Fred Alger Management LLC Has $28.14 Million Stock Position in Comfort Systems USA, Inc. $FIX

Fred Alger Management LLC cut its holdings in Comfort Systems USA, Inc. (NYSE:FIX) by 19.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 34,106 shares of the construction company’s stock after selling 8,189 shares during the quarter. Fred Alger Management LLC’s holdings in Comfort Systems USA were worth $28,144,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. grew its position in shares of Comfort Systems USA by 7.4% during the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company’s stock worth $878,454,000 after buying an additional 73,727 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Comfort Systems USA by 5.3% during the 2nd quarter. Westfield Capital Management Co. LP now owns 936,412 shares of the construction company’s stock valued at $502,113,000 after acquiring an additional 46,773 shares during the period. AQR Capital Management LLC lifted its position in shares of Comfort Systems USA by 6.8% during the 3rd quarter. AQR Capital Management LLC now owns 835,560 shares of the construction company’s stock valued at $678,475,000 after acquiring an additional 53,125 shares during the period. Geode Capital Management LLC boosted its stake in Comfort Systems USA by 0.4% during the second quarter. Geode Capital Management LLC now owns 821,897 shares of the construction company’s stock worth $440,764,000 after acquiring an additional 3,032 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Comfort Systems USA by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company’s stock worth $606,117,000 after acquiring an additional 197,613 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director William J. Sandbrook sold 2,500 shares of the firm’s stock in a transaction dated 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 transaction, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian E. Lane sold 9,365 shares of Comfort Systems USA stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $1,453.12, for a total value of $13,608,468.80. Following the transaction, the insider owned 171,523 shares of the company’s stock, valued at $249,243,501.76. This trade represents a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,288 shares of company stock worth $53,677,038 in the last 90 days. Company insiders own 1.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FIX shares. Stifel Nicolaus set a $1,611.00 price target on shares of Comfort Systems USA in a research note on Monday, February 23rd. UBS Group reissued a “buy” rating and set a $1,310.00 price objective on shares of Comfort Systems USA in a research report on Monday, February 2nd. DA Davidson raised their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Zacks Research raised Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Wall Street Zen downgraded Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $1,573.67.

Comfort Systems USA Stock Performance

Shares of FIX stock opened at $1,366.39 on Monday. The firm has a market capitalization of $48.06 billion, a PE ratio of 47.28 and a beta of 1.62. The firm has a fifty day simple moving average of $1,241.96 and a two-hundred day simple moving average of $1,008.70. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.06. Comfort Systems USA, Inc. has a 12 month low of $276.44 and a 12 month high of $1,500.00.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings data on Thursday, February 19th. The construction company reported $9.37 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $2.62. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.34 billion. Comfort Systems USA had a net margin of 11.23% and a return on equity of 48.52%. The business’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period last year, the firm earned $4.09 earnings per share. Analysts forecast that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Friday, March 6th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.60. Comfort Systems USA’s dividend payout ratio (DPR) is currently 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.