Comfort Systems USA, Inc. $FIX Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Comfort Systems USA by 2.9%, owning 89,367 shares valued at approximately $28.8 million as of the latest SEC filing.
• Comfort Systems USA reported $6.53 earnings per share for the latest quarter, exceeding analysts' expectations of $4.84 and reflecting a 20.1% year-over-year revenue increase to $2.17 billion.
• The company announced a quarterly dividend increase from $0.45 to $0.50, with a pay date set for August 25th and a dividend yield of 0.3% based on annualized payments.

Raymond James Financial Inc. cut its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,367 shares of the construction company's stock after selling 2,692 shares during the period. Raymond James Financial Inc. owned about 0.25% of Comfort Systems USA worth $28,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC lifted its position in Comfort Systems USA by 49.1% during the first quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock valued at $26,000 after purchasing an additional 27 shares during the period. Colonial Trust Co SC increased its holdings in Comfort Systems USA by 352.6% in the fourth quarter. Colonial Trust Co SC now owns 86 shares of the construction company's stock valued at $36,000 after buying an additional 67 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Comfort Systems USA in the first quarter valued at $31,000. Versant Capital Management Inc increased its holdings in Comfort Systems USA by 257.1% in the first quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock valued at $32,000 after buying an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its holdings in Comfort Systems USA by 131.1% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the construction company's stock valued at $45,000 after buying an additional 59 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a report on Friday, July 25th. Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Finally, DA Davidson raised their price target on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $635.60.

Comfort Systems USA Stock Down 4.8%

Shares of NYSE FIX traded down $35.40 during midday trading on Friday, hitting $694.61. The company's stock had a trading volume of 220,249 shares, compared to its average volume of 465,941. The business's fifty day simple moving average is $615.19 and its two-hundred day simple moving average is $473.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. Comfort Systems USA, Inc. has a 1 year low of $276.44 and a 1 year high of $733.24. The firm has a market capitalization of $24.51 billion, a price-to-earnings ratio of 35.69 and a beta of 1.49.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $3.74 earnings per share. The business's revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities analysts predict that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Thursday, August 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. Comfort Systems USA's dividend payout ratio is currently 10.28%.

Insiders Place Their Bets

In other news, insider Brian E. Lane sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $691.74, for a total transaction of $6,917,400.00. Following the completion of the sale, the insider owned 188,046 shares in the company, valued at $130,078,940.04. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO T Mckenna Trent sold 4,400 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $716.63, for a total value of $3,153,172.00. Following the sale, the chief operating officer owned 21,639 shares of the company's stock, valued at $15,507,156.57. This trade represents a 16.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,283 shares of company stock valued at $21,682,525. 1.59% of the stock is owned by insiders.

Comfort Systems USA Company 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.