Comfort Systems USA, Inc. $FIX Stock Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners LLC cut its Comfort Systems USA stake by 99.4% in the third quarter, selling 193,567 shares and retaining 1,197 shares worth approximately $1.98 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 beating estimates by $2.08 and revenue rising 50.3% year over year to $3.27 billion. The company also increased its quarterly dividend to $0.90 per share.
• Despite the stock trading at $1,449.40—below its 50-day and 200-day moving averages—analysts maintained a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $2,085. Recent insider sales totaled 26,078 shares valued at $43.2 million.

Curated Wealth Partners LLC lowered its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 99.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,197 shares of the construction company's stock after selling 193,567 shares during the period. Curated Wealth Partners LLC's holdings in Comfort Systems USA were worth $1,980,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in Comfort Systems USA during the 2nd quarter worth approximately $26,000. Glynn Capital Management LLC lifted its position in Comfort Systems USA by 58.3% in the 3rd quarter. Glynn Capital Management LLC now owns 19 shares of the construction company's stock worth $31,000 after buying an additional 7 shares in the last quarter. Avalon Trust Co acquired a new stake in Comfort Systems USA during the second quarter valued at $32,000. Field & Main Bank acquired a new stake in Comfort Systems USA during the second quarter valued at $32,000. Finally, Nvwm LLC purchased a new stake in shares of Comfort Systems USA during the 3rd quarter worth about $35,000. 96.51% of the stock is owned by institutional investors.

Comfort Systems USA Price Performance

Shares of FIX traded down $92.28 during mid-day trading on Thursday, reaching $1,449.40. The company had a trading volume of 427,963 shares, compared to its average volume of 430,634. The company's 50-day moving average is $1,652.73 and its 200-day moving average is $1,730.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. The company has a market capitalization of $51.00 billion, a P/E ratio of 35.70 and a beta of 1.66. Comfort Systems USA, Inc. has a twelve month low of $770.47 and a twelve month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.45 by $2.08. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The firm's quarterly revenue was up 50.3% on a year-over-year basis. During the same period last year, the firm posted $6.53 EPS. On average, equities analysts anticipate that Comfort Systems USA, Inc. will post 48.15 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $3.60 annualized dividend and a yield of 0.2%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.80. Comfort Systems USA's dividend payout ratio (DPR) is currently 8.85%.

Analyst Upgrades and Downgrades

Several research firms have commented on FIX. UBS Group reissued a "buy" rating on shares of Comfort Systems USA in a research report on Tuesday, September 15th. The Goldman Sachs Group assumed coverage on Comfort Systems USA in a report on Thursday, July 9th. They set a "buy" rating and a $2,159.00 price target on the stock. DA Davidson assumed coverage on shares of Comfort Systems USA in a report on Friday, August 21st. They set a "buy" rating and a $2,100.00 price objective for the company. KeyCorp boosted their target price on shares of Comfort Systems USA from $2,110.00 to $2,125.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Zacks Research cut Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $2,085.00.

Insider Activity

In other news, insider Brian E. Lane sold 16,024 shares of the firm's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the transaction, the insider directly owned 145,065 shares in the company, valued at $233,294,983.65. This trade represents a 9.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Franklin Myers sold 4,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the completion of the sale, the director owned 8,495 shares of the company's stock, valued at $14,389,850.40. This represents a 32.01% decrease in their position. 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 90 days. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc NYSE: FIX provides mechanical, electrical, and other contracting services for commercial, industrial, and institutional customers. Its work supports the construction, renovation, and ongoing operation of facilities such as office buildings, hospitals, schools, data centers, manufacturing plants, and other complex infrastructure.

The company's services include heating, ventilation, and air conditioning; plumbing and piping; electrical contracting; building automation and controls; and related specialty services.

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