Nordea Investment Management AB Trims Stake in Comfort Systems USA, Inc. $FIX

Key Points

• Nordea Investment Management AB reduced its stake in Comfort Systems USA by 1.5%, selling 998 shares for a total of approximately $35.97 million.
• Comfort Systems USA announced a quarterly dividend increase from $0.45 to $0.50, representing a 0.2% yield with a payout ratio of 10.28%.
• Analysts have mixed views on Comfort Systems USA, with several firms upgrading the stock to a "buy" rating, while others have lowered it to "neutral," contributing to an average target price of $735.80.

Nordea Investment Management AB trimmed its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,098 shares of the construction company's stock after selling 998 shares during the quarter. Nordea Investment Management AB owned approximately 0.19% of Comfort Systems USA worth $35,974,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FIX. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Comfort Systems USA by 13.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,556 shares of the construction company's stock valued at $824,000 after acquiring an additional 296 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Comfort Systems USA by 97.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock valued at $2,377,000 after purchasing an additional 3,644 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Comfort Systems USA in the second quarter valued at about $27,000. Spire Wealth Management raised its holdings in Comfort Systems USA by 9.8% in the first quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock worth $324,000 after purchasing an additional 90 shares in the last quarter. Finally, Lifestyle Asset Management Inc. lifted its position in shares of Comfort Systems USA by 314.1% during the second quarter. Lifestyle Asset Management Inc. now owns 3,876 shares of the construction company's stock valued at $2,078,000 after buying an additional 2,940 shares during the last quarter. 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 analyst reports. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a report on Wednesday, October 8th. UBS Group raised their price objective on Comfort Systems USA from $710.00 to $875.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, William Blair initiated coverage on Comfort Systems USA in a research report on Thursday, September 11th. They set an "outperform" rating on the stock. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $735.80.

Insider Buying and Selling

In other news, COO T Mckenna Trent sold 4,400 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $716.63, for a total value of $3,153,172.00. Following the sale, the chief operating officer owned 21,639 shares in the company, valued at $15,507,156.57. This represents a 16.90% 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, insider Brian E. Lane sold 10,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $691.74, for a total transaction of $6,917,400.00. Following the transaction, the insider directly owned 188,046 shares of the company's stock, valued at approximately $130,078,940.04. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,783 shares of company stock worth $18,710,798 in the last quarter. 1.59% of the stock is currently owned by corporate insiders.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $827.02 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The company has a market cap of $29.18 billion, a PE ratio of 42.50 and a beta of 1.58. The business has a 50-day simple moving average of $761.23 and a two-hundred day simple moving average of $581.79. Comfort Systems USA, Inc. has a fifty-two week low of $276.44 and a fifty-two week high of $861.77.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Monday, August 15th. The construction company reported $0.90 earnings per share for the quarter. The business had revenue of $713.90 million during the quarter. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%. As a group, equities analysts expect that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Thursday, August 14th were given a $0.50 dividend. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, August 14th. Comfort Systems USA's payout ratio is currently 10.28%.

Comfort Systems USA Company Profile

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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