Jennison Associates LLC Sells 21,731 Shares of Comfort Systems USA, Inc. (NYSE:FIX)

Jennison Associates LLC lessened its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 13.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,759 shares of the construction company's stock after selling 21,731 shares during the period. Jennison Associates LLC owned about 0.40% of Comfort Systems USA worth $46,015,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FIX. Kingsview Wealth Management LLC raised its stake in Comfort Systems USA by 76.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,111 shares of the construction company's stock worth $358,000 after buying an additional 480 shares during the period. Verdence Capital Advisors LLC raised its stake in Comfort Systems USA by 32.9% during the 1st quarter. Verdence Capital Advisors LLC now owns 1,062 shares of the construction company's stock worth $342,000 after buying an additional 263 shares during the period. Victory Capital Management Inc. raised its stake in Comfort Systems USA by 289.0% during the 1st quarter. Victory Capital Management Inc. now owns 172,571 shares of the construction company's stock worth $55,625,000 after buying an additional 128,209 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Comfort Systems USA by 54.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company's stock worth $34,000 after buying an additional 37 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in Comfort Systems USA by 136.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 443 shares of the construction company's stock worth $143,000 after buying an additional 256 shares during the period. Institutional investors own 96.51% of the company's stock.

Insider Buying and Selling at Comfort Systems USA

In other news, insider Brian E. Lane sold 15,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $431.66, for a total transaction of $6,474,900.00. Following the transaction, the insider directly owned 198,046 shares of the company's stock, valued at approximately $85,488,536.36. This trade represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Darcy Anderson sold 8,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $506.82, for a total value of $4,054,560.00. Following the transaction, the director directly owned 26,535 shares in the company, valued at $13,448,468.70. This trade represents a 23.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,800 shares of company stock valued at $18,696,795. 1.59% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen downgraded Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Stifel Nicolaus upped their target price on Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, DA Davidson upped their target price on Comfort Systems USA from $465.00 to $630.00 and gave the company a "buy" rating in a report on Monday, June 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $572.60.

Comfort Systems USA Price Performance

Comfort Systems USA stock opened at $555.33 on Friday. Comfort Systems USA, Inc. has a one year low of $272.93 and a one year high of $559.36. The business has a fifty day moving average price of $503.56 and a 200-day moving average price of $431.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 1.05. The firm has a market capitalization of $19.59 billion, a P/E ratio of 33.31 and a beta of 1.51.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The construction company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.66 by $1.09. Comfort Systems USA had a return on equity of 36.35% and a net margin of 8.13%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business posted $2.69 earnings per share. The firm's revenue was up 19.1% compared to the same quarter last year. As a group, equities research analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were given a dividend of $0.45 per share. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.40. The ex-dividend date was Friday, May 16th. This represents a $1.80 dividend on an annualized basis and a yield of 0.32%. Comfort Systems USA's dividend payout ratio (DPR) is presently 10.80%.

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.

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