Vestcor Inc Has $490,000 Holdings in Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• Vestcor Inc significantly reduced its stake in Comfort Systems USA by selling 4,293 shares, resulting in a 73.9% decrease in its holdings to 1,520 shares valued at approximately $490,000.
• Comfort Systems USA reported strong quarterly earnings of $6.53 per share, exceeding estimates and showing a 20.1% year-over-year increase in revenue.
• The company has declared an increase in its quarterly dividend to $0.50 per share, reflecting its commitment to returning value to shareholders.

Vestcor Inc reduced its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 73.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,520 shares of the construction company's stock after selling 4,293 shares during the period. Vestcor Inc's holdings in Comfort Systems USA were worth $490,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Tradewinds Capital Management LLC increased its position in Comfort Systems USA by 49.1% during the first quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock worth $26,000 after purchasing an additional 27 shares during the last quarter. Colonial Trust Co SC boosted its holdings in Comfort Systems USA by 352.6% in the 4th quarter. Colonial Trust Co SC now owns 86 shares of the construction company's stock worth $36,000 after acquiring an additional 67 shares during the period. Versant Capital Management Inc raised its stake in shares of Comfort Systems USA by 257.1% during the first quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock valued at $32,000 after purchasing an additional 72 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of Comfort Systems USA by 131.1% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the construction company's stock valued at $45,000 after purchasing an additional 59 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Comfort Systems USA by 54.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company's stock valued at $34,000 after purchasing an additional 37 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 FIX traded down $6.74 during mid-day trading on Tuesday, hitting $692.42. The company's stock had a trading volume of 354,056 shares, compared to its average volume of 440,846. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. Comfort Systems USA, Inc. has a fifty-two week low of $276.44 and a fifty-two week high of $718.40. The stock has a market capitalization of $24.43 billion, a price-to-earnings ratio of 35.58 and a beta of 1.49. The firm has a 50-day moving average price of $541.99 and a 200 day moving average price of $445.00.

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, topping analysts' consensus estimates 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 firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter last year, the business posted $3.74 EPS. Comfort Systems USA's revenue was up 20.1% on a year-over-year basis. On average, research analysts predict that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stifel Nicolaus boosted their price target on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Northcoast Research cut shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. UBS Group boosted their price objective on Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, DA Davidson raised their price target on shares of Comfort Systems USA from $630.00 to $810.00 and gave the company a "buy" rating in a research note on Monday, July 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $635.60.

Insider Activity

In related news, insider Brian E. Lane sold 15,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $431.66, for a total transaction of $6,474,900.00. Following the completion of the transaction, the insider owned 198,046 shares of the company's stock, valued at approximately $85,488,536.36. The trade was a 7.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William George III sold 12,500 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $470.11, for a total transaction of $5,876,375.00. Following the completion of the sale, the chief financial officer owned 47,473 shares in the company, valued at $22,317,532.03. This represents a 20.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,900 shares of company stock worth $20,853,987. Insiders own 1.59% of the company's stock.

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.