Invesco Ltd. Has $323.66 Million Stock Holdings in Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• Invesco Ltd. has reduced its stake in Comfort Systems USA by 28.4%, holding approximately 1,004,133 shares worth $323.66 million after selling 398,915 shares in the first quarter.
• Several institutional investors have increased their positions in Comfort Systems USA, including Tradewinds Capital Management with a 49.1% boost and Versant Capital Management with a 257.1% increase during the same period, reflecting strong investor interest.
• Comfort Systems USA recently declared a dividend increase from $0.45 to $0.50 per share, highlighting its commitment to returning value to shareholders amidst strong financial performance.

Invesco Ltd. decreased its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 28.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,004,133 shares of the construction company's stock after selling 398,915 shares during the quarter. Invesco Ltd. owned 2.85% of Comfort Systems USA worth $323,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FIX. Vanguard Group Inc. boosted its position in Comfort Systems USA by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,802,542 shares of the construction company's stock worth $1,225,673,000 after acquiring an additional 21,847 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Comfort Systems USA by 0.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 889,639 shares of the construction company's stock valued at $286,757,000 after buying an additional 4,512 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Comfort Systems USA by 36.4% during the 1st quarter. JPMorgan Chase & Co. now owns 519,437 shares of the construction company's stock valued at $167,430,000 after buying an additional 138,541 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Comfort Systems USA by 29.5% during the 4th quarter. First Trust Advisors LP now owns 463,790 shares of the construction company's stock valued at $196,675,000 after buying an additional 105,756 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Comfort Systems USA by 20.1% during the 4th quarter. Northern Trust Corp now owns 314,821 shares of the construction company's stock valued at $133,503,000 after buying an additional 52,726 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Stock Performance

NYSE FIX traded down $9.47 during trading on Friday, hitting $680.39. The company's stock had a trading volume of 408,860 shares, compared to its average volume of 461,570. 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 has a 50 day moving average price of $578.99 and a 200 day moving average price of $457.89. The firm has a market cap of $24.00 billion, a P/E ratio of 34.96 and a beta of 1.49. Comfort Systems USA, Inc. has a 52 week low of $276.44 and a 52 week high of $733.24.

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

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Thursday, August 14th will be paid a $0.50 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, August 14th. Comfort Systems USA's payout ratio is presently 10.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FIX shares. DA Davidson lifted their price target on Comfort Systems USA from $630.00 to $810.00 and gave the company a "buy" rating in a report on Monday, July 28th. Stifel Nicolaus lifted their price target on Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a report on Friday, July 11th. Northcoast Research downgraded Comfort Systems USA from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen raised Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, UBS Group raised their price objective on Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research note on Friday, July 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $635.60.

Insider Buying and Selling

In other Comfort Systems USA news, CFO William George III sold 8,436 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $692.60, for a total value of $5,842,773.60. Following the transaction, the chief financial officer owned 47,473 shares of the company's stock, valued at approximately $32,879,799.80. The trade was a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Julie Shaeff sold 1,369 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $704.50, for a total value of $964,460.50. Following the completion of the transaction, the chief accounting officer directly owned 16,023 shares in the company, valued at approximately $11,288,203.50. This represents a 7.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,205 shares of company stock valued at $20,932,366. Insiders own 1.59% of the company's stock.

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.