AXQ Capital LP Decreases Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• AXQ Capital LP reduced its Comfort Systems USA position by 60% in the second quarter, selling 1,645 shares and retaining 1,096 shares worth approximately $2.17 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with earnings per share of $12.53 beating estimates by $2.08 and revenue rising 50.3% year over year to $3.27 billion.
• The company raised its quarterly dividend to $0.90 per share, while analysts maintained a broadly positive outlook: the stock has a consensus “Buy” rating and an average price target of $2,082.86.

AXQ Capital LP cut its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 60.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,096 shares of the construction company's stock after selling 1,645 shares during the quarter. AXQ Capital LP's holdings in Comfort Systems USA were worth $2,172,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in Comfort Systems USA during the 2nd quarter valued at $26,000. Core Wealth Advisors LLC bought a new stake in shares of Comfort Systems USA during the 4th quarter valued at $28,000. Avalon Trust Co bought a new stake in shares of Comfort Systems USA during the 2nd quarter valued at $32,000. Field & Main Bank purchased a new stake in Comfort Systems USA during the 2nd quarter worth about $32,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Comfort Systems USA during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insider Activity at Comfort Systems USA

In related news, insider Brian Lane sold 16,024 shares of the business's 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 of the company's stock, valued at $233,294,983.65. The trade was a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William George, III sold 2,554 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the sale, the chief financial officer owned 30,250 shares in the company, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,778 shares of company stock valued at $56,306,777 in the last three months. Company insiders own 1.24% of the company's stock.

Comfort Systems USA Trading Up 2.0%

FIX opened at $1,611.87 on Friday. 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, Inc. has a 52 week low of $682.00 and a 52 week high of $2,073.99. The stock has a market cap of $56.72 billion, a PE ratio of 39.64 and a beta of 1.67. The business has a 50 day moving average of $1,708.39 and a 200-day moving average of $1,678.66.

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

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Thursday, August 13th were given a dividend of $0.90 per share. 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. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's dividend payout ratio is 8.85%.

Wall Street Analyst Weigh In

Several research analysts have commented on FIX shares. The Goldman Sachs Group started coverage on Comfort Systems USA in a research note on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 target price for the company. KeyCorp upped their price target on 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. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Friday, July 17th. Finally, Wall Street Zen cut shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. One equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $2,082.86.

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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