CPC Advisors LLC Trims Stake in Comfort Systems USA, Inc. $FIX

Key Points

• CPC Advisors LLC cut its stake in Comfort Systems USA by 53.3% in the first quarter, leaving it with 5,167 shares valued at about $7.13 million.
• Comfort Systems USA reported better-than-expected Q1 results, with earnings of $10.51 per share on revenue of $2.87 billion, both well above analyst estimates. Revenue jumped 56.5% year over year.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain generally bullish with a consensus Buy rating and an average target price of $1,991.50.

CPC Advisors LLC cut its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 53.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,167 shares of the construction company's stock after selling 5,888 shares during the quarter. Comfort Systems USA makes up approximately 1.2% of CPC Advisors LLC's investment portfolio, making the stock its 13th largest position. CPC Advisors LLC's holdings in Comfort Systems USA were worth $7,126,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Ameriflex Group Inc. increased its holdings in shares of Comfort Systems USA by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock valued at $25,000 after purchasing an additional 15 shares in the last quarter. Core Wealth Advisors LLC acquired a new position in shares of Comfort Systems USA in the 4th quarter valued at $28,000. Kemnay Advisory Services Inc. purchased a new stake in Comfort Systems USA during the fourth quarter worth $33,000. Farmers & Merchants Investments Inc. boosted its holdings in Comfort Systems USA by 29.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock worth $37,000 after buying an additional 9 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in Comfort Systems USA by 29.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Up 0.2%

Shares of NYSE:FIX opened at $1,971.17 on Monday. The business's 50 day moving average price is $1,831.99 and its 200-day moving average price is $1,424.09. Comfort Systems USA, Inc. has a 1 year low of $489.98 and a 1 year high of $2,073.99. The firm has a market capitalization of $69.39 billion, a price-to-earnings ratio of 56.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21.

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

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were paid a dividend of $0.80 per share. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, May 15th. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price on the stock in a research note on Friday, April 24th. Stifel Nicolaus raised their target price on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Erste Group Bank began coverage on Comfort Systems USA in a research note on Friday, June 5th. They issued a "buy" rating for the company. Finally, Glj Research started coverage on Comfort Systems USA in a report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $1,991.50.

Insider Activity

In related news, Director William J. Sandbrook sold 1,500 shares of the firm's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total value of $2,599,005.00. Following the transaction, the director directly owned 7,666 shares of the company's stock, valued at approximately $13,282,648.22. This trade represents a 16.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian E. Lane sold 11,113 shares of Comfort Systems USA stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the completion of the sale, the insider owned 161,089 shares in the company, valued at approximately $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 24,078 shares of company stock worth $46,651,175. Company insiders own 1.24% of the company's stock.

Comfort Systems USA Profile

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.

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