Precision Wealth Strategies LLC Reduces Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• Precision Wealth Strategies LLC cut its Comfort Systems USA stake by 53.8% in the first quarter, selling 772 shares and leaving it with 664 shares valued at about $916,000.
• Comfort Systems USA posted strong quarterly results, with EPS of $10.51 versus $6.81 expected 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 broadly positive with a consensus rating of Moderate Buy and an average price target of $2,015.43.

Precision Wealth Strategies LLC cut its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 53.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 664 shares of the construction company's stock after selling 772 shares during the quarter. Precision Wealth Strategies LLC's holdings in Comfort Systems USA were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Core Wealth Advisors LLC purchased a new position in shares of Comfort Systems USA during the fourth quarter valued at approximately $28,000. CENTRAL TRUST Co bought a new position in shares of Comfort Systems USA during the first quarter valued at approximately $46,000. Ascentis Independent Advisors purchased a new stake in Comfort Systems USA in the first quarter worth $46,000. Brown Lisle Cummings Inc. purchased a new stake in Comfort Systems USA in the first quarter worth $47,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Comfort Systems USA in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Price Performance

Shares of FIX stock opened at $1,667.28 on Friday. The stock has a market cap of $58.69 billion, a price-to-earnings ratio of 48.10 and a beta of 1.66. The business's fifty day moving average is $1,861.34 and its 200 day moving average is $1,540.19. Comfort Systems USA, Inc. has a twelve month low of $513.99 and a twelve month high of $2,073.99. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01.

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

Comfort Systems USA Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on FIX. UBS Group upped their price objective on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Zacks Research cut shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 26th. The Goldman Sachs Group began coverage on shares of Comfort Systems USA in a research report on Thursday, July 9th. They set a "buy" rating and a $2,159.00 price target on the stock. Finally, Oppenheimer initiated coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 price target for the company. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,015.43.

Insider Buying and Selling

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the sale, the director owned 62,115 shares in the company, valued at approximately $121,401,904.05. This represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Sandbrook sold 1,500 shares of the company's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $1,732.67, for a total transaction of $2,599,005.00. Following the completion of the sale, the director owned 7,666 shares in the company, valued at approximately $13,282,648.22. This trade represents a 16.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,778 shares of company stock worth $59,746,124 over the last 90 days. Corporate insiders own 1.24% of the company's stock.

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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