Kestra Private Wealth Services LLC Trims Stake in Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• Kestra Private Wealth Services LLC reduced its stake in Comfort Systems USA by 22.1% in Q1 2024, now holding 1,423 shares valued at approximately $459,000.
• Various institutional investors significantly increased their holdings in Comfort Systems USA, with GAMMA Investing LLC growing its position by 39,575.2% and JPMorgan Chase & Co. increasing theirs by 191.2%.
• Comfort Systems USA reported earnings of $6.53 per share, surpassing expectations, and announced a quarterly dividend increase to $0.50 per share, reflecting a boost from $0.45.

Kestra Private Wealth Services LLC decreased its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 22.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,423 shares of the construction company's stock after selling 403 shares during the period. Kestra Private Wealth Services LLC's holdings in Comfort Systems USA were worth $459,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Comfort Systems USA in the 4th quarter worth about $196,154,000. GAMMA Investing LLC grew its position in shares of Comfort Systems USA by 39,575.2% in the 1st quarter. GAMMA Investing LLC now owns 254,318 shares of the construction company's stock worth $81,974,000 after buying an additional 253,677 shares during the period. JPMorgan Chase & Co. grew its position in shares of Comfort Systems USA by 191.2% in the 4th quarter. JPMorgan Chase & Co. now owns 380,896 shares of the construction company's stock worth $161,523,000 after buying an additional 250,085 shares during the period. Voya Investment Management LLC grew its holdings in Comfort Systems USA by 824.2% in the fourth quarter. Voya Investment Management LLC now owns 233,553 shares of the construction company's stock worth $98,985,000 after purchasing an additional 208,283 shares during the period. Finally, Bain Capital Public Equity Management II LLC grew its holdings in Comfort Systems USA by 307.2% in the fourth quarter. Bain Capital Public Equity Management II LLC now owns 205,723 shares of the construction company's stock worth $87,239,000 after purchasing an additional 155,204 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FIX shares. DA Davidson upped their price objective on shares of Comfort Systems USA from $465.00 to $630.00 and gave the stock a "buy" rating in a report on Monday, June 30th. UBS Group upped their price target on Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research note on Friday. Wall Street Zen upgraded Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Stifel Nicolaus increased their target price on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $599.60.

Insider Activity at Comfort Systems USA

In related news, CFO William George III sold 12,500 shares of Comfort Systems USA stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $470.11, for a total transaction of $5,876,375.00. Following the transaction, the chief financial officer owned 47,473 shares in the company, valued at approximately $22,317,532.03. The trade was a 20.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vance W. Tang sold 500 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $422.00, for a total value of $211,000.00. Following the completion of the transaction, the director directly owned 4,998 shares in the company, valued at approximately $2,109,156. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock valued at $18,696,795 in the last ninety days. Corporate insiders own 1.59% of the company's stock.

Comfort Systems USA Trading Up 22.5%

NYSE:FIX opened at $689.44 on Friday. The company's 50 day moving average price is $514.64 and its 200-day moving average price is $435.77. Comfort Systems USA, Inc. has a 52 week low of $272.92 and a 52 week high of $699.39. The company has a quick ratio of 1.05, a current ratio of 1.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 35.43 and a beta of 1.51.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.84 by $1.69. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a net margin of 9.01% and a return on equity of 40.97%. The business's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.74 EPS. On average, 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 declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Thursday, August 14th. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio (DPR) is currently 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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