Oppenheimer & Co. Inc. Sells 677 Shares of Comfort Systems USA, Inc. $FIX

Oppenheimer & Co. Inc. reduced its stake in Comfort Systems USA, Inc. (NYSE:FIX) by 55.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 534 shares of the construction company’s stock after selling 677 shares during the period. Oppenheimer & Co. Inc.’s holdings in Comfort Systems USA were worth $883,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Comfort Systems USA during the second quarter valued at about $6,734,037,000. Deutsche Bank AG purchased a new stake in shares of Comfort Systems USA in the second quarter worth about $443,751,000. Legal & General Group Plc purchased a new stake in shares of Comfort Systems USA in the second quarter worth about $400,096,000. Bank of New York Mellon Corp purchased a new stake in shares of Comfort Systems USA in the second quarter worth about $370,479,000. Finally, Amundi lifted its position in shares of Comfort Systems USA by 114.1% in the second quarter. Amundi now owns 292,904 shares of the construction company’s stock worth $580,521,000 after buying an additional 156,069 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FIX. The Goldman Sachs Group set a $1,875.00 price target on Comfort Systems USA in a report on Tuesday, October 20th. Erste Group Bank cut Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. KeyCorp decreased their price objective on Comfort Systems USA from $2,125.00 to $1,979.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Zacks Research downgraded Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, DA Davidson set a $1,850.00 target price on shares of Comfort Systems USA in a report on Monday, October 26th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,916.14.

Comfort Systems USA Trading Up 7.0%

FIX stock opened at $1,284.52 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a twelve month low of $841.66 and a twelve month high of $2,073.99. The stock has a market capitalization of $44.95 billion, a price-to-earnings ratio of 27.73 and a beta of 1.64. The firm’s fifty day simple moving average is $1,545.56 and its two-hundred day simple moving average is $1,598.92.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings data on Thursday, October 22nd. The construction company reported $13.91 earnings per share for the quarter, topping analysts’ consensus estimates of $12.85 by $1.06. Comfort Systems USA had a net margin of 13.01% and a return on equity of 55.24%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the company posted $8.25 EPS. The firm’s revenue for the quarter was up 53.7% on a year-over-year basis. As a group, analysts anticipate that Comfort Systems USA, Inc. will post 50.32 earnings per share for the current year.

Comfort Systems USA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.10 per share. This is a decrease from Comfort Systems USA’s previous quarterly dividend of $0.90. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 12th. Comfort Systems USA’s payout ratio is presently 7.77%.

Insider Transactions at Comfort Systems USA

In other news, Director Franklin Myers sold 4,000 shares of Comfort Systems USA stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the sale, the director owned 8,495 shares of the company’s stock, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William George, III sold 2,554 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the transaction, the chief financial officer directly owned 30,250 shares in the company, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 26,078 shares of company stock worth $43,211,828. Insiders own 1.24% of the company’s stock.

About Comfort Systems USA

Comfort Systems USA, Inc (NYSE:FIX) is a provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. The company designs, installs, maintains, repairs, and replaces heating, ventilation, air conditioning, and temperature-control systems, as well as plumbing, piping, electrical, and related building systems.

Its services support new construction, building renovations, facility upgrades, and ongoing maintenance. Comfort Systems USA also provides specialized services for data centers, manufacturing facilities, healthcare buildings, educational institutions, and other complex commercial and industrial projects.

Founded in 1997 and headquartered in Houston, Texas, the company operates through a network of regional contracting businesses serving customers across the United States.