Comerica Bank Has $130.71 Million Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• Comerica Bank raised its stake in Comfort Systems USA to 158,406 shares (a 4.7% increase), valued at about $130.71 million, while institutional investors own roughly 96.51% of the company.
• Insiders have been net sellers recently—selling a combined 37,288 shares worth approximately $53.68 million over the past three months (including transactions by William Sandbrook and Brian E. Lane), leaving insiders with about 1.59% ownership.
• Comfort Systems reported a strong quarter with $9.37 EPS vs. $6.75 expected and revenue of $2.65B (up 41.7% YoY), and the company raised its quarterly dividend from $0.60 to $0.70.

Comerica Bank raised its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 158,406 shares of the construction company's stock after buying an additional 7,127 shares during the quarter. Comerica Bank owned about 0.45% of Comfort Systems USA worth $130,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Comfort Systems USA during the second quarter worth $256,998,000. AQR Capital Management LLC boosted its stake in Comfort Systems USA by 47.5% in the 2nd quarter. AQR Capital Management LLC now owns 782,435 shares of the construction company's stock worth $419,049,000 after purchasing an additional 252,007 shares during the period. Artisan Partners Limited Partnership acquired a new position in Comfort Systems USA in the 2nd quarter worth $114,551,000. JPMorgan Chase & Co. increased its holdings in Comfort Systems USA by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company's stock worth $606,117,000 after purchasing an additional 197,613 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new position in Comfort Systems USA during the 3rd quarter worth about $156,183,000. Institutional investors and hedge funds own 96.51% of the company's stock.

Insider Activity

In related news, Director William J. Sandbrook sold 2,500 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $1,443.32, for a total value of $3,608,300.00. Following the completion of the transaction, the director directly owned 9,166 shares of the company's stock, valued at approximately $13,229,471.12. This trade represents a 21.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian E. Lane sold 9,365 shares of the business's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $1,453.12, for a total transaction of $13,608,468.80. Following the transaction, the insider owned 171,523 shares in the company, valued at approximately $249,243,501.76. The trade was a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 37,288 shares of company stock worth $53,677,038. Corporate insiders own 1.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FIX shares. Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a report on Wednesday, January 21st. Wall Street Zen lowered Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 3rd. Stifel Nicolaus set a $1,611.00 target price on Comfort Systems USA in a research note on Monday, February 23rd. Finally, UBS Group reaffirmed a "buy" rating and set a $1,310.00 price target on shares of Comfort Systems USA in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $1,573.67.

Comfort Systems USA Trading Down 0.5%

Comfort Systems USA stock opened at $1,366.39 on Friday. The firm has a 50-day moving average of $1,241.96 and a 200-day moving average of $1,004.55. Comfort Systems USA, Inc. has a one year low of $276.44 and a one year high of $1,500.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.21 and a quick ratio of 1.19. The company has a market cap of $48.06 billion, a price-to-earnings ratio of 47.28 and a beta of 1.63.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The construction company reported $9.37 earnings per share for the quarter, beating the consensus estimate of $6.75 by $2.62. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.34 billion. During the same quarter last year, the company earned $4.09 EPS. Comfort Systems USA's revenue for the quarter was up 41.7% compared to the same quarter last year. On average, equities analysts expect that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Friday, March 6th will be given a dividend of $0.70 per share. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.80 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's payout ratio is presently 9.69%.

About Comfort Systems USA

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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