Baird Financial Group Inc. Sells 2,404 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Baird Financial Group cut its Comfort Systems USA stake by 23.8% in the second quarter, selling 2,404 shares and retaining 7,697 shares valued at approximately $15.3 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with earnings of $12.53 per share and revenue of $3.27 billion, exceeding estimates; revenue increased 50.3% year over year.
• The company raised its quarterly dividend to $0.90 from $0.80, while analysts maintained an overall “Buy” rating with an average price target of $2,082.86.

Baird Financial Group Inc. reduced its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 23.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,697 shares of the construction company's stock after selling 2,404 shares during the period. Baird Financial Group Inc.'s holdings in Comfort Systems USA were worth $15,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in shares of Comfort Systems USA in the second quarter worth approximately $26,000. Avalon Trust Co purchased a new stake in Comfort Systems USA in the second quarter worth about $32,000. Field & Main Bank purchased a new stake in Comfort Systems USA in the second quarter worth about $32,000. Carolina Wealth Advisors LLC raised its stake in shares of Comfort Systems USA by 63.6% in the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock worth $36,000 after buying an additional 7 shares during the period. Finally, JNBA Financial Advisors purchased a new stake in shares of Comfort Systems USA in the second quarter worth $42,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insider Buying and Selling

In other news, CFO William George, III sold 2,554 shares of the stock in a transaction on 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 transaction, the chief financial officer owned 30,250 shares of the company's stock, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian E. Lane sold 16,024 shares of Comfort Systems USA stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the completion of 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 SEC filing for this sale provides additional information. Insiders have sold a total of 32,778 shares of company stock valued at $56,306,777 over the last quarter. 1.24% of the stock is owned by corporate insiders.

Comfort Systems USA Stock Performance

Shares of Comfort Systems USA stock opened at $1,688.20 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. The stock's fifty day moving average is $1,686.01 and its two-hundred day moving average is $1,687.89. Comfort Systems USA, Inc. has a 52 week low of $751.85 and a 52 week high of $2,073.99. The company has a market capitalization of $59.41 billion, a PE ratio of 41.52 and a beta of 1.67.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its 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 business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The business's revenue for the quarter was up 50.3% compared to the same quarter last year. During the same period last year, the company earned $6.53 earnings per share. As a group, analysts expect that Comfort Systems USA, Inc. will post 47.2 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Thursday, August 13th were issued a $0.90 dividend. The ex-dividend date was Thursday, August 13th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is presently 8.85%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Comfort Systems USA from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday. UBS Group set a $2,100.00 target price on shares of Comfort Systems USA in a report on Thursday, August 20th. KeyCorp boosted their price target on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Finally, The Goldman Sachs Group initiated coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $2,082.86.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc is a provider of commercial, industrial and institutional heating, ventilation, air conditioning and electrical contracting services. The company designs, installs, maintains and repairs mechanical systems used in buildings and industrial facilities, including heating and cooling equipment, plumbing, piping, controls and related building infrastructure.

The company serves customers through a network of operating subsidiaries across the United States. Its projects and services support a range of facilities, including office buildings, healthcare and educational institutions, manufacturing sites, technology and data center facilities, and other commercial and industrial properties.

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