Corient Private Wealth LLC Has $2.60 Million Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• Corient Private Wealth LLC increased its stake in Comfort Systems USA by 48% in the fourth quarter, ending with 2,782 shares valued at about $2.6 million.
• Institutional interest in the stock remains very high, with 96.51% of Comfort Systems USA shares owned by institutions and hedge funds; several firms also added to or initiated positions during the quarter.
• Insider selling has been notable, including director Franklin Myers selling 6,700 shares and CFO William George III selling 1,000 shares, even as analysts largely maintain a Buy outlook and the company posted strong quarterly earnings above expectations.

Corient Private Wealth LLC grew its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 48.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,782 shares of the construction company's stock after buying an additional 902 shares during the quarter. Corient Private Wealth LLC's holdings in Comfort Systems USA were worth $2,596,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Prudential PLC acquired a new stake in Comfort Systems USA during the 4th quarter worth approximately $6,922,000. Ethic Inc. grew its holdings in Comfort Systems USA by 80.5% during the 4th quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock worth $1,565,000 after acquiring an additional 748 shares during the last quarter. BNP Paribas Financial Markets increased its position in Comfort Systems USA by 230.4% in the 4th quarter. BNP Paribas Financial Markets now owns 57,199 shares of the construction company's stock valued at $53,383,000 after acquiring an additional 39,888 shares during the period. Spire Wealth Management raised its stake in shares of Comfort Systems USA by 658.1% during the fourth quarter. Spire Wealth Management now owns 5,390 shares of the construction company's stock valued at $5,031,000 after acquiring an additional 4,679 shares during the last quarter. Finally, Moran Wealth Management LLC raised its stake in shares of Comfort Systems USA by 34.0% during the fourth quarter. Moran Wealth Management LLC now owns 28,357 shares of the construction company's stock valued at $26,465,000 after acquiring an additional 7,192 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Comfort Systems USA

In related news, Director Franklin Myers sold 6,700 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the transaction, the director owned 62,115 shares in the company, valued at $121,401,904.05. The trade was a 9.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William George III sold 1,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the transaction, the chief financial officer directly owned 32,804 shares in the company, valued at approximately $66,295,571.84. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,778 shares of company stock worth $59,746,124. Corporate insiders own 1.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FIX shares. Wall Street Zen cut shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Oppenheimer assumed coverage on Comfort Systems USA in a research report on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price target on the stock. Erste Group Bank assumed coverage on Comfort Systems USA in a research note on Friday, June 5th. They issued a "buy" rating for the company. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Finally, KeyCorp raised Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective on the stock in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $1,991.50.

Comfort Systems USA Stock Performance

FIX stock opened at $1,857.84 on Monday. The stock has a 50-day moving average price of $1,865.99 and a 200-day moving average price of $1,458.73. Comfort Systems USA, Inc. has a 1-year low of $510.00 and a 1-year high of $2,073.99. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. The firm has a market cap of $65.40 billion, a PE ratio of 53.60 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, beating the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the company earned $4.75 EPS. The firm's revenue for the quarter was up 56.5% compared to the same quarter last year. As a group, equities research analysts expect that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, May 15th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.23%.

About Comfort Systems USA

Comfort Systems USA, Inc is a U.S.-based mechanical contracting company that provides a range of heating, ventilation and air conditioning (HVAC) services to commercial, industrial and institutional customers. The company focuses on the design, installation, maintenance and repair of HVAC systems, and it supports projects from initial engineering and system selection through long-term service agreements and upgrades.

Its service offerings include new construction and retrofit installations, preventive and corrective maintenance, emergency repair, energy management and building automation systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.