Comfort Systems USA, Inc. $FIX Stock Sold by Compass Financial Management LLC

Key Points

• Compass Financial Management cut its Comfort Systems USA stake by 95.4% in the third quarter, selling 1,078 shares and retaining 52 shares valued at about $86,000.
• Comfort Systems reported quarterly EPS of $13.91, beating the $12.85 consensus, while revenue rose 53.7% year over year to $3.77 billion. Analysts’ consensus rating was Buy, with an average price target of $1,916.14.
• The company reduced its quarterly dividend to $0.10 per share from $0.90, a substantial cut.

Compass Financial Management LLC cut its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 95.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52 shares of the construction company's stock after selling 1,078 shares during the quarter. Compass Financial Management LLC's holdings in Comfort Systems USA were worth $86,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Provenance Wealth Advisors LLC increased its stake in shares of Comfort Systems USA by 2,455.6% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 230 shares of the construction company's stock valued at $380,000 after buying an additional 221 shares during the period. Lyell Wealth Management LP acquired a new stake in Comfort Systems USA in the third quarter worth about $6,492,000. Integrity Alliance LLC. raised its holdings in Comfort Systems USA by 54.1% during the 3rd quarter. Integrity Alliance LLC. now owns 353 shares of the construction company's stock worth $584,000 after purchasing an additional 124 shares during the last quarter. Gallacher Capital Management LLC raised its holdings in Comfort Systems USA by 19.9% during the 3rd quarter. Gallacher Capital Management LLC now owns 223 shares of the construction company's stock worth $368,000 after purchasing an additional 37 shares during the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super raised its holdings in Comfort Systems USA by 16.2% during the 3rd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 26,416 shares of the construction company's stock worth $43,694,000 after purchasing an additional 3,692 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FIX. Oppenheimer reduced their target price on shares of Comfort Systems USA from $2,400.00 to $2,000.00 and set an "outperform" rating on the stock in a research note on Monday, October 26th. DA Davidson set a $1,850.00 target price on shares of Comfort Systems USA in a report on Monday, October 26th. Erste Group Bank lowered Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Stifel Nicolaus set a $1,808.00 target price on shares of Comfort Systems USA in a research note on Monday, October 26th. Finally, UBS Group decreased their price target on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a "buy" rating for the company in a research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $1,916.14.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 4,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the transaction, the director owned 8,495 shares of the company's stock, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William George, III sold 2,554 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the transaction, the chief financial officer owned 30,250 shares of the company's stock, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,078 shares of company stock valued at $43,211,828 over the last three months. 1.24% of the stock is owned by insiders.

Comfort Systems USA Stock Up 5.2%

FIX opened at $1,014.97 on Friday. The stock has a fifty day moving average of $1,510.83 and a 200-day moving average of $1,597.49. Comfort Systems USA, Inc. has a fifty-two week low of $841.66 and a fifty-two week high of $2,073.99. The company has a market capitalization of $35.51 billion, a P/E ratio of 21.91 and a beta of 1.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.13 and a current ratio of 1.15.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The construction company reported $13.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.85 by $1.06. The business had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.40 billion. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. The firm's revenue for the quarter was up 53.7% compared to the same quarter last year. During the same period in the previous year, the company posted $8.25 earnings per share. On average, equities analysts expect that Comfort Systems USA, Inc. will post 50.32 EPS for the current year.

Comfort Systems USA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, November 12th. This is a negative change from Comfort Systems USA's previous quarterly dividend of $0.90. This represents a $0.40 dividend on an annualized basis and a yield of 0.0%. Comfort Systems USA's dividend payout ratio is currently 7.77%.

About Comfort Systems USA

Comfort Systems USA, Inc is a provider of heating, ventilation and air conditioning (HVAC) and other mechanical services for commercial, industrial and institutional customers. Founded in 1997 and headquartered in Houston, Texas, the company serves customers across the United States through its operating businesses.

Its services include designing and installing HVAC and related mechanical systems for new construction and building renovations, as well as maintaining, repairing and replacing existing equipment.

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