New York State Teachers Retirement System Has $27.87 Million Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• New York State Teachers Retirement System trimmed its stake in Comfort Systems USA (NYSE:FIX) by 7.7% in Q4 to 29,865 shares, worth about $27.87 million (0.08% of the company).
• Comfort Systems posted stronger-than-expected quarterly results — $10.51 EPS vs. $6.81 expected and $2.87B revenue (up 56.5% YoY) — and analysts have largely upgraded the stock, leaving a consensus price target near $1,923.20 with several firms lifting targets into the ~$1.8k–$2.0k range.
• Company insiders have been selling recently (directors sold notable blocks and insiders sold 39,288 shares worth about $57.17M over the past three months), even as Comfort Systems raised its quarterly dividend to $0.80 (annualized $3.20, ~0.2% yield).

New York State Teachers Retirement System lessened its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,865 shares of the construction company's stock after selling 2,476 shares during the period. New York State Teachers Retirement System owned 0.08% of Comfort Systems USA worth $27,873,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. JFS Wealth Advisors LLC raised its stake in Comfort Systems USA by 29.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after buying an additional 10 shares during the last quarter. West Michigan Advisors LLC raised its stake in Comfort Systems USA by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 768 shares of the construction company's stock worth $717,000 after buying an additional 10 shares during the last quarter. Armstrong Advisory Group Inc. raised its stake in Comfort Systems USA by 4.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 283 shares of the construction company's stock worth $264,000 after buying an additional 11 shares during the last quarter. Belpointe Asset Management LLC raised its stake in Comfort Systems USA by 1.0% during the third quarter. Belpointe Asset Management LLC now owns 1,256 shares of the construction company's stock worth $1,036,000 after buying an additional 13 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in Comfort Systems USA by 0.9% during the third quarter. Flagship Harbor Advisors LLC now owns 1,478 shares of the construction company's stock worth $1,220,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FIX. Wall Street Zen raised shares of Comfort Systems USA from a "buy" rating to a "strong-buy" rating in a research note on Saturday. DA Davidson lifted their target price on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Glj Research began 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 target price for the company. UBS Group lifted their target price on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Finally, Zacks Research downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Comfort Systems USA presently has an average rating of "Moderate Buy" and a consensus price target of $1,923.20.

Insider Activity

In other news, Director Franklin Myers sold 8,636 shares of Comfort Systems USA stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $1,472.56, for a total transaction of $12,717,028.16. Following the completion of the transaction, the director directly owned 73,995 shares in the company, valued at $108,962,077.20. This trade represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Darcy Anderson sold 4,500 shares of Comfort Systems USA stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $1,369.74, for a total transaction of $6,163,830.00. Following the transaction, the director owned 18,035 shares of the company's stock, valued at $24,703,260.90. This represents a 19.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 39,288 shares of company stock valued at $57,165,933. 1.24% of the stock is currently owned by insiders.

Comfort Systems USA Stock Up 1.7%

Shares of NYSE FIX opened at $1,870.95 on Friday. The stock has a market capitalization of $65.86 billion, a P/E ratio of 53.98 and a beta of 1.70. The company has a 50-day moving average price of $1,497.63 and a 200-day moving average price of $1,188.75. Comfort Systems USA, Inc. has a 1 year low of $420.88 and a 1 year high of $1,877.35. 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 issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.81 by $3.70. The firm had revenue of $2.87 billion during the quarter, compared to analysts' expectations 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 revenue was up 56.5% on a year-over-year basis. During the same period last year, the company earned $4.75 earnings per share. On average, equities research analysts forecast that Comfort Systems USA, Inc. will post 43.42 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.80 per share. 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%. The ex-dividend date is Friday, May 15th. Comfort Systems USA's dividend payout ratio is 8.08%.

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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