Summit Partners Public Asset Management LLC Lowers Position in Comfort Systems USA, Inc. $FIX

Key Points

• Summit Partners Public Asset Management cut its Comfort Systems USA stake by 50% in the fourth quarter, selling 20,000 shares and ending with 20,000 shares worth about $18.7 million.
• Comfort Systems USA posted strong quarterly results, with EPS of $10.51 beating estimates and revenue of $2.87 billion topping forecasts, while revenue jumped 56.5% year over year.
• Insiders have been selling shares, including CAO Julie Shaeff and insider Brian E. Lane, even as the company raised its quarterly dividend to $0.80 per share and analysts maintained a generally Buy outlook.

Summit Partners Public Asset Management LLC decreased its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the construction company's stock after selling 20,000 shares during the period. Summit Partners Public Asset Management LLC owned about 0.06% of Comfort Systems USA worth $18,666,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Farmers & Merchants Investments Inc. boosted its holdings in shares of Comfort Systems USA by 29.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after acquiring an additional 9 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Comfort Systems USA by 3.0% in the fourth quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock valued at $291,000 after purchasing an additional 9 shares during the period. JFS Wealth Advisors LLC lifted its stake in shares of Comfort Systems USA by 29.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after purchasing an additional 10 shares during the period. West Michigan Advisors LLC lifted its holdings in shares of Comfort Systems USA by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 768 shares of the construction company's stock valued at $717,000 after purchasing an additional 10 shares in the last quarter. Finally, EWA LLC grew its position in shares of Comfort Systems USA by 2.7% in the fourth quarter. EWA LLC now owns 379 shares of the construction company's stock valued at $353,000 after purchasing an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Insider Activity

In other Comfort Systems USA news, CAO Julie Shaeff sold 1,123 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the completion of the sale, the chief accounting officer directly owned 12,624 shares in the company, valued at $25,252,670.88. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian E. Lane sold 11,113 shares of the business's 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 sale, the insider owned 161,089 shares of the company's stock, valued at approximately $317,319,555.76. This represents a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,078 shares of company stock valued at $46,651,175 in the last ninety days. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Stock Performance

NYSE:FIX opened at $1,917.26 on Wednesday. The firm has a 50 day simple moving average of $1,802.15 and a 200-day simple moving average of $1,403.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market cap of $67.49 billion, a PE ratio of 55.32 and a beta of 1.65. Comfort Systems USA, Inc. has a 1-year low of $489.98 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the business posted $4.75 earnings per share. Comfort Systems USA's revenue for the quarter was up 56.5% compared to the same quarter last year. On average, equities analysts expect that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.2%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, May 15th. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.23%.

Analysts Set New Price Targets

Several analysts have recently commented on FIX shares. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 25th. Glj Research started coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price objective for the company. Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Stifel Nicolaus boosted their price objective on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Finally, KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective for the company in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $1,991.50.

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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