Norden Group LLC Sells 1,571 Shares of Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• Norden Group LLC reduced its stake in Comfort Systems USA by 39.0% to 2,460 shares, valued at approximately $793,000, according to recent SEC filings.
• Comfort Systems USA reported a $6.53 earnings per share for the last quarter, exceeding estimates by $1.69, with a revenue increase of 20.1% year-over-year.
• The company announced a quarterly dividend increase to $0.50 per share, representing an annualized payout of $2.00, effective for investors of record on August 14th.

Norden Group LLC decreased its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,460 shares of the construction company's stock after selling 1,571 shares during the quarter. Norden Group LLC's holdings in Comfort Systems USA were worth $793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FIX. Tradewinds Capital Management LLC grew its stake in shares of Comfort Systems USA by 49.1% during the 1st quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock worth $26,000 after purchasing an additional 27 shares during the period. Versant Capital Management Inc raised its position in shares of Comfort Systems USA by 257.1% in the first quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock valued at $32,000 after buying an additional 72 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Comfort Systems USA by 54.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company's stock valued at $34,000 after buying an additional 37 shares during the last quarter. Colonial Trust Co SC raised its position in shares of Comfort Systems USA by 352.6% in the fourth quarter. Colonial Trust Co SC now owns 86 shares of the construction company's stock valued at $36,000 after buying an additional 67 shares during the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of Comfort Systems USA by 106.9% during the 1st quarter. Rothschild Investment LLC now owns 120 shares of the construction company's stock worth $39,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Wall Street Analysts Forecast Growth

FIX has been the topic of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. DA Davidson increased their price objective on shares of Comfort Systems USA from $630.00 to $810.00 and gave the company a "buy" rating in a research report on Monday. Northcoast Research downgraded shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday. Finally, UBS Group increased 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 report on Friday, July 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $635.60.

Comfort Systems USA Stock Down 2.0%

NYSE:FIX traded down $14.26 on Friday, hitting $689.04. 276,292 shares of the company's stock traded hands, compared to its average volume of 477,482. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. Comfort Systems USA, Inc. has a 1 year low of $272.92 and a 1 year high of $718.40. The firm has a 50-day moving average price of $532.98 and a 200-day moving average price of $442.84. The company has a market cap of $24.31 billion, a PE ratio of 35.30 and a beta of 1.51.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $4.84 by $1.69. The company had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.97 billion. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%. The business's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.74 EPS. Equities analysts anticipate that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, August 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio is presently 9.25%.

Insider Buying and Selling at Comfort Systems USA

In related news, Director Darcy Anderson sold 8,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $506.82, for a total value of $4,054,560.00. Following the completion of the sale, the director directly owned 26,535 shares in the company, valued at approximately $13,448,468.70. The trade was a 23.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pablo G. Mercado sold 1,800 shares of Comfort Systems USA stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $436.10, for a total value of $784,980.00. Following the completion of the transaction, the director directly owned 7,236 shares in the company, valued at approximately $3,155,619.60. This represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,700 shares of company stock worth $21,638,967 over the last quarter. Insiders own 1.59% of the company's stock.

About Comfort Systems USA

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.