Secure Asset Management LLC Cuts Stake in Comfort Systems USA, Inc. $FIX

Key Points

• Secure Asset Management LLC reduced its stake in Comfort Systems USA, Inc. by 9.0%, now owning 5,802 shares valued at approximately $3.11 million.
• Comfort Systems USA reported a strong second quarter with earnings per share of $6.53, exceeding expectations, and a revenue increase of 20.1% compared to the previous year.
• The company recently increased its quarterly dividend from $0.45 to $0.50, reflecting a commitment to returning value to shareholders.

Secure Asset Management LLC reduced its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 9.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,802 shares of the construction company's stock after selling 577 shares during the quarter. Secure Asset Management LLC's holdings in Comfort Systems USA were worth $3,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Partners Wealth lifted its holdings in Comfort Systems USA by 85.7% during the fourth quarter. Focus Partners Wealth now owns 1,092 shares of the construction company's stock valued at $463,000 after purchasing an additional 504 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Comfort Systems USA by 7.0% during the fourth quarter. ProShare Advisors LLC now owns 1,659 shares of the construction company's stock valued at $704,000 after purchasing an additional 108 shares during the last quarter. Royal Bank of Canada lifted its holdings in Comfort Systems USA by 71.2% during the fourth quarter. Royal Bank of Canada now owns 47,507 shares of the construction company's stock valued at $20,146,000 after purchasing an additional 19,753 shares during the last quarter. Tidal Investments LLC lifted its holdings in Comfort Systems USA by 95.8% during the fourth quarter. Tidal Investments LLC now owns 10,189 shares of the construction company's stock valued at $4,321,000 after purchasing an additional 4,986 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Comfort Systems USA by 8.5% during the fourth quarter. Two Sigma Investments LP now owns 40,868 shares of the construction company's stock valued at $17,330,000 after purchasing an additional 3,193 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group upped their price objective on shares of Comfort Systems USA from $710.00 to $875.00 and gave the company a "buy" rating in a report on Monday. William Blair assumed coverage on shares of Comfort Systems USA in a report on Thursday, September 11th. They set an "outperform" rating on the stock. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. DA Davidson upped their price objective on shares of Comfort Systems USA from $630.00 to $810.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Northcoast Research cut Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. 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 data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $668.60.

Comfort Systems USA Price Performance

Shares of FIX stock traded down $2.82 during trading on Friday, hitting $796.56. The company had a trading volume of 685,925 shares, compared to its average volume of 384,381. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. The stock's 50-day moving average is $683.84 and its two-hundred day moving average is $513.73. The stock has a market capitalization of $28.10 billion, a price-to-earnings ratio of 40.93 and a beta of 1.54. Comfort Systems USA, Inc. has a 52 week low of $276.44 and a 52 week high of $806.58.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $4.84 by $1.69. The company had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.97 billion. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. Comfort Systems USA's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.74 earnings per share. As a group, analysts predict that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Thursday, August 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 14th. Comfort Systems USA's dividend payout ratio (DPR) is currently 10.28%.

Insider Buying and Selling

In related news, COO T Mckenna Trent sold 4,400 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 21,639 shares in the company, valued at approximately $15,507,156.57. This represents a 16.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William George III sold 8,436 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $692.60, for a total transaction of $5,842,773.60. Following the completion of the transaction, the chief financial officer owned 47,473 shares in the company, valued at approximately $32,879,799.80. This trade represents a 15.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,783 shares of company stock valued at $18,710,798 in the last 90 days. 1.59% of the stock is owned by company insiders.

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.