Whittier Trust Co. Purchases New Position in Comfort Systems USA, Inc. $FIX

Whittier Trust Co. acquired a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,458 shares of the construction company’s stock, valued at approximately $12,130,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Comfort Systems USA by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock worth $4,022,597,000 after purchasing an additional 625,567 shares during the period. State Street Corp grew its holdings in shares of Comfort Systems USA by 35.6% in the 4th quarter. State Street Corp now owns 1,428,674 shares of the construction company’s stock valued at $1,333,367,000 after buying an additional 375,118 shares during the period. Geode Capital Management LLC grew its holdings in shares of Comfort Systems USA by 39.0% in the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company’s stock valued at $1,103,453,000 after buying an additional 332,441 shares during the period. Invesco Ltd. increased its position in shares of Comfort Systems USA by 7.4% in the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company’s stock valued at $878,454,000 after buying an additional 73,727 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Comfort Systems USA by 22.1% in the 4th quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company’s stock valued at $951,883,000 after buying an additional 184,362 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on FIX shares. KeyCorp upgraded Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 target price on the stock in a report on Friday, April 24th. Stifel Nicolaus increased their price target on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. UBS Group raised their price target on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Oppenheimer began coverage on Comfort Systems USA in a report on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 price objective on the stock. Finally, Erste Group Bank began coverage on Comfort Systems USA in a research report on Friday, June 5th. They issued a “buy” rating for the company. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,991.50.

Comfort Systems USA Stock Down 9.0%

FIX traded down $160.58 during trading hours on Tuesday, hitting $1,632.45. 163,347 shares of the company’s stock were exchanged, compared to its average volume of 442,952. Comfort Systems USA, Inc. has a 1-year low of $513.99 and a 1-year high of $2,073.99. The stock’s 50-day moving average is $1,884.97 and its two-hundred day moving average is $1,494.99. The stock has a market cap of $57.46 billion, a price-to-earnings ratio of 47.14 and a beta of 1.66. 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 results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the business earned $4.75 EPS. The company’s revenue was up 56.5% compared to the same quarter last year. Sell-side analysts predict that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

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

Insider Buying and Selling

In related news, CFO William George III sold 4,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,948.17, for a total transaction of $7,792,680.00. Following the sale, the chief financial officer owned 33,804 shares in the company, valued at approximately $65,855,938.68. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Franklin Myers sold 6,700 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the transaction, the director directly owned 62,115 shares of the company’s stock, valued at $121,401,904.05. This trade represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,778 shares of company stock worth $59,746,124 over the last three months. Company insiders own 1.24% of the company’s stock.

About Comfort Systems USA

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.