Comfort Systems USA, Inc. $FIX Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB cut its Comfort Systems USA stake by 63.3% in the first quarter, selling 30,740 shares and leaving it with 17,819 shares valued at about $24.6 million.
• Comfort Systems USA posted strong quarterly results, with EPS of $10.51 beating estimates by $3.70 and revenue of $2.87 billion topping expectations; revenue also jumped 56.5% year over year.
• The company 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 price target of $1,991.50.

E. Ohman J or Asset Management AB lowered its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 63.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,819 shares of the construction company's stock after selling 30,740 shares during the quarter. E. Ohman J or Asset Management AB owned 0.05% of Comfort Systems USA worth $24,572,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FIX. Vanguard Group Inc. raised its holdings in Comfort Systems USA by 17.0% in 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 buying an additional 625,567 shares during the period. State Street Corp boosted its stake in Comfort Systems USA by 35.6% during the fourth 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 period. Geode Capital Management LLC boosted its stake in Comfort Systems USA by 39.0% during the fourth 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 period. Invesco Ltd. boosted its stake in Comfort Systems USA by 7.4% during the third quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock worth $878,454,000 after buying an additional 73,727 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Comfort Systems USA by 22.1% during the fourth quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company's stock valued at $951,883,000 after acquiring an additional 184,362 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

NYSE FIX opened at $1,971.17 on Friday. The company has a market cap of $69.39 billion, a P/E ratio of 56.87 and a beta of 1.65. 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 50-day moving average of $1,831.99 and a two-hundred day moving average of $1,420.84. Comfort Systems USA, Inc. has a 1-year low of $489.98 and a 1-year high of $2,073.99.

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, 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 for the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter in the prior year, the company earned $4.75 earnings per share. The business's quarterly revenue was up 56.5% on a year-over-year basis. As a group, analysts anticipate that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

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

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 4,500 shares of the 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 sale, the director directly owned 68,983 shares in the company, valued at $131,244,986.31. This represents a 6.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rhoman J. Hardy sold 342 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the completion of the transaction, the director directly owned 1,890 shares of the company's stock, valued at $3,591,151.20. This represents a 15.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,078 shares of company stock worth $46,651,175 over the last 90 days. 1.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FIX shares. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 25th. Stifel Nicolaus lifted their target price on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Glj Research started coverage on Comfort Systems USA in a research report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 target price on the stock. Finally, KeyCorp upgraded Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target on the stock in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Comfort Systems USA presently has an average rating of "Buy" and a consensus price target of $1,991.50.

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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