Navellier & Associates Inc. Sells 2,729 Shares of Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• Navellier & Associates Inc. reduced its stake in Comfort Systems USA by 12.5%, now holding 19,059 shares, making it the 27th largest holding in their portfolio.
• Institutional investors own 96.51% of Comfort Systems USA, with several hedge funds increasing their positions significantly in the first quarter of 2023.
• Comfort Systems USA has recently increased its quarterly dividend from $0.45 to $0.50 per share, with a payout ratio of 10.80%.

Navellier & Associates Inc. cut its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 12.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,059 shares of the construction company's stock after selling 2,729 shares during the quarter. Comfort Systems USA accounts for about 0.9% of Navellier & Associates Inc.'s portfolio, making the stock its 27th largest holding. Navellier & Associates Inc. owned about 0.05% of Comfort Systems USA worth $6,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers grew its holdings in shares of Comfort Systems USA by 90.9% during the 1st quarter. Cetera Investment Advisers now owns 10,780 shares of the construction company's stock valued at $3,475,000 after purchasing an additional 5,133 shares during the last quarter. Journey Strategic Wealth LLC grew its holdings in shares of Comfort Systems USA by 30.9% during the 1st quarter. Journey Strategic Wealth LLC now owns 704 shares of the construction company's stock valued at $227,000 after purchasing an additional 166 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of Comfort Systems USA during the 1st quarter valued at approximately $334,000. Convergence Investment Partners LLC bought a new stake in shares of Comfort Systems USA during the 1st quarter valued at approximately $965,000. Finally, Mount Lucas Management LP grew its holdings in shares of Comfort Systems USA by 86.9% during the 1st quarter. Mount Lucas Management LP now owns 2,660 shares of the construction company's stock valued at $857,000 after purchasing an additional 1,237 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Comfort Systems USA

In other news, CFO William George III sold 12,500 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $470.11, for a total transaction of $5,876,375.00. Following the sale, the chief financial officer owned 47,473 shares in the company, valued at approximately $22,317,532.03. The trade was a 20.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Pablo G. Mercado sold 1,800 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $436.10, for a total transaction of $784,980.00. Following the sale, the director owned 7,236 shares in the company, valued at approximately $3,155,619.60. This trade represents a 19.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,800 shares of company stock worth $18,696,795. 1.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FIX has been the topic of a number of research reports. Wall Street Zen lowered shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Stifel Nicolaus upped their price objective on shares of Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group upped their price objective on shares of Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research note on Friday. Finally, DA Davidson upped their price objective on shares of Comfort Systems USA from $465.00 to $630.00 and gave the company a "buy" rating in a research note on Monday, June 30th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Comfort Systems USA has an average rating of "Moderate Buy" and an average price target of $599.60.

Comfort Systems USA Price Performance

FIX traded up $126.61 on Friday, reaching $689.44. The company had a trading volume of 1,254,076 shares, compared to its average volume of 314,589. The business has a 50 day simple moving average of $514.64 and a 200 day simple moving average of $435.87. The company has a market cap of $24.32 billion, a price-to-earnings ratio of 35.43 and a beta of 1.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.08. Comfort Systems USA, Inc. has a 52-week low of $272.92 and a 52-week high of $699.39.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, topping 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 40.97%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the firm posted $3.74 earnings per share. The business's revenue was up 20.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.50 per share. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Thursday, August 14th. Comfort Systems USA's payout ratio is presently 10.80%.

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.