Lord Abbett & CO. LLC Lowers Position in Comfort Systems USA, Inc. $FIX

Key Points

• Lord Abbett & Co. LLC reduced its stake in Comfort Systems USA by 41.3%, now holding approximately 0.27% of the company, valued at $30.4 million.
• The company reported $6.53 EPS for the last quarter, exceeding expectations, with a significant 20.1% year-over-year revenue increase.
• Comfort Systems USA announced an increase in its quarterly dividend from $0.45 to $0.50 per share, reflecting a 9.25% dividend payout ratio.

Lord Abbett & CO. LLC lowered its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 41.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,363 shares of the construction company's stock after selling 66,258 shares during the period. Lord Abbett & CO. LLC owned 0.27% of Comfort Systems USA worth $30,416,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of Comfort Systems USA by 94.3% during the fourth quarter. Barclays PLC now owns 44,402 shares of the construction company's stock worth $18,830,000 after purchasing an additional 21,554 shares during the period. Mariner LLC lifted its holdings in shares of Comfort Systems USA by 22.4% during the fourth quarter. Mariner LLC now owns 15,268 shares of the construction company's stock worth $6,475,000 after purchasing an additional 2,790 shares during the period. Jump Financial LLC lifted its holdings in shares of Comfort Systems USA by 504.4% during the fourth quarter. Jump Financial LLC now owns 9,513 shares of the construction company's stock worth $4,034,000 after purchasing an additional 7,939 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of Comfort Systems USA by 2.9% during the fourth quarter. Evergreen Capital Management LLC now owns 2,129 shares of the construction company's stock worth $903,000 after purchasing an additional 61 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Comfort Systems USA by 9.2% during the fourth quarter. NewEdge Advisors LLC now owns 2,419 shares of the construction company's stock worth $1,025,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, CFO William George III sold 8,436 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $692.60, for a total transaction of $5,842,773.60. Following the completion of the sale, the chief financial officer directly owned 47,473 shares in the company, valued at approximately $32,879,799.80. This trade represents a 15.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO T Mckenna Trent sold 4,400 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $716.63, for a total transaction of $3,153,172.00. Following the sale, the chief operating officer directly owned 21,639 shares in the company, valued at approximately $15,507,156.57. The trade was a 16.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,205 shares of company stock worth $20,932,366 in the last 90 days. Insiders own 1.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FIX shares. Northcoast Research downgraded shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Stifel Nicolaus lifted their price objective on shares of Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a report on Friday, July 11th. DA Davidson lifted their price objective on shares of Comfort Systems USA from $630.00 to $810.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, 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. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $635.60.

Comfort Systems USA Price Performance

Comfort Systems USA stock traded down $11.4240 during midday trading on Tuesday, reaching $684.3360. 228,477 shares of the stock were exchanged, compared to its average volume of 470,455. The company's fifty day moving average is $582.82 and its 200-day moving average is $460.06. The firm has a market cap of $24.14 billion, a PE ratio of 35.18 and a beta of 1.49. Comfort Systems USA, Inc. has a 52 week low of $276.44 and a 52 week high of $733.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13.

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

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Thursday, August 14th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, August 14th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio (DPR) 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.