Sumitomo Mitsui Trust Group Inc. Buys 74,357 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Sumitomo Mitsui Trust Group boosted its stake in Comfort Systems USA (NYSE:FIX) by 24,703.3%, buying 74,357 shares to hold 74,658 shares (about 0.21% of the company), valued at roughly $69.68 million at quarter-end.
• Strong quarterly results: Comfort Systems reported EPS of $9.37 vs. $6.75 expected and revenue of $2.65 billion (up 41.7% year-over-year), and raised its quarterly dividend to $0.70 from $0.60.
• Significant insider selling: Directors and insiders sold a total of 37,288 shares worth about $53.68 million over the past 90 days, leaving insiders with just 1.59% ownership.

Sumitomo Mitsui Trust Group Inc. raised its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 24,703.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 74,658 shares of the construction company's stock after purchasing an additional 74,357 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Comfort Systems USA worth $69,678,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FIX. Caerus Investment Advisors LLC bought a new stake in Comfort Systems USA in the 3rd quarter worth $767,000. Private Advisor Group LLC raised its stake in shares of Comfort Systems USA by 50.1% during the third quarter. Private Advisor Group LLC now owns 7,781 shares of the construction company's stock valued at $6,420,000 after acquiring an additional 2,598 shares during the last quarter. Spire Wealth Management raised its stake in shares of Comfort Systems USA by 658.1% during the fourth quarter. Spire Wealth Management now owns 5,390 shares of the construction company's stock valued at $5,031,000 after acquiring an additional 4,679 shares during the last quarter. Private Client Services LLC boosted its holdings in shares of Comfort Systems USA by 624.4% during the third quarter. Private Client Services LLC now owns 2,731 shares of the construction company's stock worth $2,254,000 after purchasing an additional 2,354 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Comfort Systems USA by 19.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,277 shares of the construction company's stock worth $12,474,000 after purchasing an additional 2,461 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insider Buying and Selling

In other news, Director William J. Sandbrook sold 2,500 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $1,443.32, for a total transaction of $3,608,300.00. Following the sale, the director owned 9,166 shares in the company, valued at approximately $13,229,471.12. The trade was a 21.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Franklin Myers sold 8,636 shares of the company's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $1,472.56, for a total transaction of $12,717,028.16. Following the completion of the sale, the director directly owned 73,995 shares in the company, valued at $108,962,077.20. This represents a 10.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,288 shares of company stock valued at $53,677,038 over the last 90 days. 1.59% of the stock is currently owned by company insiders.

Comfort Systems USA Price Performance

FIX stock opened at $1,651.07 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.21 and a quick ratio of 1.19. Comfort Systems USA, Inc. has a 1 year low of $321.95 and a 1 year high of $1,671.95. The firm has a 50-day moving average of $1,394.03 and a 200 day moving average of $1,116.31. The company has a market cap of $58.08 billion, a P/E ratio of 57.13 and a beta of 1.60.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The construction company reported $9.37 earnings per share for the quarter, beating the consensus estimate of $6.75 by $2.62. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.The business had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.34 billion. During the same period in the previous year, the firm posted $4.09 EPS. The business's revenue was up 41.7% on a year-over-year basis. On average, sell-side analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Friday, March 6th were given a dividend of $0.70 per share. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, March 6th. Comfort Systems USA's dividend payout ratio is presently 9.69%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 3rd. DA Davidson lifted their price objective on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. UBS Group reissued a "buy" rating and set a $1,310.00 target price on shares of Comfort Systems USA in a research note on Monday, February 2nd. Stifel Nicolaus set a $1,611.00 target price on Comfort Systems USA in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $1,573.67.

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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