Moran Wealth Management LLC Lowers Holdings in Comfort Systems USA, Inc. $FIX

Moran Wealth Management LLC decreased its position in Comfort Systems USA, Inc. (NYSE:FIX) by 60.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,354 shares of the construction company’s stock after selling 17,003 shares during the period. Moran Wealth Management LLC’s holdings in Comfort Systems USA were worth $15,657,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FIX. Vanguard Group Inc. increased its stake in Comfort Systems USA by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock valued at $4,022,597,000 after purchasing an additional 625,567 shares in the last quarter. Norges Bank bought a new position in shares of Comfort Systems USA in the fourth quarter worth approximately $469,606,000. State Street Corp lifted its stake in shares of Comfort Systems USA by 35.6% in the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company’s stock worth $1,333,367,000 after buying an additional 375,118 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Comfort Systems USA by 39.0% in the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company’s stock worth $1,103,453,000 after buying an additional 332,441 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Comfort Systems USA by 37,987.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company’s stock valued at $289,349,000 after buying an additional 309,217 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FIX has been the subject of several analyst reports. UBS Group raised their price target on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a research note on Monday, April 20th. Erste Group Bank assumed coverage on Comfort Systems USA in a research note on Friday, June 5th. They set a “buy” rating on the stock. Finally, Oppenheimer assumed coverage on Comfort Systems USA in a report on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,991.50.

Comfort Systems USA Price Performance

FIX opened at $1,741.16 on Friday. The company’s 50-day simple moving average is $1,884.63 and its two-hundred day simple moving average is $1,485.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The stock has a market capitalization of $61.29 billion, a P/E ratio of 50.24 and a beta of 1.66. Comfort Systems USA, Inc. has a 52-week low of $513.99 and a 52-week high of $2,073.99.

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

Comfort Systems USA Increases Dividend

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

Insiders Place Their Bets

In other Comfort Systems USA news, insider Brian E. Lane sold 11,113 shares of Comfort Systems USA stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the completion of the sale, the insider owned 161,089 shares of the company’s stock, valued at approximately $317,319,555.76. The trade was a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William George III sold 1,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer owned 32,804 shares of the company’s stock, valued at approximately $66,295,571.84. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,778 shares of company stock worth $59,746,124 in the last 90 days. Insiders own 1.24% of the company’s stock.

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.