Horizon Investments LLC Boosts Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• Comfort Systems reported a strong quarter, beating expectations with EPS $10.51 vs. $6.81 and revenue of $2.87 billion (up 56.5% year-over-year).
• Insiders sold heavily—CFO William George III sold 9,000 shares (~$12.9M) and Brian E. Lane sold 9,365 shares (~$13.6M); insiders disposed of 39,288 shares (~$57.2M) in the quarter, leaving insider ownership at 1.24%.
• Horizon Investments increased its position by 21.8% to 16,689 shares (worth $15.576M); hedge funds own 96.51% of the stock and analysts hold a consensus "Moderate Buy" with an average price target of $1,923.20.

Horizon Investments LLC grew its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,689 shares of the construction company's stock after purchasing an additional 2,982 shares during the period. Horizon Investments LLC's holdings in Comfort Systems USA were worth $15,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC bought a new position in shares of Comfort Systems USA in the third quarter worth about $25,000. Ameriflex Group Inc. raised its stake in shares of Comfort Systems USA by 100.0% during the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock valued at $25,000 after acquiring an additional 15 shares in the last quarter. Eastern Bank purchased a new stake in shares of Comfort Systems USA in the third quarter valued at approximately $31,000. JFS Wealth Advisors LLC boosted its holdings in shares of Comfort Systems USA by 29.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after purchasing an additional 10 shares during the period. Finally, ORG Partners LLC grew its stake in Comfort Systems USA by 63.0% in the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company's stock worth $41,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analyst Ratings Changes

FIX has been the topic of several research reports. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. KeyCorp upgraded Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price for the company in a report on Friday, April 24th. Zacks Research downgraded Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Glj Research began coverage on Comfort Systems USA in a research note on Monday, April 20th. They set a "buy" rating and a $2,001.00 price target on the stock. Finally, Wall Street Zen upgraded Comfort Systems USA from a "buy" rating to a "strong-buy" rating in a report on Saturday. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,923.20.

Insider Activity

In other news, CFO William George III sold 9,000 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $1,434.97, for a total value of $12,914,730.00. Following the transaction, the chief financial officer directly owned 37,824 shares of the company's stock, valued at approximately $54,276,305.28. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian E. Lane sold 9,365 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $1,453.12, for a total transaction of $13,608,468.80. Following the completion of the transaction, the insider owned 171,523 shares in the company, valued at approximately $249,243,501.76. This trade represents a 5.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 39,288 shares of company stock valued at $57,165,933. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Stock Up 1.7%

Comfort Systems USA stock opened at $1,870.95 on Friday. The business has a fifty day moving average of $1,497.63 and a two-hundred day moving average of $1,186.36. 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 has a market cap of $65.86 billion, a P/E ratio of 53.98 and a beta of 1.70. Comfort Systems USA, Inc. has a twelve month low of $420.88 and a twelve month high of $1,877.35.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the business posted $4.75 EPS. The business's revenue was up 56.5% compared to the same quarter last year. On average, analysts forecast that Comfort Systems USA, Inc. will post 43.42 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date is Friday, May 15th. Comfort Systems USA's dividend payout ratio is currently 8.08%.

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.

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.