Lord Abbett & CO. LLC Decreases Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Lord Abbett & Co. LLC trimmed its stake in Comfort Systems USA by 0.8% in the fourth quarter, though it still held 271,580 shares worth about $253.5 million. Institutional investors remain heavily involved, with hedge funds and other institutions owning 96.51% of the stock.
• Analysts remain bullish on FIX, with multiple firms raising targets and issuing buy ratings. The stock now has an average analyst rating of “Buy” and an average price target of $1,991.50.
• Comfort Systems USA posted strong quarterly results, beating expectations with $10.51 EPS versus $6.81 expected and revenue of $2.87 billion versus $2.39 billion expected. The company also raised its quarterly dividend to $0.80 from $0.70.

Lord Abbett & CO. LLC decreased its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 271,580 shares of the construction company's stock after selling 2,167 shares during the period. Lord Abbett & CO. LLC owned 0.77% of Comfort Systems USA worth $253,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Sumitomo Life Insurance Co. acquired a new position in Comfort Systems USA during the 4th quarter valued at approximately $1,856,000. Kane Investment Management Inc. increased its stake in Comfort Systems USA by 3.8% during the 4th quarter. Kane Investment Management Inc. now owns 1,983 shares of the construction company's stock valued at $1,850,000 after purchasing an additional 73 shares in the last quarter. Keystone Investors PTE Ltd. acquired a new position in Comfort Systems USA during the 4th quarter valued at approximately $1,322,000. Wealthspire Advisors LLC increased its stake in Comfort Systems USA by 226.7% during the 4th quarter. Wealthspire Advisors LLC now owns 294 shares of the construction company's stock valued at $274,000 after purchasing an additional 204 shares in the last quarter. Finally, Summit Financial LLC acquired a new position in Comfort Systems USA during the 4th quarter valued at approximately $217,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analysts Set New Price Targets

FIX has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. KeyCorp upgraded shares of 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 research note on Friday, April 24th. DA Davidson upped their price target on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Finally, Glj Research initiated coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They set a "buy" rating and a $2,001.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Comfort Systems USA presently has an average rating of "Buy" and an average price target of $1,991.50.

Insider Transactions at Comfort Systems USA

In other news, Director Rhoman J. Hardy sold 342 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total value of $649,827.36. Following the sale, the director owned 1,890 shares in the company, valued at $3,591,151.20. This represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William George III sold 1,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the completion of the sale, the chief financial officer owned 32,804 shares in the company, valued at $66,295,571.84. The trade was a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 24,078 shares of company stock valued at $46,651,175. 1.24% of the stock is owned by corporate insiders.

Comfort Systems USA Stock Up 1.8%

NYSE:FIX opened at $1,877.52 on Friday. The firm has a market capitalization of $66.09 billion, a P/E ratio of 54.17 and a beta of 1.65. Comfort Systems USA, Inc. has a 1-year low of $489.54 and a 1-year high of $2,073.99. The company's fifty day moving average price is $1,781.45 and its 200-day moving average price is $1,386.40. 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 (NYSE:FIX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business's quarterly revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.75 earnings per share. As a group, equities research analysts anticipate that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

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

Comfort Systems USA 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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