Meritage Portfolio Management Lowers Stock Position in Comfort Systems USA, Inc. $FIX

Meritage Portfolio Management reduced its position in shares of Comfort Systems USA, Inc. (NYSE:FIX) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,965 shares of the construction company’s stock after selling 321 shares during the period. Meritage Portfolio Management’s holdings in Comfort Systems USA were worth $2,767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in Comfort Systems USA by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company’s stock valued at $1,100,000 after buying an additional 993 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Comfort Systems USA by 110.6% in the 1st quarter. Focus Partners Wealth now owns 2,300 shares of the construction company’s stock worth $741,000 after buying an additional 1,208 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Comfort Systems USA by 40.9% in the second quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company’s stock valued at $579,000 after acquiring an additional 313 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Comfort Systems USA in the second quarter valued at approximately $567,000. Finally, Sei Investments Co. grew its holdings in shares of Comfort Systems USA by 69.2% in the second quarter. Sei Investments Co. now owns 43,631 shares of the construction company’s stock valued at $23,395,000 after acquiring an additional 17,839 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Comfort Systems USA

In related news, Director William J. Sandbrook sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $1,443.32, for a total value of $3,608,300.00. Following the completion of the transaction, the director directly owned 9,166 shares of the company’s stock, valued at approximately $13,229,471.12. This trade represents a 21.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Darcy Anderson sold 4,500 shares of Comfort Systems USA stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $1,369.74, for a total transaction of $6,163,830.00. Following the completion of the transaction, the director owned 18,035 shares of the company’s stock, valued at $24,703,260.90. This represents a 19.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 37,288 shares of company stock valued at $53,677,038. 1.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson increased their price target on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Comfort Systems USA in a research note on Monday. UBS Group reaffirmed a “buy” rating and set a $1,310.00 target price on shares of Comfort Systems USA in a research report on Monday, February 2nd. Glj Research started coverage on shares of Comfort Systems USA in a report on Monday. They set a “buy” rating and a $2,001.00 price objective for the company. Finally, Zacks Research raised shares of Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Comfort Systems USA currently has a consensus rating of “Buy” and an average target price of $1,732.50.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $1,674.88 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $1,438.47 and a two-hundred day simple moving average of $1,145.55. Comfort Systems USA, Inc. has a 1-year low of $333.60 and a 1-year high of $1,719.00. The firm has a market cap of $58.93 billion, a price-to-earnings ratio of 57.95 and a beta of 1.60.

Comfort Systems USA (NYSE:FIX) last issued its earnings results on Thursday, February 19th. The construction company reported $9.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the company posted $4.09 earnings per share. The business’s revenue was up 41.7% on a year-over-year basis. Analysts anticipate that Comfort Systems USA, Inc. will post 37.06 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Friday, March 6th were paid a $0.70 dividend. 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 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA’s dividend payout ratio is 9.69%.

Comfort Systems USA Company 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.