Comfort Systems USA, Inc. $FIX Position Cut by Argent Capital Management LLC

Key Points

• Argent Capital Management cut its Comfort Systems USA stake by 16.5% in the third quarter, selling 635 shares and retaining 3,205 shares valued at approximately $5.3 million. Institutional investors still own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with revenue up 50.3% year over year to $3.27 billion and earnings per share of $12.53, exceeding analysts’ estimate of $10.45.
• The company raised its quarterly dividend from $0.80 to $0.90 per share. Meanwhile, insiders sold 26,078 shares worth $43.2 million over the past three months, and analysts maintain a consensus “Buy” rating with a $2,082.86 price target.

Argent Capital Management LLC trimmed its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 16.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,205 shares of the construction company's stock after selling 635 shares during the period. Argent Capital Management LLC's holdings in Comfort Systems USA were worth $5,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prudential PLC purchased a new stake in Comfort Systems USA in the 4th quarter worth about $6,922,000. Simplicity Wealth LLC purchased a new position in shares of Comfort Systems USA during the second quarter valued at approximately $601,000. New York State Teachers Retirement System boosted its position in shares of Comfort Systems USA by 2.7% during the first quarter. New York State Teachers Retirement System now owns 30,665 shares of the construction company's stock valued at $42,287,000 after buying an additional 800 shares during the period. ING Groep NV bought a new position in shares of Comfort Systems USA during the fourth quarter valued at approximately $4,245,000. Finally, Storgate LLC purchased a new stake in shares of Comfort Systems USA in the fourth quarter worth approximately $644,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insider Transactions at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the transaction, the director directly owned 8,495 shares of the company's stock, valued at approximately $14,389,850.40. This trade represents a 32.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian E. Lane sold 16,024 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the completion of the sale, the insider owned 145,065 shares in the company, valued at $233,294,983.65. The trade was a 9.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,078 shares of company stock worth $43,211,828 over the last three months. 1.24% of the stock is currently owned by insiders.

Comfort Systems USA Stock Down 0.6%

Shares of NYSE:FIX traded down $11.11 during trading on Monday, reaching $1,716.90. The stock had a trading volume of 89,583 shares, compared to its average volume of 432,192. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. Comfort Systems USA, Inc. has a one year low of $770.47 and a one year high of $2,073.99. The company has a market capitalization of $60.42 billion, a P/E ratio of 42.24 and a beta of 1.66. The firm's 50-day simple moving average is $1,654.28 and its 200 day simple moving average is $1,714.92.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating analysts' consensus estimates of $10.45 by $2.08. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company earned $6.53 earnings per share. The business's quarterly revenue was up 50.3% compared to the same quarter last year. As a group, research analysts expect that Comfort Systems USA, Inc. will post 48.15 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Thursday, August 13th were paid a $0.90 dividend. The ex-dividend date was Thursday, August 13th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is 8.85%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FIX shares. Stifel Nicolaus set a $1,910.00 price objective on Comfort Systems USA in a report on Monday, July 27th. 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 target price for the company. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. KeyCorp lifted their price objective on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an "overweight" rating in a report on Monday, July 27th. Finally, Weiss Ratings cut shares of Comfort Systems USA from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $2,082.86.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc NYSE: FIX provides mechanical, electrical, and other contracting services for commercial, industrial, and institutional customers. Its work supports the construction, renovation, and ongoing operation of facilities such as office buildings, hospitals, schools, data centers, manufacturing plants, and other complex infrastructure.

The company's services include heating, ventilation, and air conditioning; plumbing and piping; electrical contracting; building automation and controls; and related specialty services.

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