Goldman Sachs Group Inc. Sells 302,278 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Comfort Systems USA, decreasing its ownership by 47.6% after selling 302,278 shares, leaving it with approximately 0.94% of the company valued at $107.25 million.
• Comfort Systems USA has announced a quarterly dividend increase from $0.45 to $0.50 per share, representing a 0.3% yield and a dividend payout ratio of 10.28%.
• The company reported $6.53 earnings per share for the last quarter, exceeding estimates and marking a 20.1% year-over-year revenue growth with total revenue of $2.17 billion.

Goldman Sachs Group Inc. decreased its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 47.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,736 shares of the construction company's stock after selling 302,278 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.94% of Comfort Systems USA worth $107,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tradewinds Capital Management LLC boosted its holdings in shares of Comfort Systems USA by 49.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock worth $26,000 after buying an additional 27 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of Comfort Systems USA in the 1st quarter worth about $31,000. Versant Capital Management Inc boosted its holdings in shares of Comfort Systems USA by 257.1% in the 1st quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock worth $32,000 after buying an additional 72 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Comfort Systems USA by 54.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company's stock worth $34,000 after buying an additional 37 shares during the last quarter. Finally, Brooklyn Investment Group boosted its holdings in shares of Comfort Systems USA by 259.4% in the 1st quarter. Brooklyn Investment Group now owns 115 shares of the construction company's stock worth $37,000 after buying an additional 83 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Comfort Systems USA Price Performance

NYSE FIX opened at $754.21 on Friday. The company has a market cap of $26.61 billion, a PE ratio of 38.76 and a beta of 1.54. Comfort Systems USA, Inc. has a 52 week low of $276.44 and a 52 week high of $772.22. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. The firm's 50-day simple moving average is $659.03 and its two-hundred day simple moving average is $498.97.

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

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Thursday, August 14th were given a dividend of $0.50 per share. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, August 14th. Comfort Systems USA's dividend payout ratio (DPR) is currently 10.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FIX shares. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Stifel Nicolaus boosted their price target on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Northcoast Research downgraded shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. DA Davidson boosted their price target on shares of Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Comfort Systems USA has an average rating of "Buy" and a consensus price target of $635.60.

Insider Activity

In other news, CFO William George III sold 8,436 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $692.60, for a total transaction of $5,842,773.60. Following the sale, the chief financial officer directly owned 47,473 shares in the company, valued at $32,879,799.80. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Brian E. Lane sold 10,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $691.74, for a total value of $6,917,400.00. Following the sale, the insider owned 188,046 shares in the company, valued at approximately $130,078,940.04. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,783 shares of company stock valued at $18,710,798. 1.59% of the stock is currently owned by insiders.

About Comfort Systems USA

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.

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