Comfort Systems USA, Inc. $FIX Holdings Trimmed by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has reduced its stake in Comfort Systems USA, Inc. by 36.3%, now holding 7,862 shares valued at approximately $2.51 million.
• Comfort Systems USA reported strong financial results, with earnings per share of $6.53 for the last quarter, significantly surpassing estimates, and revenues of $2.17 billion, a 20.1% increase year-over-year.
• The company has also increased its quarterly dividend from $0.45 to $0.50, representing a 0.3% yield, demonstrating its commitment to returning value to shareholders.

Hsbc Holdings PLC decreased its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 36.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,862 shares of the construction company's stock after selling 4,473 shares during the quarter. Hsbc Holdings PLC's holdings in Comfort Systems USA were worth $2,506,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Comfort Systems USA by 13.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,556 shares of the construction company's stock valued at $824,000 after purchasing an additional 296 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Comfort Systems USA by 27.7% in the first quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock valued at $364,000 after purchasing an additional 239 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Comfort Systems USA by 97.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock valued at $2,377,000 after purchasing an additional 3,644 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of Comfort Systems USA by 256.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 2,040 shares of the construction company's stock valued at $658,000 after purchasing an additional 1,467 shares during the period. Finally, Spire Wealth Management increased its stake in shares of Comfort Systems USA by 9.8% in the first quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock valued at $324,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Price Performance

Shares of NYSE FIX traded down $15.67 during mid-day trading on Tuesday, reaching $687.71. 64,630 shares of the company traded hands, compared to its average volume of 464,476. Comfort Systems USA, Inc. has a fifty-two week low of $276.44 and a fifty-two week high of $733.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. The firm has a market cap of $24.26 billion, a PE ratio of 35.31 and a beta of 1.54. The stock has a fifty day simple moving average of $623.32 and a 200-day simple moving average of $478.84.

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

Comfort Systems USA Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on FIX. Wall Street Zen upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. UBS Group raised their price target on shares of Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research note on Friday, July 25th. DA Davidson raised their price target on shares of Comfort Systems USA from $630.00 to $810.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $635.60.

Insider Transactions at Comfort Systems USA

In other Comfort Systems USA news, CAO Julie Shaeff sold 1,369 shares of Comfort Systems USA stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $704.50, for a total value of $964,460.50. Following the transaction, the chief accounting officer owned 16,023 shares in the company, valued at approximately $11,288,203.50. The trade was a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO William George III sold 8,436 shares of Comfort Systems USA stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 47,473 shares in the company, valued at approximately $32,879,799.80. This trade represents a 15.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,283 shares of company stock valued at $21,682,525 in the last 90 days. 1.59% of the stock is owned by corporate insiders.

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.