Zurcher Kantonalbank Zurich Cantonalbank Sells 8,539 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• Zurcher Kantonalbank sold 8,539 shares of Comfort Systems USA in Q4, trimming its position by 5.6% to 143,602 shares (0.41% ownership), valued at about $134.02 million.
• Insiders sold a total of 37,288 shares worth $53.68 million last quarter, including Director William J. Sandbrook (2,500 shares at $1,443.32) and SVP Terrence Reed (1,116 shares at $1,397.33), leaving insiders with 1.59% ownership.
• Comfort Systems reported strong results (Q earnings $9.37 EPS vs. $6.75 estimate; revenue $2.65B, +41.7% YoY), has a consensus analyst rating of Buy with a $1,643 target, and raised its quarterly dividend to $0.70.

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,602 shares of the construction company's stock after selling 8,539 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.41% of Comfort Systems USA worth $134,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FIX. Toth Financial Advisory Corp bought a new position in Comfort Systems USA in the third quarter valued at $25,000. Quent Capital LLC bought a new position in Comfort Systems USA in the third quarter valued at $25,000. Ameriflex Group Inc. increased its stake in Comfort Systems USA by 100.0% in the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock valued at $25,000 after acquiring an additional 15 shares during the last quarter. Eastern Bank bought a new position in Comfort Systems USA in the third quarter valued at $31,000. Finally, JFS Wealth Advisors LLC increased its stake in 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 acquiring an additional 10 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Insider Activity at Comfort Systems USA

In related news, Director William J. Sandbrook sold 2,500 shares of the firm's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $1,443.32, for a total value of $3,608,300.00. Following the sale, the director directly owned 9,166 shares of the company's stock, valued at $13,229,471.12. This trade represents a 21.43% 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 link. Also, 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 value of $1,559,420.28. Following the transaction, the senior vice president owned 2,834 shares in the company, valued at approximately $3,960,033.22. This represents a 28.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,288 shares of company stock valued at $53,677,038 in the last quarter. 1.59% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on FIX shares. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research note on Wednesday, January 21st. UBS Group reissued a "buy" rating and issued a $1,310.00 target price on shares of Comfort Systems USA in a research note on Monday, February 2nd. DA Davidson increased 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 note on Monday, February 23rd. Wall Street Zen lowered shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 3rd. Finally, Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $1,643.00.

Comfort Systems USA Stock Performance

NYSE FIX opened at $1,652.49 on Monday. The company has a 50-day simple moving average of $1,422.35 and a two-hundred day simple moving average of $1,133.52. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.06. Comfort Systems USA, Inc. has a 12-month low of $321.95 and a 12-month high of $1,671.95. The firm has a market cap of $58.13 billion, a price-to-earnings ratio of 57.18 and a beta of 1.60.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The construction company reported $9.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $2.62. Comfort Systems USA had a net margin of 11.23% and a return on equity of 48.52%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the business posted $4.09 earnings per share. The company's revenue was up 41.7% on a year-over-year basis. On average, equities analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Friday, March 6th were given a dividend of $0.70 per share. The ex-dividend date was Friday, March 6th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is currently 9.69%.

About Comfort Systems USA

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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