Fred Alger Management LLC Sells 8,189 Shares of Comfort Systems USA, Inc. $FIX

Fred Alger Management LLC cut its position in Comfort Systems USA, Inc. (NYSE:FIX) by 19.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. 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 owned 0.10% of Comfort Systems USA worth $28,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Belpointe Asset Management LLC lifted its holdings in shares of Comfort Systems USA by 1.0% in the third quarter. Belpointe Asset Management LLC now owns 1,256 shares of the construction company’s stock worth $1,036,000 after acquiring an additional 13 shares during the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Comfort Systems USA by 0.9% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,478 shares of the construction company’s stock valued at $1,220,000 after purchasing an additional 13 shares during the last quarter. Ameriflex Group Inc. increased its position in Comfort Systems USA by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company’s stock worth $25,000 after purchasing an additional 15 shares in the last quarter. Wedmont Private Capital increased its position in Comfort Systems USA by 3.8% during the 3rd quarter. Wedmont Private Capital now owns 497 shares of the construction company’s stock worth $406,000 after purchasing an additional 18 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in Comfort Systems USA by 2.2% in the 3rd quarter. Ballentine Partners LLC now owns 898 shares of the construction company’s stock valued at $741,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

Insider Transactions at Comfort Systems USA

In related news, insider Brian E. Lane sold 9,365 shares of Comfort Systems USA stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $1,453.12, for a total transaction of $13,608,468.80. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Darcy Anderson sold 4,500 shares of the business’s stock in a transaction 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 in the company, valued at approximately $24,703,260.90. The trade was a 19.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 37,288 shares of company stock worth $53,677,038. Company insiders own 1.59% of the company’s stock.

Comfort Systems USA Trading Down 0.5%

NYSE FIX 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 business’s 50-day moving average price is $1,241.96 and its two-hundred day moving average price is $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 issued its quarterly earnings data on Thursday, February 19th. The construction company reported $9.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $2.62. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.34 billion. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.The firm’s revenue was up 41.7% compared to the same quarter last year. During the same period last year, the company earned $4.09 earnings per share. On average, analysts expect that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, March 6th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.60. Comfort Systems USA’s dividend payout ratio (DPR) is 9.69%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FIX shares. Stifel Nicolaus set a $1,611.00 price target on Comfort Systems USA in a research note on Monday, February 23rd. UBS Group restated 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a research report on Wednesday, January 21st. DA Davidson lifted 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 note on Monday, February 23rd. Finally, Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $1,573.67.

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.