The Manufacturers Life Insurance Company Decreases Stock Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• The Manufacturers Life Insurance Company cut its Comfort Systems USA stake by 8.2% in the first quarter, selling 2,140 shares and retaining 24,082 shares valued at approximately $33.2 million. Institutional investors collectively own 96.51% of the company.
• Comfort Systems USA reported a strong quarter, with EPS of $12.53 beating estimates of $10.45 and revenue rising 50.3% year over year to $3.27 billion. The company also raised its quarterly dividend from $0.80 to $0.90 per share.
• Analyst sentiment remains positive, with the stock carrying an average “Buy” rating and an average price target of $2,057.86, although Erste Group Bank downgraded it to “Hold.”

The Manufacturers Life Insurance Company lowered its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,082 shares of the construction company's stock after selling 2,140 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Comfort Systems USA worth $33,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its holdings in Comfort Systems USA by 41.1% in the first quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company's stock worth $1,100,000 after purchasing an additional 993 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Comfort Systems USA by 110.6% during the first quarter. Focus Partners Wealth now owns 2,300 shares of the construction company's stock valued at $741,000 after buying an additional 1,208 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Comfort Systems USA by 40.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company's stock valued at $579,000 after buying an additional 313 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Comfort Systems USA in the 2nd quarter valued at about $567,000. Finally, Sei Investments Co. boosted its holdings in shares of Comfort Systems USA by 69.2% in the 2nd quarter. Sei Investments Co. now owns 43,631 shares of the construction company's stock valued at $23,395,000 after buying an additional 17,839 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $1,728.56 on Friday. Comfort Systems USA, Inc. has a fifty-two week low of $655.96 and a fifty-two week high of $2,073.99. The company has a market cap of $60.83 billion, a PE ratio of 42.51 and a beta of 1.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. The business has a 50-day simple moving average of $1,817.97 and a two-hundred day simple moving average of $1,591.10.

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

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Thursday, August 13th will be paid a $0.90 dividend. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, August 13th. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is 8.85%.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the firm's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the completion of the transaction, the director owned 62,115 shares of the company's stock, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO William George III sold 1,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the completion of the transaction, the chief financial officer directly owned 32,804 shares of the company's stock, valued at approximately $66,295,571.84. This represents a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,778 shares of company stock worth $56,257,229 in the last 90 days. 1.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on FIX. Erste Group Bank lowered shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. UBS Group raised their target price on shares of Comfort Systems USA from $2,125.00 to $2,225.00 and gave the company a "buy" rating in a research note on Monday. Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Glj Research initiated coverage on shares of Comfort Systems USA in a report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target on the stock. Finally, KeyCorp upped their price target on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $2,057.86.

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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