Dividend Assets Capital LLC Sells 3,268 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Dividend Assets Capital LLC cut its Comfort Systems USA stake by 30.2% in Q1, selling 3,268 shares and leaving it with 7,566 shares worth about $10.43 million.
• Comfort Systems USA posted a strong quarter, with EPS of $10.51 beating estimates by $3.70 and revenue of $2.87 billion, up 56.5% from a year earlier.
• The company also raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $1,991.50.

Dividend Assets Capital LLC reduced its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 30.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,566 shares of the construction company's stock after selling 3,268 shares during the period. Comfort Systems USA comprises 2.1% of Dividend Assets Capital LLC's investment portfolio, making the stock its 16th largest position. Dividend Assets Capital LLC's holdings in Comfort Systems USA were worth $10,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Coston McIsaac & Partners increased its stake in shares of Comfort Systems USA by 3.0% in the first quarter. Coston McIsaac & Partners now owns 239 shares of the construction company's stock worth $329,000 after buying an additional 7 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its holdings in Comfort Systems USA by 1.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 572 shares of the construction company's stock worth $789,000 after acquiring an additional 8 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Comfort Systems USA by 1.3% in the first quarter. Fulton Bank N.A. now owns 603 shares of the construction company's stock valued at $832,000 after acquiring an additional 8 shares during the period. Farmers & Merchants Investments Inc. increased its position in shares of Comfort Systems USA by 29.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after acquiring an additional 9 shares during the period. Finally, Great Lakes Advisors LLC raised its stake in shares of Comfort Systems USA by 3.0% during the fourth quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock valued at $291,000 after acquiring an additional 9 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Down 0.0%

NYSE FIX opened at $1,741.16 on Monday. The firm has a market capitalization of $61.29 billion, a PE ratio of 50.24 and a beta of 1.66. The stock's 50 day moving average is $1,884.63 and its 200 day moving average is $1,489.17. Comfort Systems USA, Inc. has a twelve month low of $513.99 and a twelve month high of $2,073.99. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 51.69% and a net margin of 12.07%.The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the company earned $4.75 earnings per share. The firm's quarterly revenue was up 56.5% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were given a dividend of $0.80 per share. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's dividend payout ratio is 9.23%.

Insider Buying and Selling at Comfort Systems USA

In other news, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction that occurred 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 completion of the transaction, the director directly owned 62,115 shares in the company, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian E. Lane sold 11,113 shares of the business's stock in a transaction that occurred on 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 directly owned 161,089 shares in the company, valued at approximately $317,319,555.76. This represents a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,778 shares of company stock valued at $59,746,124 over the last three months. 1.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FIX shares. Erste Group Bank initiated coverage on Comfort Systems USA in a report on Friday, June 5th. They set a "buy" rating on the stock. Zacks Research cut Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, June 26th. KeyCorp upgraded 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 report on Friday, April 24th. Wall Street Zen cut Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Finally, Oppenheimer initiated coverage on Comfort Systems USA in a report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 target price for the company. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,991.50.

Comfort Systems USA Company 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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