Comfort Systems USA, Inc. $FIX Shares Sold by Laurus Global Equity Management Inc.

Key Points

• Laurus Global Equity Management Inc. reduced its holding in Comfort Systems USA by 35.1% in Q2, now owning 2,440 shares worth approximately $1.3 million.
• Comfort Systems USA recently announced a quarterly dividend increase from $0.45 to $0.50, representing a 0.2% dividend yield.
• Despite the changes in investor positions, analysts maintain a consensus rating of "Moderate Buy" with an average price target of $668.60.

Laurus Global Equity Management Inc. cut its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 35.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,440 shares of the construction company's stock after selling 1,320 shares during the quarter. Comfort Systems USA accounts for 0.9% of Laurus Global Equity Management Inc.'s investment portfolio, making the stock its 25th biggest holding. Laurus Global Equity Management Inc.'s holdings in Comfort Systems USA were worth $1,308,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FIX. Jones Financial Companies Lllp boosted its position in shares of Comfort Systems USA by 2,872,410.3% in the 1st quarter. Jones Financial Companies Lllp now owns 833,028 shares of the construction company's stock worth $268,510,000 after buying an additional 832,999 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Comfort Systems USA by 106.4% in the first quarter. AQR Capital Management LLC now owns 530,428 shares of the construction company's stock valued at $165,228,000 after purchasing an additional 273,453 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Comfort Systems USA by 299.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 319,813 shares of the construction company's stock valued at $103,085,000 after purchasing an additional 239,692 shares during the last quarter. Nuveen LLC purchased a new position in shares of Comfort Systems USA during the 1st quarter worth approximately $74,634,000. Finally, Millennium Management LLC raised its position in shares of Comfort Systems USA by 91.0% during the 1st quarter. Millennium Management LLC now owns 317,852 shares of the construction company's stock worth $102,453,000 after purchasing an additional 151,447 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Saturday, September 27th. Stifel Nicolaus boosted their target price on shares of Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. William Blair started coverage on shares of Comfort Systems USA in a report on Thursday, September 11th. They set an "outperform" rating for the company. Finally, Zacks Research lowered shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $668.60.

Insider Activity

In other Comfort Systems USA news, CFO William George III sold 8,436 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $692.60, for a total value of $5,842,773.60. Following the completion of the sale, the chief financial officer owned 47,473 shares of the company's stock, valued at $32,879,799.80. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie Shaeff sold 1,369 shares of Comfort Systems USA stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $704.50, for a total transaction of $964,460.50. Following the sale, the chief accounting officer owned 16,023 shares in the company, valued at $11,288,203.50. This represents a 7.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,783 shares of company stock valued at $18,710,798 over the last quarter. 1.59% of the stock is owned by insiders.

Comfort Systems USA Stock Down 2.0%

FIX opened at $816.51 on Monday. Comfort Systems USA, Inc. has a 12 month low of $276.44 and a 12 month high of $852.31. The business has a 50-day moving average of $733.91 and a two-hundred day moving average of $549.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. The stock has a market capitalization of $28.81 billion, a price-to-earnings ratio of 41.96 and a beta of 1.58.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The business had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the company earned $3.74 earnings per share. The company's quarterly revenue was up 20.1% on a year-over-year basis. On average, research analysts expect that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Thursday, August 14th were given a $0.50 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio is 10.28%.

Comfort Systems USA Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.

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