Kestra Investment Management LLC Trims Stake in Comfort Systems USA, Inc. $FIX

Key Points

• Kestra Investment Management LLC cut its stake in Comfort Systems USA by 28.1% in the fourth quarter, selling 571 shares and ending with 1,464 shares valued at about $1.37 million.
• Insiders have been selling shares, including CEO Brian E. Lane and CFO William George III, with total insider sales over the last quarter amounting to 29,352 shares worth $53.7 million.
• Comfort Systems USA posted strong results, beating earnings and revenue expectations in its latest quarter and raising its quarterly dividend to $0.80 from $0.70.

Kestra Investment Management LLC reduced its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 28.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,464 shares of the construction company's stock after selling 571 shares during the period. Kestra Investment Management LLC's holdings in Comfort Systems USA were worth $1,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Farmers & Merchants Investments Inc. increased its position in Comfort Systems USA by 29.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock worth $37,000 after purchasing an additional 9 shares during the period. JFS Wealth Advisors LLC increased its position in Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after purchasing an additional 10 shares during the period. West Michigan Advisors LLC increased its position in Comfort Systems USA by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 768 shares of the construction company's stock worth $717,000 after purchasing an additional 10 shares during the period. EWA LLC increased its position in Comfort Systems USA by 2.7% during the 4th quarter. EWA LLC now owns 379 shares of the construction company's stock worth $353,000 after purchasing an additional 10 shares during the period. Finally, Armstrong Advisory Group Inc. increased its position in Comfort Systems USA by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 283 shares of the construction company's stock worth $264,000 after purchasing an additional 11 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Brian E. Lane sold 11,113 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 161,089 shares in the company, valued at $317,319,555.76. This represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William George III sold 1,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total value of $2,020,960.00. Following the completion of the sale, the chief financial officer directly owned 32,804 shares in the company, valued at approximately $66,295,571.84. The trade was a 2.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 29,352 shares of company stock worth $53,724,598. 1.24% of the stock is owned by insiders.

Comfort Systems USA Stock Performance

FIX opened at $1,886.97 on Wednesday. The stock has a market cap of $66.42 billion, a P/E ratio of 54.44 and a beta of 1.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The stock's 50 day simple moving average is $1,666.57 and its 200 day simple moving average is $1,306.05. 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 released its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The business had revenue of $2.87 billion for 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 company's revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.75 EPS. As a group, equities analysts anticipate that Comfort Systems USA, Inc. will post 43.17 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were issued a $0.80 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. 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%.

Analyst Ratings Changes

Several equities analysts have issued reports on FIX shares. Wall Street Zen cut Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Glj Research started coverage on Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 target price 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. Zacks Research cut Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,923.20.

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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