Deutsche Bank AG Boosts Stake in Comfort Systems USA, Inc. $FIX

Key Points

• Deutsche Bank AG increased its stake in Comfort Systems USA by 31.2% in the fourth quarter, owning 312,824 shares worth about $291.96 million at quarter-end.
• Insider selling was notable, with executive Brian E. Lane and CFO William George III both selling shares recently; insiders have sold 24,078 shares worth $46.65 million over the past 90 days.
• Comfort Systems USA beat expectations in its latest quarter, reporting $10.51 EPS on $2.87 billion in revenue, while also raising its quarterly dividend from $0.70 to $0.80 per share.

Deutsche Bank AG raised its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 31.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,824 shares of the construction company's stock after buying an additional 74,412 shares during the period. Deutsche Bank AG owned approximately 0.89% of Comfort Systems USA worth $291,956,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Prudential PLC bought a new position in shares of Comfort Systems USA during the fourth quarter worth about $6,922,000. Ethic Inc. lifted its position in shares of Comfort Systems USA by 80.5% during the fourth quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock worth $1,565,000 after purchasing an additional 748 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Comfort Systems USA by 230.4% during the fourth quarter. BNP Paribas Financial Markets now owns 57,199 shares of the construction company's stock worth $53,383,000 after purchasing an additional 39,888 shares during the last quarter. Spire Wealth Management lifted its position 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 worth $5,031,000 after purchasing an additional 4,679 shares during the last quarter. Finally, Moran Wealth Management LLC lifted its position 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 worth $26,465,000 after purchasing an additional 7,192 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Insider Buying and Selling

In other Comfort Systems USA news, insider Brian E. Lane sold 11,113 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the sale, the insider owned 161,089 shares in the company, valued at approximately $317,319,555.76. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William George III sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the completion of the sale, the chief financial officer owned 32,804 shares in the company, valued at $66,295,571.84. The trade was a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,078 shares of company stock valued at $46,651,175 in the last ninety days. Insiders own 1.24% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Oppenheimer began coverage on shares of Comfort Systems USA in a research report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price target on the stock. 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 report on Friday, April 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Finally, UBS Group raised their target price on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $1,991.50.

Comfort Systems USA Stock Performance

Shares of NYSE FIX opened at $1,713.52 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average price is $1,763.06 and its two-hundred day moving average price is $1,376.26. Comfort Systems USA, Inc. has a 52-week low of $486.73 and a 52-week high of $2,073.99. The stock has a market capitalization of $60.32 billion, a P/E ratio of 49.44 and a beta of 1.65.

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

Comfort Systems USA Increases Dividend

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

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