BTC Capital Management Inc. Has $679,000 Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• BTC Capital Management Inc. reduced its stake in Comfort Systems USA, Inc. by 24.9% during the second quarter, resulting in holdings worth $679,000.
• Comfort Systems USA reported $6.53 EPS for the quarter, exceeding analysts' expectations, with revenues of $2.17 billion reflecting a 20.1% increase compared to the previous year.
• The company has increased its quarterly dividend to $0.50, up from $0.45, indicating a commitment to returning value to shareholders.

BTC Capital Management Inc. lowered its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 24.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,267 shares of the construction company's stock after selling 419 shares during the period. BTC Capital Management Inc.'s holdings in Comfort Systems USA were worth $679,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kaufman Rossin Wealth LLC boosted its holdings in Comfort Systems USA by 12.6% in the second quarter. Kaufman Rossin Wealth LLC now owns 971 shares of the construction company's stock worth $521,000 after purchasing an additional 109 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Comfort Systems USA by 10.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,219 shares of the construction company's stock worth $654,000 after acquiring an additional 117 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Comfort Systems USA by 7,675.2% in the second quarter. Assenagon Asset Management S.A. now owns 61,346 shares of the construction company's stock valued at $32,894,000 after purchasing an additional 60,557 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in Comfort Systems USA by 9.1% in the second quarter. Moody National Bank Trust Division now owns 2,996 shares of the construction company's stock worth $1,606,000 after acquiring an additional 250 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its position in Comfort Systems USA by 19.2% during the second quarter. Redhawk Wealth Advisors Inc. now owns 5,017 shares of the construction company's stock worth $2,690,000 after buying an additional 809 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, COO T Mckenna Trent sold 4,400 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $716.63, for a total value of $3,153,172.00. Following the sale, the chief operating officer owned 21,639 shares of the company's stock, valued at $15,507,156.57. The trade was a 16.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian E. Lane sold 10,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $691.74, for a total transaction of $6,917,400.00. Following the completion of the sale, the insider directly owned 188,046 shares of the company's stock, valued at $130,078,940.04. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,783 shares of company stock valued at $18,710,798. 1.59% of the stock is owned by company insiders.

Comfort Systems USA Trading Up 2.9%

Shares of Comfort Systems USA stock traded up $23.28 during midday trading on Monday, reaching $820.99. The company had a trading volume of 424,565 shares, compared to its average volume of 392,368. The firm has a market cap of $28.96 billion, a PE ratio of 42.19 and a beta of 1.54. The stock has a fifty day moving average price of $689.37 and a 200 day moving average price of $519.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. Comfort Systems USA, Inc. has a fifty-two week low of $276.44 and a fifty-two week high of $824.29.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.84 by $1.69. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%.Comfort Systems USA's revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.74 earnings per share. On average, equities analysts anticipate that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 0.2%. Comfort Systems USA's payout ratio is presently 10.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FIX. DA Davidson upped their price objective on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. UBS Group increased their target price on shares of Comfort Systems USA from $710.00 to $875.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Northcoast Research cut shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. William Blair assumed coverage on shares of Comfort Systems USA in a report on Thursday, September 11th. They issued an "outperform" rating on the stock. Finally, Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $668.60.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.