigan Advisors LLC grew its holdings in Comfort Systems USA by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 768 shares of the construction company's stock valued at $717,000 after buying an additional 10 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in Comfort Systems USA by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 283 shares of the construction company's stock valued at $264,000 after buying an additional 11 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in Comfort Systems USA by 1.0% during the 3rd quarter. Belpointe Asset Management LLC now owns 1,256 shares of the construction company's stock valued at $1,036,000 after buying an additional 13 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its holdings in Comfort Systems USA by 0.9% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,478 shares of the construction company's stock valued at $1,220,000 after buying an additional 13 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FIX. UBS Group increased their price objective on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the company a "buy" rating in a report on Monday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective for the company in a report on Friday, April 24th. Glj Research began coverage on shares of Comfort Systems USA in a report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective for the company. Finally, DA Davidson increased their price objective on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Comfort Systems USA has an average rating of "Moderate Buy" and an average price target of $1,923.20.

Comfort Systems USA Stock Up 1.7%

NYSE:FIX opened at $1,870.95 on Friday. Comfort Systems USA, Inc. has a twelve month low of $420.88 and a twelve month high of $1,877.35. The company has a market cap of $65.86 billion, a price-to-earnings ratio of 53.98 and a beta of 1.70. The stock has a fifty day simple moving average of $1,497.63 and a 200-day simple moving average of $1,186.36. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the company earned $4.75 earnings per share. The business's revenue for the quarter was up 56.5% compared to the same quarter last year. Analysts anticipate that Comfort Systems USA, Inc. will post 43.42 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date is Friday, May 15th. Comfort Systems USA's dividend payout ratio is 8.08%.

Insider Buying and Selling at Comfort Systems USA

In other news, Director Franklin Myers sold 8,636 shares of Comfort Systems USA stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $1,472.56, for a total transaction of $12,717,028.16. Following the completion of the sale, the director directly owned 73,995 shares in the company, valued at approximately $108,962,077.20. This trade represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Terrence Reed sold 1,116 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $1,397.33, for a total value of $1,559,420.28. Following the transaction, the senior vice president owned 2,834 shares in the company, valued at approximately $3,960,033.22. This represents a 28.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 39,288 shares of company stock valued at $57,165,933. 1.24% of the stock is owned by company 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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