Bessemer Group Inc. Lowers Position in Comfort Systems USA, Inc. $FIX

Key Points

• Bessemer Group Inc. cut its Comfort Systems USA stake by 25.9% in the first quarter, selling 7,766 shares and ending with 22,192 shares valued at about $30.6 million.
• Institutional ownership remains extremely high, with hedge funds and other institutions holding 96.51% of the stock. Several large investors, including Vanguard, State Street, and Geode, increased their positions.
• Comfort Systems USA reported a strong quarter, with EPS of $10.51 beating estimates and revenue rising 56.5% year over year to $2.87 billion. The company also raised its quarterly dividend to $0.80 from $0.70.

Bessemer Group Inc. trimmed its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 25.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,192 shares of the construction company's stock after selling 7,766 shares during the quarter. Bessemer Group Inc. owned 0.06% of Comfort Systems USA worth $30,603,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FIX. Vanguard Group Inc. increased 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 purchasing an additional 625,567 shares during the period. Norges Bank purchased a new stake in shares of Comfort Systems USA in the fourth quarter valued at approximately $469,606,000. State Street Corp boosted its stake 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 buying an additional 375,118 shares in the last quarter. Geode Capital Management LLC grew its holdings in Comfort Systems USA by 39.0% during 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 acquiring an additional 332,441 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Comfort Systems USA by 37,987.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company's stock worth $289,349,000 after acquiring an additional 309,217 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the stock in a transaction 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 sale, the director owned 62,115 shares in the company, valued at approximately $121,401,904.05. This represents a 9.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rhoman J. Hardy sold 342 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,900.08, for a total value of $649,827.36. Following the transaction, the director directly owned 1,890 shares of the company's stock, valued at $3,591,151.20. The trade was a 15.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,778 shares of company stock worth $59,746,124 in the last quarter. Insiders own 1.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Erste Group Bank cut Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday. The Goldman Sachs Group initiated coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They set a "buy" rating and a $2,159.00 price target on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Glj Research assumed coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price objective for the company. Finally, KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective on the stock in a report on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $2,015.43.

Comfort Systems USA Stock Performance

Shares of FIX stock opened at $1,667.28 on Friday. The stock has a fifty day moving average price of $1,861.34 and a 200 day moving average price of $1,540.19. The stock has a market cap of $58.69 billion, a PE ratio of 48.10 and a beta of 1.66. Comfort Systems USA, Inc. has a 1 year low of $513.99 and a 1 year high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, beating the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the company earned $4.75 earnings per share. Comfort Systems USA's revenue was up 56.5% compared to the same quarter last year. Sell-side analysts forecast 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. Investors of record on Friday, May 15th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio is currently 9.23%.

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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