Precision Wealth Strategies LLC Cuts Stake in Comfort Systems USA, Inc. $FIX

Precision Wealth Strategies LLC cut its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) by 53.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 664 shares of the construction company’s stock after selling 772 shares during the period. Precision Wealth Strategies LLC’s holdings in Comfort Systems USA were worth $916,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Core Wealth Advisors LLC bought a new position in Comfort Systems USA in the 4th quarter worth about $28,000. Kemnay Advisory Services Inc. purchased a new stake in Comfort Systems USA during the 4th quarter valued at about $33,000. Farmers & Merchants Investments Inc. increased its stake in Comfort Systems USA by 29.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company’s stock valued at $37,000 after purchasing an additional 9 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company’s stock valued at $41,000 after purchasing an additional 10 shares in the last quarter. Finally, ORG Partners LLC increased its stake in Comfort Systems USA by 63.0% during the 4th quarter. ORG Partners LLC now owns 44 shares of the construction company’s stock valued at $41,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer started coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 target price on the stock. Zacks Research downgraded shares of Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. KeyCorp upgraded shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price objective for the company in a report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Finally, Stifel Nicolaus upped their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,015.43.

Insider Activity

In related news, CFO William George III sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,948.17, for a total value 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 trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the completion of the sale, the director directly owned 62,115 shares of the company’s stock, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,778 shares of company stock valued at $59,746,124 over the last three months. Corporate insiders own 1.24% of the company’s stock.

Comfort Systems USA Price Performance

NYSE FIX opened at $1,667.28 on Friday. Comfort Systems USA, Inc. has a one year low of $513.99 and a one year high of $2,073.99. The stock has a 50-day moving average of $1,861.34 and a 200 day moving average of $1,540.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The company has a market capitalization of $58.69 billion, a price-to-earnings ratio of 48.10 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX) last posted its 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. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.75 EPS. On average, sell-side analysts forecast that Comfort Systems USA, Inc. will post 43.39 EPS for the current 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 dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA’s dividend payout ratio is presently 9.23%.

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.