Integrated Quantitative Investments LLC Reduces Position in Comfort Systems USA, Inc. $FIX

Key Points

• Integrated Quantitative Investments LLC trimmed its stake in Comfort Systems USA by 44.4% in Q3, selling 925 shares and retaining 1,159 shares valued at about $956,000.
• Comfort Systems posted a strong quarter — EPS $9.37 vs. $6.75 expected and revenue of $2.65 billion, up 41.7% year-over-year and above the $2.34 billion consensus.
• Analysts remain broadly bullish (consensus Buy, average price target ~$1,573.67 and some targets up to $1,800) even as insiders sold roughly 31,001 shares (~$45.0M) in the past 90 days, including a $13.6M sale by Brian E. Lane.

Integrated Quantitative Investments LLC trimmed its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 44.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159 shares of the construction company's stock after selling 925 shares during the period. Integrated Quantitative Investments LLC's holdings in Comfort Systems USA were worth $956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Leeward Financial Partners LLC raised its stake in shares of Comfort Systems USA by 6.6% in the third quarter. Leeward Financial Partners LLC now owns 534 shares of the construction company's stock worth $441,000 after buying an additional 33 shares during the period. Kane Investment Management Inc. grew its stake in shares of Comfort Systems USA by 5.8% during the 3rd quarter. Kane Investment Management Inc. now owns 1,910 shares of the construction company's stock valued at $1,576,000 after acquiring an additional 105 shares during the period. JT Stratford LLC bought a new position in shares of Comfort Systems USA during the 3rd quarter valued at approximately $866,000. Cambria Investment Management L.P. increased its holdings in Comfort Systems USA by 32.5% in the 3rd quarter. Cambria Investment Management L.P. now owns 1,006 shares of the construction company's stock worth $830,000 after acquiring an additional 247 shares in the last quarter. Finally, Cresset Asset Management LLC raised its stake in Comfort Systems USA by 46.0% during the 3rd quarter. Cresset Asset Management LLC now owns 778 shares of the construction company's stock worth $642,000 after acquiring an additional 245 shares during the period. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Up 2.8%

Shares of FIX stock opened at $1,429.71 on Thursday. The stock has a market cap of $50.28 billion, a P/E ratio of 49.47 and a beta of 1.63. Comfort Systems USA, Inc. has a 52 week low of $276.44 and a 52 week high of $1,500.00. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.06. The company's fifty day simple moving average is $1,185.24 and its two-hundred day simple moving average is $973.90.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The construction company reported $9.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.75 by $2.62. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.The business had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.34 billion. During the same period in the prior year, the firm earned $4.09 EPS. The company's revenue for the quarter was up 41.7% on a year-over-year basis. Analysts predict that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Friday, March 6th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.2%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 6th. Comfort Systems USA's dividend payout ratio (DPR) is 8.30%.

Analysts Set New Price Targets

A number of research firms have weighed in on FIX. Stifel Nicolaus set a $1,611.00 price target on shares of Comfort Systems USA in a research report on Monday, February 23rd. DA Davidson lifted their target price on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Wall Street Zen lowered Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 3rd. UBS Group restated a "buy" rating and issued a $1,310.00 price objective on shares of Comfort Systems USA in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Comfort Systems USA has a consensus rating of "Buy" and a consensus price target of $1,573.67.

Insiders Place Their Bets

In other news, insider Brian E. Lane sold 9,365 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $1,453.12, for a total value of $13,608,468.80. Following the sale, the insider directly owned 171,523 shares in the company, valued at $249,243,501.76. The trade was a 5.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Constance Ellen Skidmore sold 1,000 shares of the company's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $1,425.00, for a total transaction of $1,425,000.00. Following the sale, the director owned 12,627 shares in the company, valued at $17,993,475. This represents a 7.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 31,001 shares of company stock worth $44,976,027. Insiders own 1.59% of the company's stock.

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.

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