South Dakota Investment Council Reduces Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• South Dakota Investment Council cut its Comfort Systems USA stake by 34.5% in the first quarter, selling 3,647 shares and retaining 6,930 shares valued at approximately $9.6 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported strong quarterly results, with EPS of $12.53 beating estimates by $2.08 and revenue rising 50.3% year over year to $3.27 billion. The stock opened at $1,516.21, down 6.8%, while analysts maintain a “Moderate Buy” consensus and a $2,057.86 average price target.
• The company increased its quarterly dividend from $0.80 to $0.90 per share, implying an annualized dividend of $3.60 and a 0.2% yield. Recent insider activity was negative, with executives selling a combined 28,778 shares worth $56.3 million during the quarter.

South Dakota Investment Council lessened its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 34.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,930 shares of the construction company's stock after selling 3,647 shares during the quarter. South Dakota Investment Council's holdings in Comfort Systems USA were worth $9,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FIX. Prudential PLC bought a new position in Comfort Systems USA in the fourth quarter worth approximately $6,922,000. Ethic Inc. raised its position in Comfort Systems USA by 80.5% during the 4th quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock valued at $1,565,000 after purchasing an additional 748 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Comfort Systems USA by 230.4% in the 4th quarter. BNP Paribas Financial Markets now owns 57,199 shares of the construction company's stock worth $53,383,000 after buying an additional 39,888 shares during the period. Moran Wealth Management LLC lifted its holdings in shares of Comfort Systems USA by 34.0% in the 4th quarter. Moran Wealth Management LLC now owns 28,357 shares of the construction company's stock worth $26,465,000 after buying an additional 7,192 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Comfort Systems USA by 3,378.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 84,731 shares of the construction company's stock worth $79,079,000 after buying an additional 82,295 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Down 6.8%

Shares of NYSE FIX opened at $1,516.21 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $53.36 billion, a PE ratio of 37.29 and a beta of 1.66. The stock's fifty day simple moving average is $1,822.84 and its two-hundred day simple moving average is $1,585.32. Comfort Systems USA, Inc. has a 12-month low of $655.96 and a 12-month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.45 by $2.08. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The business's revenue was up 50.3% compared to the same quarter last year. During the same period last year, the business posted $6.53 EPS. As a group, analysts expect that Comfort Systems USA, Inc. will post 46.77 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Thursday, August 13th will be issued a $0.90 dividend. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, August 13th. Comfort Systems USA's dividend payout ratio is presently 7.87%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Erste Group Bank lowered Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. KeyCorp upped their price objective on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a research note on Monday. Stifel Nicolaus set a $1,910.00 target price on shares of Comfort Systems USA in a report on Monday. Glj Research initiated coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 target price on the stock. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a report on Friday, July 17th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Comfort Systems USA currently has an average rating of "Moderate Buy" and a consensus price target of $2,057.86.

Insider Buying and Selling at Comfort Systems USA

In other news, CAO Julie Shaeff sold 1,123 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the sale, the chief accounting officer directly owned 12,624 shares in the company, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian E. Lane sold 11,113 shares of Comfort Systems USA stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the completion of the transaction, the insider directly owned 161,089 shares in the company, valued at approximately $317,319,555.76. The trade was a 6.45% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 28,778 shares of company stock valued at $56,257,229. 1.24% of the stock is currently owned by corporate insiders.

Comfort Systems USA 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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