Comfort Systems USA, Inc. $FIX Shares Bought by Whittier Trust Co. of Nevada Inc.

Key Points

• Whittier Trust Co. of Nevada Inc. dramatically increased its stake in Comfort Systems USA, boosting holdings by 42,980% in the first quarter to 4,308 shares valued at about $6.18 million.
• Insider selling picked up recently, with executives including Brian E. Lane and director Franklin Myers selling shares; insiders sold 30,778 shares worth about $59.7 million over the last 90 days.
• Comfort Systems USA reported strong results and raised its dividend, posting Q1 EPS of $10.51 on revenue of $2.87 billion, both above estimates, while increasing its quarterly dividend to $0.80 from $0.70.

Whittier Trust Co. of Nevada Inc. boosted its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 42,980.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,308 shares of the construction company's stock after acquiring an additional 4,298 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Comfort Systems USA were worth $6,178,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Comfort Systems USA by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after purchasing an additional 625,567 shares in the last quarter. State Street Corp lifted its holdings in Comfort Systems USA by 35.6% during the 4th quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock worth $1,333,367,000 after buying an additional 375,118 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $1,103,453,000 after buying an additional 332,441 shares during the last quarter. Invesco Ltd. boosted its position in shares of Comfort Systems USA by 7.4% during the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock worth $878,454,000 after acquiring an additional 73,727 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Comfort Systems USA by 22.1% during the 4th quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company's stock worth $951,883,000 after acquiring an additional 184,362 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Comfort Systems USA

In other news, insider Brian E. Lane sold 11,113 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the transaction, the insider directly owned 161,089 shares in the company, valued at $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Franklin Myers sold 6,700 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the transaction, the director directly owned 62,115 shares of the company's stock, valued at $121,401,904.05. This represents a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,778 shares of company stock worth $59,746,124 in the last 90 days. Corporate insiders own 1.24% of the company's stock.

Analysts Set New Price Targets

FIX has been the subject of several recent analyst reports. KeyCorp upgraded 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 research note on Friday, April 24th. Stifel Nicolaus increased their price target on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Glj Research began coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective for the company. Erste Group Bank started coverage on shares of Comfort Systems USA in a report on Friday, June 5th. They issued a "buy" rating for the company. Finally, Zacks Research downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 26th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,991.50.

Comfort Systems USA Stock Performance

NYSE:FIX traded down $158.04 during trading hours on Tuesday, reaching $1,634.99. 163,347 shares of the company's stock were exchanged, compared to its average volume of 442,952. Comfort Systems USA, Inc. has a 1-year low of $513.99 and a 1-year high of $2,073.99. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $57.55 billion, a price-to-earnings ratio of 47.14 and a beta of 1.66. The company has a 50-day moving average of $1,884.97 and a 200 day moving average of $1,494.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (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 for the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter in the previous year, the firm posted $4.75 EPS. The firm's revenue for the quarter was up 56.5% on a year-over-year basis. Research analysts anticipate that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

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

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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