Congress Asset Management Co. Sells 13,539 Shares of Comfort Systems USA, Inc. $FIX

Congress Asset Management Co. cut its holdings in Comfort Systems USA, Inc. (NYSE:FIX) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,338 shares of the construction company’s stock after selling 13,539 shares during the period. Congress Asset Management Co. owned 0.23% of Comfort Systems USA worth $76,845,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Comfort Systems USA during the 2nd quarter valued at $256,998,000. AQR Capital Management LLC grew its position in shares of Comfort Systems USA by 47.5% in the second quarter. AQR Capital Management LLC now owns 782,435 shares of the construction company’s stock valued at $419,049,000 after purchasing an additional 252,007 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Comfort Systems USA by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company’s stock valued at $606,117,000 after purchasing an additional 197,613 shares during the period. AMF Tjanstepension AB bought a new stake in shares of Comfort Systems USA during the 3rd quarter valued at $156,183,000. Finally, Third Point LLC purchased a new stake in Comfort Systems USA during the 2nd quarter worth about $99,199,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FIX has been the subject of a number of recent analyst reports. Wall Street Zen lowered Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Comfort Systems USA in a report on Wednesday, January 21st. Stifel Nicolaus set a $1,611.00 price objective on shares of Comfort Systems USA in a research report on Monday, February 23rd. Zacks Research raised shares of Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, UBS Group reiterated 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Comfort Systems USA has a consensus rating of “Buy” and a consensus price target of $1,573.67.

Insider Activity

In related news, Director Franklin Myers sold 8,636 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $1,472.56, for a total transaction of $12,717,028.16. Following the transaction, the director directly owned 73,995 shares of the company’s stock, valued at approximately $108,962,077.20. This trade represents a 10.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Terrence Reed sold 1,116 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $1,397.33, for a total value of $1,559,420.28. Following the completion of the sale, the senior vice president owned 2,834 shares of the company’s stock, valued at $3,960,033.22. The trade was a 28.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 37,288 shares of company stock valued at $53,677,038. 1.59% of the stock is owned by insiders.

Comfort Systems USA Trading Up 4.1%

Shares of FIX opened at $1,412.42 on Tuesday. Comfort Systems USA, Inc. has a 1-year low of $276.44 and a 1-year high of $1,500.00. The company has a market capitalization of $49.67 billion, a P/E ratio of 48.87 and a beta of 1.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.21 and a quick ratio of 1.19. The firm’s 50 day simple moving average is $1,289.25 and its 200 day simple moving average is $1,038.42.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings results on Thursday, February 19th. The construction company reported $9.37 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $2.62. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Comfort Systems USA had a net margin of 11.23% and a return on equity of 48.52%. The business’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.09 EPS. Sell-side analysts forecast that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company 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 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA’s dividend payout ratio (DPR) is 9.69%.

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.