Comerica Bank Sells 153,751 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Comerica Bank cut its stake in Comfort Systems USA by 97.1%, selling 153,751 shares in the quarter and leaving it with 4,655 shares worth $4.345 million.
• Blowout quarterly results: Comfort Systems reported $10.51 EPS vs. $6.81 expected and revenue of $2.87 billion (up 56.5% year-over-year), prompting stronger analyst sentiment.
• Dividend and valuation: the company raised its quarterly dividend to $0.80 ($3.20 annually, 0.2% yield), while the stock trades near a one-year high (~$1,870) with a market cap of about $65.9 billion and a PE of ~54.

Comerica Bank decreased its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 97.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,655 shares of the construction company's stock after selling 153,751 shares during the period. Comerica Bank's holdings in Comfort Systems USA were worth $4,345,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. D.A. Davidson & CO. increased its holdings in shares of Comfort Systems USA by 10.4% during the fourth quarter. D.A. Davidson & CO. now owns 275 shares of the construction company's stock worth $257,000 after purchasing an additional 26 shares during the period. Pictet Asset Management Holding SA grew its position in Comfort Systems USA by 401.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 24,708 shares of the construction company's stock worth $23,061,000 after buying an additional 19,785 shares in the last quarter. State of Michigan Retirement System grew its position in Comfort Systems USA by 19.0% during the fourth quarter. State of Michigan Retirement System now owns 10,000 shares of the construction company's stock worth $9,333,000 after buying an additional 1,600 shares in the last quarter. Inscription Capital LLC increased its position in shares of Comfort Systems USA by 6.1% in the fourth quarter. Inscription Capital LLC now owns 593 shares of the construction company's stock worth $554,000 after purchasing an additional 34 shares during the period. Finally, Huntleigh Advisors Inc. raised its stake in Comfort Systems USA by 11.6% in the fourth quarter. Huntleigh Advisors Inc. now owns 6,795 shares of the construction company's stock valued at $6,342,000 after purchasing an additional 709 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Price Performance

FIX stock opened at $1,870.95 on Friday. The company's 50-day moving average is $1,497.63 and its 200-day moving average is $1,188.75. Comfort Systems USA, Inc. has a 1 year low of $420.88 and a 1 year high of $1,877.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a market capitalization of $65.86 billion, a PE ratio of 53.98 and a beta of 1.70.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 EPS 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 firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the company posted $4.75 earnings per share. The company's quarterly revenue was up 56.5% on a year-over-year basis. Equities research analysts expect that Comfort Systems USA, Inc. will post 43.42 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 15th will be issued a $0.80 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio (DPR) is currently 8.08%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. 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 research note on Friday, April 24th. Stifel Nicolaus upped their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Wall Street Zen raised Comfort Systems USA from a "buy" rating to a "strong-buy" rating in a research note on Saturday. DA Davidson raised their target price on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Finally, Glj Research initiated coverage on Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,923.20.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, Director Darcy Anderson sold 4,500 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $1,369.74, for a total transaction of $6,163,830.00. Following the transaction, the director directly owned 18,035 shares in the company, valued at approximately $24,703,260.90. This trade represents a 19.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pablo G. Mercado sold 500 shares of the company's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $1,779.78, for a total transaction of $889,890.00. Following the completion of the sale, the director directly owned 3,000 shares of the company's stock, valued at $5,339,340. The trade was a 14.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,288 shares of company stock valued at $57,165,933 in the last three months. Insiders own 1.24% of the company's stock.

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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