Engineers Gate Manager LP Reduces Stock Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Engineers Gate Manager LP cut its Comfort Systems USA stake by 68.5% in the second quarter, selling 4,830 shares and retaining 2,219 shares valued at approximately $4.4 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 beating estimates by $2.08 and revenue rising 50.3% year over year to $3.27 billion. The company also increased its quarterly dividend from $0.80 to $0.90 per share.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $2,082.86 versus the stock’s reported price of $1,688.20. However, company insiders sold 32,778 shares worth $56.3 million over the past three months.

Engineers Gate Manager LP lessened its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 68.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,219 shares of the construction company's stock after selling 4,830 shares during the quarter. Engineers Gate Manager LP's holdings in Comfort Systems USA were worth $4,398,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FIX. NewEdge Advisors LLC grew its position in shares of Comfort Systems USA by 41.1% in the first quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company's stock valued at $1,100,000 after purchasing an additional 993 shares during the last quarter. Focus Partners Wealth grew its holdings in Comfort Systems USA by 110.6% during the 1st quarter. Focus Partners Wealth now owns 2,300 shares of the construction company's stock valued at $741,000 after buying an additional 1,208 shares during the last quarter. Sivia Capital Partners LLC increased its position in Comfort Systems USA by 40.9% during the second quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company's stock worth $579,000 after buying an additional 313 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Comfort Systems USA during the second quarter worth $567,000. Finally, Sei Investments Co. raised its holdings in shares of Comfort Systems USA by 69.2% in the second quarter. Sei Investments Co. now owns 43,631 shares of the construction company's stock worth $23,395,000 after acquiring an additional 17,839 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Up 6.1%

Shares of NYSE FIX opened at $1,688.20 on Friday. Comfort Systems USA, Inc. has a 52-week low of $751.85 and a 52-week high of $2,073.99. The firm has a fifty day moving average of $1,686.01 and a 200-day moving average of $1,687.89. The stock has a market capitalization of $59.41 billion, a PE ratio of 41.52 and a beta of 1.67. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, topping analysts' consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The business's revenue for the quarter was up 50.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.53 EPS. On average, analysts anticipate that Comfort Systems USA, Inc. will post 47.2 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.90 per share. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, August 13th. Comfort Systems USA's payout ratio is currently 8.85%.

Analyst Upgrades and Downgrades

FIX has been the topic of a number of analyst reports. KeyCorp increased their price objective on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. DA Davidson assumed coverage on shares of Comfort Systems USA in a research note on Friday, August 21st. They set a "buy" rating and a $2,100.00 price target on the stock. Oppenheimer assumed coverage on shares of Comfort Systems USA in a report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price target for the company. Stifel Nicolaus set a $1,910.00 price objective on shares of Comfort Systems USA in a research report on Monday, July 27th. Finally, Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $2,082.86.

Insiders Place Their Bets

In other news, CFO William George, III sold 2,554 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the transaction, the chief financial officer directly owned 30,250 shares in the company, valued at $56,254,412.50. This trade represents a 7.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Franklin Myers sold 4,000 shares of Comfort Systems USA stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the completion of the transaction, the director directly owned 8,495 shares in the company, valued at $14,389,850.40. This represents a 32.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 32,778 shares of company stock worth $56,306,777 over the last three months. 1.24% of the stock is owned by insiders.

Comfort Systems USA Profile

Comfort Systems USA, Inc is a provider of commercial, industrial and institutional heating, ventilation, air conditioning and electrical contracting services. The company designs, installs, maintains and repairs mechanical systems used in buildings and industrial facilities, including heating and cooling equipment, plumbing, piping, controls and related building infrastructure.

The company serves customers through a network of operating subsidiaries across the United States. Its projects and services support a range of facilities, including office buildings, healthcare and educational institutions, manufacturing sites, technology and data center facilities, and other commercial and industrial properties.

Want to see what other hedge funds are holding FIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comfort Systems USA, Inc. (NYSE:FIX - Free Report).

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.