Private Advisor Group LLC Sells 1,512 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Private Advisor Group LLC cut its stake in Comfort Systems USA by 19.5% in the first quarter, selling 1,512 shares and leaving it with 6,240 shares worth about $8.6 million.
• Comfort Systems USA reported strong quarterly results, with 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 currently rate the stock a consensus Moderate Buy with a target price of $1,991.50.

Private Advisor Group LLC lessened its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,240 shares of the construction company's stock after selling 1,512 shares during the period. Private Advisor Group LLC's holdings in Comfort Systems USA were worth $8,605,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Comfort Systems USA in the first quarter worth $2,438,000. Leonteq Securities AG raised its holdings in Comfort Systems USA by 633.3% in the 1st quarter. Leonteq Securities AG now owns 44 shares of the construction company's stock worth $61,000 after acquiring an additional 38 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Comfort Systems USA by 31.8% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 15,400 shares of the construction company's stock worth $21,236,000 after acquiring an additional 3,720 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its position in Comfort Systems USA by 20.8% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 314 shares of the construction company's stock worth $433,000 after acquiring an additional 54 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Comfort Systems USA by 145.6% during the first quarter. Sound Income Strategies LLC now owns 140 shares of the construction company's stock valued at $200,000 after acquiring an additional 83 shares during the period. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Price Performance

NYSE:FIX opened at $1,741.16 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The company has a 50-day moving average of $1,884.63 and a 200-day moving average of $1,489.17. Comfort Systems USA, Inc. has a 52 week low of $513.99 and a 52 week high of $2,073.99. The company has a market capitalization of $61.29 billion, a price-to-earnings ratio of 50.24 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter in the previous year, the firm posted $4.75 earnings per share. The firm's revenue for the quarter was up 56.5% on a year-over-year basis. As a group, equities research analysts anticipate that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were paid a $0.80 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio is currently 9.23%.

Insiders Place Their Bets

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the sale, the director directly owned 62,115 shares in the company, valued at $121,401,904.05. This represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian E. Lane sold 11,113 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the transaction, the insider owned 161,089 shares of the company's stock, valued at $317,319,555.76. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,778 shares of company stock worth $59,746,124 in the last 90 days. 1.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FIX. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Zacks Research downgraded Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. Stifel Nicolaus raised their target price 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. KeyCorp raised Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target on the stock in a research report on Friday, April 24th. Finally, Erste Group Bank assumed coverage on Comfort Systems USA in a report on Friday, June 5th. They set a "buy" rating for the company. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,991.50.

Comfort Systems USA Company 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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