Rhumbline Advisers has reduced its stake in Comfort Systems USA, Inc. (NYSE:FIX) by 1.4%, now holding shares valued at approximately $52.76 million following a recent filing with the Securities and Exchange Commission. The institutional investor owned 98,395 shares after selling 1,365 shares during the second quarter of 2023.
Other institutional players have also adjusted their holdings in Comfort Systems USA. Ameritas Advisory Services LLC initiated a new position in the company valued at around $27,000. Similarly, Stone House Investment Management LLC acquired shares worth approximately $31,000 in the first quarter. Tradewinds Capital Management LLC increased its holdings by 37.8% in the second quarter, now owning 113 shares valued at $61,000. Brooklyn Investment Group experienced a significant boost in holdings of 259.4% during the first quarter, increasing its total to 115 shares worth $37,000. Cullen Frost Bankers Inc. grew its position by 310.7% to own 115 shares valued at $62,000. Notably, institutional investors now hold approximately 96.51% of Comfort Systems USA’s stock.
Several analysts have recently provided insights on the company. Zacks Research upgraded Comfort Systems USA from a “hold” to a “strong-buy” rating on October 28, 2023. In contrast, Northcoast Research downgraded the stock from “buy” to “neutral” on July 28, 2023. Wall Street Zen also revised its rating from “strong-buy” to “buy.” UBS Group increased its price target for the stock from $875.00 to $1,140.00, maintaining a “buy” rating. As of now, Comfort Systems USA has one “strong buy” rating, six “buy” ratings, and one “hold” rating, resulting in a consensus rating of “buy” with an average price target of $892.75.
Shares of Comfort Systems USA opened at $946.06 on Tuesday, reflecting a 5.8% increase. The stock’s fifty-day simple moving average stands at $875.13, with a two-hundred-day average of $687.93. The firm boasts a market capitalization of $33.37 billion, a price-to-earnings ratio of 40.05, and a beta of 1.55. Over the past twelve months, the stock has experienced a low of $276.44 and a high of $1,020.26. Comfort Systems USA maintains a quick ratio of 1.20, a current ratio of 1.22, and a debt-to-equity ratio of 0.06.
The company recently announced its quarterly earnings on August 15, 2023, reporting an earnings per share (EPS) of $0.90 and revenue of $713.90 million. The return on equity stood at 43.59%, with a net margin of 10.06%. Analysts predict that Comfort Systems USA will achieve an EPS of 16.85 for the current year.
In addition to its financial performance, Comfort Systems USA declared a quarterly dividend of $0.60 per share, paid on November 24, 2023, to investors of record as of November 13, 2023. This dividend marks an increase from the previous quarterly payment of $0.50, resulting in an annualized dividend of $2.40 and a yield of 0.3%. The company’s payout ratio is currently 10.16%.
Amid these developments, insider transactions have drawn attention. Director Herman E. Bulls sold 2,000 shares on October 29, 2023, at an average price of $1,013.62, totaling $2,027,240.00. Following this transaction, Bulls owned 30,574 shares valued at approximately $30.99 million, reflecting a 6.14% decrease in ownership. Director Pablo G. Mercado also sold 2,500 shares on the same day for $2,513,525.00. After this sale, Mercado holds 4,000 shares valued at around $4.02 million, marking a 38.46% reduction in ownership. Over the last 90 days, insiders have sold a total of 15,000 shares worth $14,491,878, with insiders owning 1.59% of the company.
Comfort Systems USA, Inc. provides comprehensive mechanical and electrical installation, renovation, maintenance, repair, and replacement services throughout the United States. The company operates in two primary segments: Mechanical and Electrical, offering services that include heating, ventilation, air conditioning systems, plumbing, electrical work, and fire protection.
For further insights on Comfort Systems USA and associated institutional holdings, visit HoldingsChannel.com for the latest 13F filings and insider trades.
