Mountain Pacific Investment Advisers LLC Trims Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Mountain Pacific Investment Advisers cut its Comfort Systems USA stake by 15.3% in Q1, selling 1,184 shares and leaving it with 6,556 shares valued at about $9.0 million.
• Comfort Systems USA reported strong quarterly results, posting EPS of $10.51 versus estimates of $6.81 and revenue of $2.87 billion, up 56.5% year over year.
• The company raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain bullish overall with a consensus rating of Buy and an average price target of $1,991.50.

Mountain Pacific Investment Advisers LLC lowered its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 15.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,556 shares of the construction company's stock after selling 1,184 shares during the quarter. Comfort Systems USA makes up about 1.5% of Mountain Pacific Investment Advisers LLC's investment portfolio, making the stock its 20th largest holding. Mountain Pacific Investment Advisers LLC's holdings in Comfort Systems USA were worth $9,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ameriflex Group Inc. boosted its stake in Comfort Systems USA by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock valued at $25,000 after acquiring an additional 15 shares during the last quarter. Core Wealth Advisors LLC acquired a new position in Comfort Systems USA during the 4th quarter worth $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Comfort Systems USA in the 4th quarter worth about $33,000. Farmers & Merchants Investments Inc. increased its position in shares of Comfort Systems USA by 29.0% in 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 last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of Comfort Systems USA by 29.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Up 0.2%

Comfort Systems USA stock opened at $1,971.17 on Monday. The firm's 50-day moving average is $1,831.99 and its 200-day moving average is $1,424.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. Comfort Systems USA, Inc. has a 1 year low of $489.98 and a 1 year high of $2,073.99. The company has a market cap of $69.39 billion, a P/E ratio of 56.87 and a beta of 1.66.

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

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders 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 yield of 0.2%. Comfort Systems USA's payout ratio is presently 9.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FIX. Wall Street Zen cut shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Stifel Nicolaus boosted their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Oppenheimer initiated coverage on Comfort Systems USA in a research note on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price objective on the stock. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Monday, May 25th. Finally, Erste Group Bank assumed coverage on Comfort Systems USA in a research report on Friday, June 5th. They issued a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $1,991.50.

Insider Buying and Selling

In related news, CFO William George III sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,948.17, for a total value of $7,792,680.00. Following the sale, the chief financial officer owned 33,804 shares of the company's stock, valued at approximately $65,855,938.68. This trade represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Franklin Myers sold 4,500 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $1,902.57, for a total value of $8,561,565.00. Following the transaction, the director 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 SEC filing for this sale provides additional information. Insiders sold a total of 24,078 shares of company stock valued at $46,651,175 over the last 90 days. 1.24% of the stock is owned by corporate insiders.

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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