Clearbridge Investments LLC Lowers Stake in Comfort Systems USA, Inc. $FIX

Key Points

• Clearbridge Investments trimmed its stake in Comfort Systems USA by 3.7% in the fourth quarter, leaving it with 200,545 shares valued at about $187.2 million.
• Comfort Systems USA reported strong quarterly results, posting EPS of $10.51 versus $6.81 expected and revenue of $2.87 billion, up 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain broadly positive with a consensus rating of Buy and an average target price of $1,969.33.

Clearbridge Investments LLC reduced its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,545 shares of the construction company's stock after selling 7,646 shares during the period. Clearbridge Investments LLC owned 0.57% of Comfort Systems USA worth $187,167,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted 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 valued at $4,022,597,000 after acquiring an additional 625,567 shares during the period. Geode Capital Management LLC lifted its position in Comfort Systems USA by 39.0% during the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after acquiring an additional 332,441 shares during the period. Invesco Ltd. lifted its position in Comfort Systems USA by 7.4% during the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock valued at $878,454,000 after acquiring an additional 73,727 shares during the period. AQR Capital Management LLC lifted its position in Comfort Systems USA by 6.8% during the 3rd quarter. AQR Capital Management LLC now owns 835,560 shares of the construction company's stock valued at $678,475,000 after acquiring an additional 53,125 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Comfort Systems USA by 36.8% in the third quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company's stock worth $606,117,000 after buying an additional 197,613 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Down 0.1%

Shares of Comfort Systems USA stock opened at $1,841.59 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The stock has a market capitalization of $64.82 billion, a PE ratio of 53.13 and a beta of 1.66. Comfort Systems USA, Inc. has a 52-week low of $469.16 and a 52-week high of $2,073.99. The company has a 50-day simple moving average of $1,735.08 and a two-hundred day simple moving average of $1,357.46.

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

Comfort Systems USA Increases Dividend

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

Insider Activity

In other news, CFO William George III sold 4,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,948.17, for a total transaction of $7,792,680.00. Following the completion of the transaction, the chief financial officer directly owned 33,804 shares of the company's stock, valued at $65,855,938.68. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franklin Myers sold 4,500 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $1,902.57, for a total transaction of $8,561,565.00. Following the transaction, the director directly owned 68,983 shares of the company's stock, valued at $131,244,986.31. The trade was a 6.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,078 shares of company stock valued at $46,651,175 over the last three months. Corporate insiders own 1.24% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on FIX shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Glj Research started coverage on shares of Comfort Systems USA in a report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 target price for the company. Oppenheimer started coverage on shares of Comfort Systems USA in a report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price for the company. KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price for the company in a report on Friday, April 24th. Finally, UBS Group lifted their target price on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a "buy" rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Comfort Systems USA presently has an average rating of "Buy" and a consensus target price of $1,969.33.

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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