Norden Group LLC Sells 394 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Norden Group LLC reduced its holdings in Comfort Systems USA, Inc. by 16.0% during Q2, now owning 2,066 shares worth approximately $1.11 million after selling 394 shares.
• Institutional investors, collectively owning 96.51% of Comfort Systems USA's stock, have been active, with several firms increasing stakes and new investments made in the recent quarter.
• Comfort Systems USA announced a quarterly dividend increase to $0.50 per share, reflecting a positive change from the previous dividend of $0.45, representing a yield of 0.3%.

Norden Group LLC lowered its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 16.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,066 shares of the construction company's stock after selling 394 shares during the quarter. Norden Group LLC's holdings in Comfort Systems USA were worth $1,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Maseco LLP bought a new stake in Comfort Systems USA during the second quarter worth $64,000. Fifth Third Bancorp increased its position in shares of Comfort Systems USA by 2.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,739 shares of the construction company's stock valued at $932,000 after purchasing an additional 34 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Comfort Systems USA during the 2nd quarter worth $423,000. Argent Capital Management LLC boosted its holdings in shares of Comfort Systems USA by 162.5% in the 2nd quarter. Argent Capital Management LLC now owns 9,719 shares of the construction company's stock worth $5,211,000 after buying an additional 6,017 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Comfort Systems USA by 27.8% during the second quarter. GAMMA Investing LLC now owns 1,008 shares of the construction company's stock valued at $540,000 after buying an additional 219 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insider Activity

In related news, CAO Julie Shaeff sold 1,369 shares of Comfort Systems USA stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $704.50, for a total transaction of $964,460.50. Following the completion of the sale, the chief accounting officer owned 16,023 shares of the company's stock, valued at approximately $11,288,203.50. This trade represents a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pablo G. Mercado sold 1,078 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $695.88, for a total value of $750,158.64. Following the transaction, the director owned 6,500 shares of the company's stock, valued at approximately $4,523,220. The trade was a 14.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,783 shares of company stock worth $18,710,798. Company insiders own 1.59% of the company's stock.

Wall Street Analyst Weigh In

FIX has been the topic of several research 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. William Blair began coverage on shares of Comfort Systems USA in a report on Thursday, September 11th. They issued an "outperform" rating on the stock. Zacks Research upgraded Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. DA Davidson raised their target price on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus boosted their target price on Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Comfort Systems USA presently has an average rating of "Buy" and an average price target of $668.60.

Comfort Systems USA Stock Performance

Shares of FIX opened at $791.61 on Thursday. Comfort Systems USA, Inc. has a 52-week low of $276.44 and a 52-week high of $825.00. The stock's 50-day simple moving average is $699.53 and its 200 day simple moving average is $523.50. 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 stock has a market capitalization of $27.93 billion, a price-to-earnings ratio of 40.68 and a beta of 1.54.

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 for the quarter, beating the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%.The firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the business posted $3.74 earnings per share. The company's revenue was up 20.1% on a year-over-year basis. Research analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's payout ratio is 10.28%.

Comfort Systems USA 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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