Redwood Investments LLC Cuts Stake in Comfort Systems USA, Inc. $FIX

Key Points

• Redwood Investments LLC significantly reduced its stake in Comfort Systems USA, selling 3,630 shares and decreasing its holdings by 47.3% during Q1, with remaining shares valued at $1,302,000.
• Several institutional investors increased their positions in Comfort Systems USA, highlighted by Brooklyn Investment Group's 259.4% growth in holdings during the same period, indicating strong interest in the company.
• Comfort Systems USA reported a strong earnings performance, with an EPS of $6.53, surpassing estimates and marking a 20.1% revenue increase year-over-year.

Redwood Investments LLC reduced its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 47.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,039 shares of the construction company's stock after selling 3,630 shares during the period. Redwood Investments LLC's holdings in Comfort Systems USA were worth $1,302,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FIX. Kestra Investment Management LLC lifted its stake in Comfort Systems USA by 37.6% during the 1st quarter. Kestra Investment Management LLC now owns 4,790 shares of the construction company's stock valued at $1,544,000 after acquiring an additional 1,310 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Comfort Systems USA by 2,872,410.3% during the 1st quarter. Jones Financial Companies Lllp now owns 833,028 shares of the construction company's stock valued at $268,510,000 after acquiring an additional 832,999 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Comfort Systems USA during the 1st quarter valued at $1,931,000. Scientech Research LLC bought a new position in Comfort Systems USA during the 1st quarter valued at $801,000. Finally, PharVision Advisers LLC raised its stake in shares of Comfort Systems USA by 29.4% during the 1st quarter. PharVision Advisers LLC now owns 1,017 shares of the construction company's stock worth $328,000 after purchasing an additional 231 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FIX has been the topic of a number of recent analyst reports. William Blair initiated coverage on Comfort Systems USA in a research note on Thursday. They set an "outperform" rating on the stock. Wall Street Zen upgraded Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Stifel Nicolaus lifted their price objective on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a report on Friday, July 11th. DA Davidson lifted their price objective on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $635.60.

Comfort Systems USA Price Performance

Shares of NYSE FIX traded down $10.70 during midday trading on Friday, hitting $754.21. 301,656 shares of the company's stock were exchanged, compared to its average volume of 373,101. Comfort Systems USA, Inc. has a 12-month low of $276.44 and a 12-month high of $772.22. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The company has a market cap of $26.61 billion, a price-to-earnings ratio of 38.76 and a beta of 1.54. The business's fifty day moving average price is $659.03 and its two-hundred day moving average price is $498.97.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, topping 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 company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm earned $3.74 earnings per share. Comfort Systems USA's revenue was up 20.1% on a year-over-year basis. As a group, research analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.50 per share. 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. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. Comfort Systems USA's payout ratio is presently 10.28%.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, insider Brian E. Lane sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $691.74, for a total value of $6,917,400.00. Following the completion of the sale, the insider owned 188,046 shares of the company's stock, valued at $130,078,940.04. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pablo G. Mercado sold 1,078 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $695.88, for a total value of $750,158.64. Following the completion of the sale, the director directly owned 6,500 shares of the company's stock, valued at approximately $4,523,220. This represents a 14.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,783 shares of company stock valued at $18,710,798 in the last ninety days. Insiders own 1.59% of the company's stock.

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.