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

Congress Asset Management Co. decreased its holdings in Comfort Systems USA, Inc. (NYSE:FIX) by 14.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 82,338 shares of the construction company’s stock after selling 13,539 shares during the period. Congress Asset Management Co.’s holdings in Comfort Systems USA were worth $76,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FIX. Invesco Ltd. lifted its stake in Comfort Systems USA by 7.4% in the third quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company’s stock worth $878,454,000 after purchasing an additional 73,727 shares during the last quarter. AQR Capital Management LLC boosted its position in Comfort Systems USA by 6.8% during the third quarter. AQR Capital Management LLC now owns 835,560 shares of the construction company’s stock valued at $678,475,000 after buying an additional 53,125 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Comfort Systems USA by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company’s stock valued at $606,117,000 after buying an additional 197,613 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Comfort Systems USA by 29.8% during the third quarter. First Trust Advisors LP now owns 513,257 shares of the construction company’s stock valued at $423,529,000 after buying an additional 117,892 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Comfort Systems USA in the second quarter worth about $256,998,000. Institutional investors own 96.51% of the company’s stock.

Insider Buying and Selling

In other Comfort Systems USA news, Director Franklin Myers sold 8,636 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $1,472.56, for a total value of $12,717,028.16. Following the completion of the transaction, the director directly owned 73,995 shares in the company, valued at approximately $108,962,077.20. This represents a 10.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $3,608,300.00. Following the completion of the sale, the director directly owned 9,166 shares of the company’s stock, valued at approximately $13,229,471.12. This represents a 21.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,288 shares of company stock valued at $53,677,038 over the last three months. Insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FIX shares. DA Davidson boosted 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. Zacks Research raised Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. UBS Group reiterated a “buy” rating and issued a $1,310.00 price objective on shares of Comfort Systems USA in a research report on Monday, February 2nd. Wall Street Zen cut shares of Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. Finally, Stifel Nicolaus set a $1,611.00 target price on shares of Comfort Systems USA in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Comfort Systems USA has a consensus rating of “Buy” and an average target price of $1,573.67.

Comfort Systems USA Stock Up 4.1%

NYSE 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 stock has a market capitalization of $49.67 billion, a PE 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 business’s 50-day moving average is $1,289.25 and its 200 day 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, beating analysts’ consensus estimates of $6.75 by $2.62. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the company posted $4.09 EPS. Comfort Systems USA’s quarterly revenue was up 41.7% compared to the same quarter last year. Sell-side analysts forecast that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Friday, March 6th were paid a $0.70 dividend. The ex-dividend date of this dividend 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 payout ratio is 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.