BayBridge Capital Group LLC Sells 619 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• BayBridge Capital Group reduced its Comfort Systems USA stake by 71.5% in the second quarter, selling 619 shares and retaining 247 shares valued at approximately $490,000. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 beating estimates by $2.08 and revenue rising 50.3% year over year to $3.27 billion. The company also increased its quarterly dividend to $0.90 per share.
• Analysts maintain a consensus “Buy” rating with an average price target of $2,082.86, although company insiders sold 32,778 shares worth $56.3 million over the past 90 days.

BayBridge Capital Group LLC cut its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 71.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 247 shares of the construction company's stock after selling 619 shares during the period. BayBridge Capital Group LLC's holdings in Comfort Systems USA were worth $490,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the company. Signature Equity Partners LLC grew its holdings in Comfort Systems USA by 16.7% during the first quarter. Signature Equity Partners LLC now owns 35 shares of the construction company's stock worth $48,000 after purchasing an additional 5 shares during the period. Capital Advisors Inc. OK boosted its holdings in Comfort Systems USA by 1.9% in the 2nd quarter. Capital Advisors Inc. OK now owns 321 shares of the construction company's stock valued at $636,000 after purchasing an additional 6 shares during the period. Coston McIsaac & Partners boosted its stake in shares of Comfort Systems USA by 3.0% in the first quarter. Coston McIsaac & Partners now owns 239 shares of the construction company's stock valued at $329,000 after buying an additional 7 shares during the period. Petra Financial Advisors Inc. lifted its position in shares of Comfort Systems USA by 0.7% during the 1st quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company's stock valued at $1,489,000 after acquiring an additional 7 shares during the period. Finally, Carolina Wealth Advisors LLC lifted its position in Comfort Systems USA by 63.6% during the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock worth $36,000 after purchasing an additional 7 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

Shares of Comfort Systems USA stock opened at $1,648.94 on Wednesday. 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 business has a 50 day moving average price of $1,694.96 and a 200-day moving average price of $1,685.29. Comfort Systems USA, Inc. has a 52 week low of $698.06 and a 52 week high of $2,073.99. The company has a market cap of $58.03 billion, a PE ratio of 40.55 and a beta of 1.67.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.45 by $2.08. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the business posted $6.53 EPS. The business's revenue was up 50.3% compared to the same quarter last year. Equities analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Thursday, August 13th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $3.60 annualized dividend 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 payout ratio is 8.85%.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the sale, the director directly owned 62,115 shares in the company, valued at $121,401,904.05. The trade was a 9.74% 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, CFO William George, III sold 2,554 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the sale, the chief financial officer owned 30,250 shares in the company, valued at $56,254,412.50. This represents a 7.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 32,778 shares of company stock worth $56,306,777. 1.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on FIX. The Goldman Sachs Group started coverage on Comfort Systems USA in a research note on Thursday, July 9th. They set a "buy" rating and a $2,159.00 target price for the company. UBS Group set a $2,100.00 target price on shares of Comfort Systems USA in a research report on Thursday, August 20th. Oppenheimer initiated coverage on Comfort Systems USA in a research report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price target on the stock. Erste Group Bank lowered shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $2,082.86.

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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