Comfort Systems USA, Inc. $FIX Stock Position Reduced by Peterson Wealth Services

Key Points

• Peterson Wealth Services sharply cut its Comfort Systems USA stake by 72.7% in the fourth quarter, leaving it with 16,447 shares worth about $15.35 million.
• Comfort Systems USA reported strong quarterly results, posting EPS of $10.51 versus expectations of $6.81 and revenue of $2.87 billion, up 56.5% year over year.
• The company raised its dividend to $0.80 per share quarterly from $0.70, while analysts remain broadly positive with a consensus rating of Buy and a target price near $1,991.50.

Peterson Wealth Services lessened its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 72.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,447 shares of the construction company's stock after selling 43,884 shares during the quarter. Comfort Systems USA makes up about 3.9% of Peterson Wealth Services' holdings, making the stock its 6th largest position. Peterson Wealth Services' holdings in Comfort Systems USA were worth $15,350,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FIX. Investment Research Partners LLC boosted its stake in Comfort Systems USA by 34.1% in the fourth quarter. Investment Research Partners LLC now owns 275 shares of the construction company's stock valued at $257,000 after acquiring an additional 70 shares in the last quarter. Caerus Investment Advisors LLC boosted its stake in shares of Comfort Systems USA by 65.7% during the fourth quarter. Caerus Investment Advisors LLC now owns 1,539 shares of the construction company's stock worth $1,436,000 after buying an additional 610 shares during the period. Qtron Investments LLC boosted its stake in shares of Comfort Systems USA by 24.2% during the fourth quarter. Qtron Investments LLC now owns 308 shares of the construction company's stock worth $287,000 after buying an additional 60 shares during the period. Nuveen LLC raised its holdings in Comfort Systems USA by 14.3% during the fourth quarter. Nuveen LLC now owns 176,986 shares of the construction company's stock worth $165,179,000 after purchasing an additional 22,146 shares in the last quarter. Finally, Xponance LLC raised its holdings in Comfort Systems USA by 16.3% during the fourth quarter. Xponance LLC now owns 8,598 shares of the construction company's stock worth $8,024,000 after purchasing an additional 1,203 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Up 7.3%

Shares of Comfort Systems USA stock opened at $1,844.63 on Friday. Comfort Systems USA, Inc. has a 12-month low of $489.54 and a 12-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 stock has a market cap of $64.93 billion, a PE ratio of 53.22 and a beta of 1.65. The company has a 50-day moving average of $1,772.45 and a two-hundred day moving average of $1,382.95.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.39 billion. During the same period last year, the company posted $4.75 earnings per share. The firm's quarterly revenue was up 56.5% compared to the same quarter last year. On average, research analysts anticipate that Comfort Systems USA, Inc. will post 43.39 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Insider Buying and Selling

In other Comfort Systems USA news, insider Brian E. Lane sold 11,113 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the completion of the transaction, the insider directly owned 161,089 shares of the company's stock, valued at approximately $317,319,555.76. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Franklin Myers sold 4,500 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $1,902.57, for a total transaction of $8,561,565.00. Following the transaction, the director directly owned 68,983 shares of the company's stock, valued at approximately $131,244,986.31. This trade represents a 6.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,078 shares of company stock valued at $46,651,175 in the last 90 days. 1.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FIX. Erste Group Bank began coverage on shares of Comfort Systems USA in a report on Friday, June 5th. They set a "buy" rating for the company. KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target for the company in a report on Friday, April 24th. DA Davidson increased their price target on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. UBS Group increased their price target on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a report on Monday. Finally, Stifel Nicolaus increased their price target on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued 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 target price of $1,991.50.

Comfort Systems USA Company 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.

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