Truist Financial Corp Decreases Stock Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Truist Financial cut its stake in Comfort Systems USA by 22.8% in Q4, selling 7,431 shares and leaving it with 25,126 shares worth roughly $23.45 million.
• Strong quarterly results: Comfort Systems reported $10.51 EPS vs. $6.81 expected and $2.87 billion revenue (up 56.5% YoY), prompting several analyst price-target increases and a consensus "Moderate Buy."
• Dividend increase and insider activity: the company raised its quarterly dividend to $0.80 (annualized $3.20, ~0.2% yield), while insiders sold about 50,401 shares (~$79.1 million) during the last quarter.

Truist Financial Corp lessened its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 22.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,126 shares of the construction company's stock after selling 7,431 shares during the quarter. Truist Financial Corp owned approximately 0.07% of Comfort Systems USA worth $23,450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in Comfort Systems USA during the third quarter valued at $25,000. Ameriflex Group Inc. raised its position in shares of Comfort Systems USA by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock worth $25,000 after purchasing an additional 15 shares during the last quarter. Eastern Bank acquired a new position in shares of Comfort Systems USA during the 3rd quarter worth about $31,000. JFS Wealth Advisors LLC raised its position in shares of Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after purchasing an additional 10 shares during the last quarter. Finally, ORG Partners LLC raised its position in shares of Comfort Systems USA by 63.0% during the 4th quarter. ORG Partners LLC now owns 44 shares of the construction company's stock worth $41,000 after purchasing an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Stock Up 2.2%

Shares of NYSE FIX opened at $2,010.22 on Thursday. The stock has a market cap of $70.76 billion, a PE ratio of 58.00 and a beta of 1.70. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a 12-month low of $422.53 and a 12-month high of $2,018.05. The company has a 50-day moving average of $1,519.76 and a 200 day moving average of $1,207.50.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the company posted $4.75 EPS. The business's revenue was up 56.5% on a year-over-year basis. As a group, sell-side analysts predict that Comfort Systems USA, Inc. will post 43.42 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, May 15th. Comfort Systems USA's dividend payout ratio is presently 8.08%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Glj Research started coverage on Comfort Systems USA in a report on Monday, April 20th. They set a "buy" rating and a $2,001.00 target price for the company. DA Davidson raised their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Stifel Nicolaus boosted their price target on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Finally, KeyCorp raised 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 note on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Comfort Systems USA has an average rating of "Moderate Buy" and an average price target of $1,923.20.

Insider Buying and Selling

In other news, SVP Terrence Reed sold 1,116 shares of the business's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $1,397.33, for a total transaction of $1,559,420.28. Following the transaction, the senior vice president owned 2,834 shares of the company's stock, valued at approximately $3,960,033.22. The trade was a 28.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pablo G. Mercado sold 500 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $1,779.78, for a total transaction of $889,890.00. Following the completion of the sale, the director directly owned 3,000 shares of the company's stock, valued at $5,339,340. This represents a 14.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 50,401 shares of company stock worth $79,056,765 over the last quarter. Corporate insiders own 1.24% of the company's stock.

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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