Intech Investment Management LLC Sells 5,977 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Intech Investment Management reduced its Comfort Systems USA stake by 47.5% in the fourth quarter, selling 5,977 shares and leaving it with 6,610 shares valued at about $6.17 million.
• Insiders have also been selling: CEO Brian E. Lane and Director Franklin Myers both disclosed sizable May sales, and company insiders sold 29,694 shares in the last quarter overall.
• Comfort Systems USA remains well regarded by analysts and strong operationally, with a consensus “Buy” rating and average price target of $1,969.33; the company also beat quarterly earnings and revenue estimates and raised its dividend to $0.80 per share.

Intech Investment Management LLC cut its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 47.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,610 shares of the construction company's stock after selling 5,977 shares during the quarter. Intech Investment Management LLC's holdings in Comfort Systems USA were worth $6,169,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Baker Avenue Asset Management LP bought a new position in Comfort Systems USA in the fourth quarter valued at about $227,000. Geode Capital Management LLC raised its position in Comfort Systems USA by 39.0% in the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after purchasing an additional 332,441 shares during the last quarter. Atlatl Advisers LLC bought a new position in Comfort Systems USA in the fourth quarter valued at about $1,642,000. Harbour Investments Inc. raised its position in Comfort Systems USA by 27.3% in the fourth quarter. Harbour Investments Inc. now owns 322 shares of the construction company's stock valued at $301,000 after purchasing an additional 69 shares during the last quarter. Finally, Allstate Corp bought a new position in Comfort Systems USA in the fourth quarter valued at about $2,460,000. 96.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Brian E. Lane sold 11,113 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the completion of the sale, the insider owned 161,089 shares of the company's stock, valued at approximately $317,319,555.76. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Franklin Myers sold 4,500 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $1,902.57, for a total value of $8,561,565.00. Following the sale, the director directly owned 68,983 shares of the company's stock, valued at $131,244,986.31. This represents a 6.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 29,694 shares of company stock valued at $54,374,425. Corporate insiders own 1.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. DA Davidson increased their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. UBS Group increased their target price on Comfort Systems USA from $1,680.00 to $1,992.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Stifel Nicolaus increased their target price on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Finally, Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $1,969.33.

Comfort Systems USA Trading Down 1.5%

Shares of FIX stock opened at $1,827.41 on Friday. The stock has a market cap of $64.32 billion, a price-to-earnings ratio of 52.72 and a beta of 1.70. The stock has a 50-day moving average of $1,692.34 and a 200-day moving average of $1,322.38. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a 1-year low of $465.05 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, beating the consensus estimate of $6.81 by $3.70. The company had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The business's quarterly revenue was up 56.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.75 earnings per share. On average, equities research analysts forecast that Comfort Systems USA, Inc. will post 43.38 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were paid a $0.80 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA's payout ratio is currently 9.23%.

Comfort Systems USA Company Profile

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.

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