Bank of New York Mellon Corp Sells 9,493 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Bank of New York Mellon reduced its stake in Comfort Systems USA by 4.2% in the first quarter, selling 9,493 shares and leaving it with 218,195 shares worth about $300.9 million.
• Comfort Systems USA reported strong first-quarter earnings, posting $10.51 EPS versus $6.81 expected and revenue of $2.87 billion versus $2.39 billion expected. Revenue jumped 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts currently rate the stock a Moderate Buy with an average price target of $2,015.43.

Bank of New York Mellon Corp decreased its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,195 shares of the construction company's stock after selling 9,493 shares during the quarter. Bank of New York Mellon Corp owned about 0.62% of Comfort Systems USA worth $300,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FIX. Blackhawk Capital Partners LLC grew its stake in Comfort Systems USA by 5.4% during the 1st quarter. Blackhawk Capital Partners LLC now owns 3,384 shares of the construction company's stock valued at $4,667,000 after purchasing an additional 174 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Comfort Systems USA by 6.0% in the first quarter. Illinois Municipal Retirement Fund now owns 6,797 shares of the construction company's stock valued at $9,373,000 after purchasing an additional 384 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Comfort Systems USA by 741.2% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,019 shares of the construction company's stock worth $2,784,000 after purchasing an additional 1,779 shares during the period. Sigma Planning Corp raised its stake in shares of Comfort Systems USA by 57.0% during the 1st quarter. Sigma Planning Corp now owns 1,361 shares of the construction company's stock valued at $1,877,000 after buying an additional 494 shares during the last quarter. Finally, Cogent Strategic Wealth LLC purchased a new position in shares of Comfort Systems USA during the 1st quarter valued at about $305,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Performance

NYSE:FIX opened at $1,667.28 on Friday. Comfort Systems USA, Inc. has a 12 month low of $513.99 and a 12 month high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market capitalization of $58.69 billion, a PE ratio of 48.10 and a beta of 1.66. The business's fifty day moving average price is $1,861.34 and its 200 day moving average price is $1,540.19.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.81 by $3.70. The firm had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The business's revenue was up 56.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.75 EPS. On average, sell-side analysts anticipate that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Insider Buying and Selling at Comfort Systems USA

In related news, Director Franklin Myers sold 6,700 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the transaction, the director directly owned 62,115 shares of the company's stock, valued at approximately $121,401,904.05. The trade was a 9.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO William George III sold 1,000 shares of the company's stock in a transaction on 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 30,778 shares of company stock valued at $59,746,124. Corporate insiders own 1.24% of the company's stock.

Analysts Set New Price Targets

FIX has been the subject of several recent research reports. Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Zacks Research lowered Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 26th. KeyCorp upgraded shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target for the company in a research report on Friday, April 24th. UBS Group increased their target price on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a "buy" rating in a report on Monday, June 8th. Finally, Erste Group Bank downgraded Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Comfort Systems USA presently has a consensus rating of "Moderate Buy" and an average price target of $2,015.43.

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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