Fred Alger Management LLC Sells 6,878 Shares of Comfort Systems USA, Inc. $FIX

Fred Alger Management LLC reduced its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) by 20.2% during the 4th quarter, HoldingsChannel reports. The fund owned 27,228 shares of the construction company’s stock after selling 6,878 shares during the period. Fred Alger Management LLC’s holdings in Comfort Systems USA were worth $25,412,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH bought a new stake in Comfort Systems USA during the fourth quarter worth approximately $467,000. Royal Bank of Canada increased its stake in Comfort Systems USA by 23.0% during the fourth quarter. Royal Bank of Canada now owns 117,366 shares of the construction company’s stock worth $109,536,000 after acquiring an additional 21,941 shares during the last quarter. Graham Capital Management L.P. increased its stake in Comfort Systems USA by 50.3% during the fourth quarter. Graham Capital Management L.P. now owns 5,277 shares of the construction company’s stock worth $4,925,000 after acquiring an additional 1,766 shares during the last quarter. Polar Capital Holdings Plc bought a new stake in Comfort Systems USA during the fourth quarter worth approximately $23,542,000. Finally, Rothschild Wealth LLC bought a new stake in Comfort Systems USA during the fourth quarter worth approximately $689,000. 96.51% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Rhoman J. Hardy sold 342 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the completion of the sale, the director owned 1,890 shares in the company, valued at approximately $3,591,151.20. This represents a 15.32% decrease in their position. The sale 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 stock in a transaction on Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total value 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,078 shares of company stock worth $46,651,175. Company insiders own 1.24% of the company’s stock.

Comfort Systems USA Stock Down 1.8%

Shares of NYSE:FIX opened at $1,917.26 on Wednesday. Comfort Systems USA, Inc. has a 52-week low of $489.98 and a 52-week high of $2,073.99. The stock has a market cap of $67.49 billion, a P/E ratio of 55.32 and a beta of 1.65. The business’s 50 day moving average is $1,802.15 and its 200 day moving average is $1,403.19. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01.

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

Comfort Systems USA Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Friday, May 15th. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s dividend payout ratio (DPR) is currently 9.23%.

Analyst Ratings Changes

FIX has been the topic of several analyst reports. UBS Group boosted their price objective on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Stifel Nicolaus upped their target price on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Oppenheimer started coverage on Comfort Systems USA in a research note on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 target price on the stock. Finally, Glj Research started coverage on Comfort Systems USA in a research note on Monday, April 20th. They set a “buy” rating and a $2,001.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Comfort Systems USA has a consensus rating of “Buy” and a consensus target price of $1,991.50.

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.