Comfort Systems USA, Inc. $FIX Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP reduced its Comfort Systems USA stake by 13.7% in the first quarter, though it still held 415,886 shares worth about $573.5 million. Institutional ownership remains very high at 96.51%.
• Recent insider selling included director Rhoman J. Hardy and CAO Julie Shaeff, with insiders selling 30,778 shares worth about $59.7 million over the last quarter. Insiders currently own about 1.24% of the company.
• Comfort Systems USA reported strong quarterly results, posting EPS of $10.51 versus estimates of $6.81 and revenue of $2.87 billion, up 56.5% year over year. The company also raised its quarterly dividend to $0.80 per share from $0.70.

First Trust Advisors LP trimmed its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 13.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,886 shares of the construction company's stock after selling 66,213 shares during the quarter. First Trust Advisors LP owned about 1.18% of Comfort Systems USA worth $573,502,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FIX. Core Wealth Advisors LLC bought a new position in shares of Comfort Systems USA in the fourth quarter worth $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Comfort Systems USA during the fourth quarter valued at about $33,000. Farmers & Merchants Investments Inc. raised its stake in shares of Comfort Systems USA by 29.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after purchasing an additional 9 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in Comfort Systems USA by 29.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after purchasing an additional 10 shares during the period. Finally, ORG Partners LLC lifted its holdings in Comfort Systems USA by 63.0% in the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company's stock worth $41,000 after purchasing an additional 17 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Comfort Systems USA

In related news, Director Rhoman J. Hardy sold 342 shares of Comfort Systems USA stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,900.08, for a total value of $649,827.36. Following the transaction, the director directly owned 1,890 shares in the company, valued at $3,591,151.20. The trade was a 15.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Julie Shaeff sold 1,123 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the sale, the chief accounting officer directly owned 12,624 shares of the company's stock, valued at approximately $25,252,670.88. This represents a 8.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 30,778 shares of company stock worth $59,746,124. 1.24% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on FIX shares. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research note on Friday. Glj Research started coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target for the company. UBS Group increased their price objective on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a "buy" rating in a report on Monday, June 8th. Zacks Research lowered shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. Finally, The Goldman Sachs Group began coverage on Comfort Systems USA in a report on Thursday, July 9th. They set a "buy" rating and a $2,159.00 target price on the stock. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,015.43.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $1,772.47 on Wednesday. Comfort Systems USA, Inc. has a twelve month low of $513.99 and a twelve month high of $2,073.99. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $62.39 billion, a price-to-earnings ratio of 51.14 and a beta of 1.66. The firm has a 50-day moving average of $1,850.12 and a two-hundred day moving average of $1,555.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business's revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.75 EPS. As a group, analysts expect that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.20 annualized dividend 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 is 9.23%.

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.

Want to see what other hedge funds are holding FIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comfort Systems USA, Inc. (NYSE:FIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.