Bessemer Group Inc. Lowers Stake in Comfort Systems USA, Inc. $FIX

Bessemer Group Inc. lessened its position in Comfort Systems USA, Inc. (NYSE:FIX) by 25.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 22,192 shares of the construction company’s stock after selling 7,766 shares during the period. Bessemer Group Inc.’s holdings in Comfort Systems USA were worth $30,603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in Comfort Systems USA by 91.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 124,989 shares of the construction company’s stock worth $178,549,000 after acquiring an additional 59,623 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Comfort Systems USA during the 1st quarter worth $32,905,000. Westover Capital Advisors LLC boosted its holdings in shares of Comfort Systems USA by 5.8% during the first quarter. Westover Capital Advisors LLC now owns 584 shares of the construction company’s stock worth $805,000 after purchasing an additional 32 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Comfort Systems USA by 825.1% during the first quarter. Wealthfront Advisers LLC now owns 2,766 shares of the construction company’s stock worth $3,814,000 after purchasing an additional 2,467 shares during the last quarter. Finally, Twin Capital Management Inc. purchased a new stake in shares of Comfort Systems USA in the first quarter valued at $251,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Comfort Systems USA Price Performance

Shares of Comfort Systems USA stock opened at $1,667.28 on Friday. Comfort Systems USA, Inc. has a twelve month low of $513.99 and a twelve month high of $2,073.99. The stock has a market capitalization of $58.69 billion, a P/E ratio of 48.10 and a beta of 1.66. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $1,861.34 and its 200 day moving average price is $1,540.19.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.81 by $3.70. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The firm’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.75 earnings per share. As a group, research analysts anticipate that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, May 15th. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s dividend payout ratio (DPR) is presently 9.23%.

Insider Activity

In related news, CAO Julie Shaeff sold 1,123 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the transaction, the chief accounting officer owned 12,624 shares in the company, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO William George III sold 1,000 shares of Comfort Systems USA stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the transaction, the chief financial officer directly owned 32,804 shares in the company, valued at approximately $66,295,571.84. This trade represents a 2.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 30,778 shares of company stock worth $59,746,124. Insiders own 1.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Research cut Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. KeyCorp upgraded Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price target for the company in a report on Friday, April 24th. Oppenheimer started coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Comfort Systems USA has an average rating of “Moderate Buy” and an average target price of $2,015.43.

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.