Comfort Systems USA, Inc. $FIX Stock: Nippon Life Global Investors Americas Inc. Reduces Holdings

Nippon Life Global Investors Americas Inc. decreased its holdings in Comfort Systems USA, Inc. (NYSE:FIX) by 92.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 460 shares of the construction company’s stock after selling 5,990 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Comfort Systems USA were worth $761,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FIX. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Comfort Systems USA during the 3rd quarter valued at $37,100,000. ProShare Advisors LLC increased its stake in shares of Comfort Systems USA by 3.8% in the third quarter. ProShare Advisors LLC now owns 6,739 shares of the construction company’s stock worth $11,147,000 after acquiring an additional 249 shares during the last quarter. Summit Global Investments increased its stake in shares of Comfort Systems USA by 12.5% in the third quarter. Summit Global Investments now owns 575 shares of the construction company’s stock worth $951,000 after acquiring an additional 64 shares during the last quarter. Americana Partners LLC raised its holdings in shares of Comfort Systems USA by 5.4% during the third quarter. Americana Partners LLC now owns 413 shares of the construction company’s stock worth $683,000 after acquiring an additional 21 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Comfort Systems USA by 25,900.6% during the third quarter. International Assets Investment Management LLC now owns 45,501 shares of the construction company’s stock worth $75,263,000 after acquiring an additional 45,326 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Comfort Systems USA

In related news, insider Brian E. Lane sold 16,024 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the transaction, the insider owned 145,065 shares of the company’s stock, valued at approximately $233,294,983.65. The trade was a 9.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Franklin Myers sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the transaction, the director owned 8,495 shares of the company’s stock, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,078 shares of company stock worth $43,211,828 in the last 90 days. 1.24% of the stock is owned by company insiders.

Comfort Systems USA Price Performance

NYSE FIX opened at $1,227.74 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $1,561.25 and a 200 day simple moving average of $1,597.15. The company has a market cap of $42.96 billion, a P/E ratio of 26.51 and a beta of 1.64. Comfort Systems USA, Inc. has a 1 year low of $841.66 and a 1 year high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last announced its earnings results on Thursday, October 22nd. The construction company reported $13.91 EPS for the quarter, topping the consensus estimate of $12.85 by $1.06. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.40 billion. Comfort Systems USA had a net margin of 13.01% and a return on equity of 55.24%. The business’s quarterly revenue was up 53.7% on a year-over-year basis. During the same quarter last year, the firm posted $8.25 EPS. On average, sell-side analysts predict that Comfort Systems USA, Inc. will post 50.32 EPS for the current year.

Comfort Systems USA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.0%. This is a drop from Comfort Systems USA’s previous quarterly dividend of $0.90. Comfort Systems USA’s payout ratio is presently 7.77%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings downgraded Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. The Goldman Sachs Group set a $1,875.00 price target on Comfort Systems USA in a research note on Tuesday, October 20th. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Zacks Research cut Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, UBS Group dropped their price objective on Comfort Systems USA from $2,225.00 to $1,900.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,916.14.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc (NYSE:FIX) is a provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. The company designs, installs, maintains, repairs, and replaces heating, ventilation, air conditioning, and temperature-control systems, as well as plumbing, piping, electrical, and related building systems.

Its services support new construction, building renovations, facility upgrades, and ongoing maintenance. Comfort Systems USA also provides specialized services for data centers, manufacturing facilities, healthcare buildings, educational institutions, and other complex commercial and industrial projects.

Founded in 1997 and headquartered in Houston, Texas, the company operates through a network of regional contracting businesses serving customers across the United States.