Comfort Systems USA, Inc. (NYSE:FIX) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in Comfort Systems USA by 35.9%, selling 167,905 shares during the 1st quarter, leaving it with 0.85% ownership valued at approximately $96.7 million.
• Other institutional investors, including Sumitomo Mitsui Trust Group Inc. and Wealth Enhancement Advisory Services LLC, have increased their holdings in Comfort Systems USA, demonstrating a trend of institutional investment interest in the company.
• Comfort Systems USA recently announced a quarterly dividend increase to $0.50 per share, reflecting a commitment to returning value to shareholders as it continues to show strong earnings growth.

Federated Hermes Inc. cut its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 35.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 299,933 shares of the construction company's stock after selling 167,905 shares during the period. Federated Hermes Inc. owned approximately 0.85% of Comfort Systems USA worth $96,677,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FIX. FMR LLC boosted its holdings in Comfort Systems USA by 9.6% in the 4th quarter. FMR LLC now owns 1,697,035 shares of the construction company's stock worth $719,645,000 after buying an additional 148,493 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Comfort Systems USA by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 769,534 shares of the construction company's stock worth $326,409,000 after buying an additional 21,406 shares during the last quarter. First Trust Advisors LP boosted its holdings in Comfort Systems USA by 29.5% in the 4th quarter. First Trust Advisors LP now owns 463,790 shares of the construction company's stock worth $196,675,000 after buying an additional 105,756 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Comfort Systems USA by 191.2% in the 4th quarter. JPMorgan Chase & Co. now owns 380,896 shares of the construction company's stock worth $161,523,000 after buying an additional 250,085 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Comfort Systems USA by 20.1% in the 4th quarter. Northern Trust Corp now owns 314,821 shares of the construction company's stock worth $133,503,000 after buying an additional 52,726 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Comfort Systems USA news, CFO William George III sold 12,500 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $470.11, for a total value of $5,876,375.00. Following the completion of the transaction, the chief financial officer owned 47,473 shares in the company, valued at $22,317,532.03. This represents a 20.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Pablo G. Mercado sold 1,800 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.10, for a total transaction of $784,980.00. Following the sale, the director owned 7,236 shares of the company's stock, valued at $3,155,619.60. This trade represents a 19.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,700 shares of company stock valued at $21,638,967. Insiders own 1.59% of the company's stock.

Analyst Ratings Changes

FIX has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research note on Monday. UBS Group raised their target price on shares of Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. DA Davidson raised their target price on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $635.60.

Comfort Systems USA Trading Down 1.0%

NYSE FIX traded down $7.06 on Friday, reaching $696.24. The stock had a trading volume of 552,387 shares, compared to its average volume of 479,551. The firm has a market capitalization of $24.56 billion, a price-to-earnings ratio of 35.78 and a beta of 1.51. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. Comfort Systems USA, Inc. has a 12-month low of $272.92 and a 12-month high of $718.40. The stock has a fifty day moving average price of $532.98 and a two-hundred day moving average price of $442.84.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, topping the consensus estimate of $4.84 by $1.69. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The company's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.74 earnings per share. As a group, sell-side analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Thursday, August 14th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, August 14th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. Comfort Systems USA's payout ratio is presently 9.25%.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.