JPMorgan Chase & Co. Has $659.83 Million Stock Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• JPMorgan Chase & Co. trimmed its Comfort Systems USA stake by 3.7% in the fourth quarter, but still held 706,992 shares valued at about $659.8 million at quarter-end.
• Comfort Systems USA posted a strong quarterly beat, reporting $10.51 EPS versus the $6.81 estimate and $2.87 billion in revenue, up 56.5% year over year.
• The company raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain broadly positive with a consensus rating of Buy and an average price target of $1,991.50.

JPMorgan Chase & Co. cut its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 706,992 shares of the construction company's stock after selling 27,527 shares during the period. JPMorgan Chase & Co. owned approximately 2.00% of Comfort Systems USA worth $659,830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FIX. Ameriflex Group Inc. raised its position in shares of Comfort Systems USA by 100.0% during the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock worth $25,000 after purchasing an additional 15 shares during the period. Core Wealth Advisors LLC purchased a new position in shares of Comfort Systems USA during the fourth quarter valued at $28,000. Farmers & Merchants Investments Inc. grew its holdings in shares of Comfort Systems USA by 29.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after buying an additional 9 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Comfort Systems USA by 29.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 10 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in shares of Comfort Systems USA by 63.0% during the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 17 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Comfort Systems USA Stock Performance

Shares of FIX stock opened at $1,828.35 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. Comfort Systems USA, Inc. has a fifty-two week low of $469.16 and a fifty-two week high of $2,073.99. The stock's 50-day moving average is $1,754.19 and its two-hundred day moving average is $1,370.35. The firm has a market cap of $64.36 billion, a P/E ratio of 52.75 and a beta of 1.65.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the firm posted $4.75 EPS. The business's revenue was up 56.5% compared to the same quarter last year. Analysts predict that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Insider Buying and Selling

In other Comfort Systems USA news, Director Franklin Myers sold 4,500 shares of the company's stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian E. Lane sold 11,113 shares of the company's 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 transaction, the insider directly owned 161,089 shares in the company, valued at approximately $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 24,078 shares of company stock worth $46,651,175. Insiders own 1.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Monday, May 25th. Erste Group Bank assumed coverage on Comfort Systems USA in a report on Friday, June 5th. They set a "buy" rating on the stock. Oppenheimer assumed coverage on Comfort Systems USA in a report on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price target on the stock. KeyCorp upgraded Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target on the stock in a report on Friday, April 24th. Finally, Glj Research assumed coverage on Comfort Systems USA in a report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Comfort Systems USA has an average rating of "Buy" and a consensus target price of $1,991.50.

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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