US Bancorp DE Sells 7,946 Shares of Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• US Bancorp DE significantly reduced its stake in Comfort Systems USA by 67.2%, selling 7,946 shares to hold a total of 3,884 shares valued at approximately $1.25 million.
• Comfort Systems USA recently declared an increase in its quarterly dividend from $0.45 to $0.50 per share, effective for investors of record as of August 14th.
• The company reported strong quarterly earnings, with an EPS of $6.53, surpassing analysts' estimates and indicating a 20.1% increase in revenue year-over-year.

US Bancorp DE lessened its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 67.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,884 shares of the construction company's stock after selling 7,946 shares during the period. US Bancorp DE's holdings in Comfort Systems USA were worth $1,252,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FIX. Sumitomo Mitsui Trust Group Inc. boosted its position in Comfort Systems USA by 13.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,556 shares of the construction company's stock worth $824,000 after purchasing an additional 296 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Comfort Systems USA by 27.7% in the first quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock valued at $364,000 after acquiring an additional 239 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Comfort Systems USA by 97.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock valued at $2,377,000 after acquiring an additional 3,644 shares during the period. Dynamic Advisor Solutions LLC raised its stake in shares of Comfort Systems USA by 256.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 2,040 shares of the construction company's stock valued at $658,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Spire Wealth Management raised its stake in Comfort Systems USA by 9.8% during the first quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock worth $324,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group raised their target price on Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Stifel Nicolaus raised their price target on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wall Street Zen raised Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Northcoast Research lowered Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, DA Davidson lifted their target price on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $635.60.

Insider Transactions at Comfort Systems USA

In other news, Director Darcy Anderson sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $506.82, for a total value of $4,054,560.00. Following the transaction, the director owned 26,535 shares in the company, valued at $13,448,468.70. This trade represents a 23.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO T Mckenna Trent sold 4,400 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $716.63, for a total value of $3,153,172.00. Following the sale, the chief operating officer directly owned 21,639 shares of the company's stock, valued at $15,507,156.57. The trade was a 16.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,836 shares of company stock worth $19,967,906 in the last three months. Insiders own 1.59% of the company's stock.

Comfort Systems USA Price Performance

Shares of NYSE:FIX traded down $28.96 during trading on Wednesday, reaching $689.65. 300,630 shares of the company traded hands, compared to its average volume of 471,550. The company's 50 day moving average is $567.76 and its two-hundred day moving average is $452.37. The firm has a market capitalization of $24.33 billion, a PE ratio of 35.57 and a beta of 1.49. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.03. Comfort Systems USA, Inc. has a 52 week low of $276.44 and a 52 week high of $733.25.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%. The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the prior year, the firm posted $3.74 earnings per share. The business's quarterly revenue was up 20.1% on a year-over-year basis. As a group, sell-side analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Thursday, August 14th will be issued a $0.50 dividend. The ex-dividend date is Thursday, August 14th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 0.3%. Comfort Systems USA's dividend payout ratio is currently 9.25%.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.