Avior Wealth Management LLC Decreases Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Avior Wealth Management cut its Comfort Systems USA stake by 48.6% in the second quarter, selling 800 shares and retaining 847 shares valued at approximately $1.68 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported a strong quarter, with EPS of $12.53 versus the $10.45 estimate and revenue of $3.27 billion, up 50.3% year over year. The company also raised its quarterly dividend to $0.90 per share.
• The stock opened at $1,711.49, down 1.5%, while analysts maintained an overall “Buy” rating with an average price target of $2,057.86. Insiders sold 9,165 shares worth about $18.0 million over the past 90 days.

Avior Wealth Management LLC cut its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 48.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 847 shares of the construction company's stock after selling 800 shares during the quarter. Avior Wealth Management LLC's holdings in Comfort Systems USA were worth $1,679,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FIX. NewEdge Advisors LLC boosted its holdings in Comfort Systems USA by 41.1% in the first quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company's stock valued at $1,100,000 after purchasing an additional 993 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Comfort Systems USA by 110.6% during the 1st quarter. Focus Partners Wealth now owns 2,300 shares of the construction company's stock valued at $741,000 after buying an additional 1,208 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Comfort Systems USA by 40.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company's stock valued at $579,000 after buying an additional 313 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Comfort Systems USA in the 2nd quarter valued at about $567,000. Finally, Sei Investments Co. boosted its stake in shares of Comfort Systems USA by 69.2% in the second quarter. Sei Investments Co. now owns 43,631 shares of the construction company's stock worth $23,395,000 after buying an additional 17,839 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Insiders Place Their Bets

In other Comfort Systems USA news, CFO William George III sold 1,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the completion of the transaction, the chief financial officer owned 32,804 shares of the company's stock, valued at $66,295,571.84. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rhoman J. Hardy sold 342 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the completion of the sale, the director owned 1,890 shares of the company's stock, valued at $3,591,151.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,165 shares of company stock valued at $18,012,152 over the last 90 days. Company insiders own 1.24% of the company's stock.

Comfort Systems USA Stock Down 1.5%

Shares of FIX opened at $1,711.49 on Friday. Comfort Systems USA, Inc. has a 52-week low of $655.96 and a 52-week high of $2,073.99. The company has a market capitalization of $60.23 billion, a PE ratio of 42.09 and a beta of 1.69. The stock has a fifty day simple moving average of $1,809.17 and a two-hundred day simple moving average of $1,613.78. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The business's revenue was up 50.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.53 EPS. As a group, equities analysts forecast that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, August 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. Comfort Systems USA's dividend payout ratio (DPR) is currently 7.87%.

Analysts Set New Price Targets

FIX has been the subject of several recent research reports. Erste Group Bank lowered shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a report on Wednesday, July 15th. 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 target on the stock. KeyCorp raised their price target on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Oppenheimer assumed coverage on shares of Comfort Systems USA in a report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price objective for the company. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $2,057.86.

Comfort Systems USA Company 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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