Azzad Asset Management Inc. ADV Has $1.85 Million Stock Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Azzad Asset Management cut its Comfort Systems USA stake by 52.9% in the first quarter, leaving it with 1,345 shares valued at about $1.85 million.
• Comfort Systems USA reported strong quarterly results, with earnings of $10.51 per share and revenue of $2.87 billion, both beating analyst expectations; revenue rose 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $2,015.43.

Azzad Asset Management Inc. ADV decreased its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 52.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,345 shares of the construction company's stock after selling 1,513 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Comfort Systems USA were worth $1,855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Comfort Systems USA by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after acquiring an additional 625,567 shares during the last quarter. State Street Corp grew its position in shares of Comfort Systems USA by 35.6% in the fourth 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Comfort Systems USA by 39.0% in the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock worth $1,103,453,000 after purchasing an additional 332,441 shares during the period. Invesco Ltd. increased its stake in shares of Comfort Systems USA by 7.4% in the third quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock worth $878,454,000 after purchasing an additional 73,727 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Comfort Systems USA by 22.1% in the fourth quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company's stock worth $951,883,000 after purchasing an additional 184,362 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Comfort Systems USA Trading Down 1.6%

Shares of FIX opened at $1,752.95 on Friday. The stock's 50-day moving average price is $1,883.81 and its 200 day moving average price is $1,513.61. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $61.71 billion, a price-to-earnings ratio of 50.58 and a beta of 1.66. Comfort Systems USA, Inc. has a 12-month low of $513.99 and a 12-month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company's quarterly revenue was up 56.5% on a year-over-year basis. During the same quarter last year, the company earned $4.75 EPS. As a group, research analysts predict that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were paid a dividend of $0.80 per share. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, May 15th. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Oppenheimer assumed coverage on Comfort Systems USA in a research note on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 target price for the company. The Goldman Sachs Group assumed coverage on Comfort Systems USA in a research report on Thursday. They issued a "buy" rating and a $2,159.00 price target on the stock. Stifel Nicolaus increased their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Finally, UBS Group boosted their target price on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,015.43.

Insider Activity

In other news, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the sale, the director directly owned 62,115 shares in the company, valued at approximately $121,401,904.05. The trade was a 9.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William George III sold 1,000 shares of Comfort Systems USA 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 sale, the chief financial officer owned 32,804 shares in the company, valued at approximately $66,295,571.84. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,778 shares of company stock valued at $59,746,124. 1.24% of the stock is owned by 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.

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.