Lyell Wealth Management LP Makes New Investment in Comfort Systems USA, Inc. $FIX

Lyell Wealth Management LP purchased a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,925 shares of the construction company’s stock, valued at approximately $6,492,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FIX. Jones Financial Companies Lllp purchased a new position in Comfort Systems USA during the 2nd quarter worth $26,000. Avalon Trust Co purchased a new stake in Comfort Systems USA in the second quarter valued at about $32,000. Field & Main Bank purchased a new stake in Comfort Systems USA in the second quarter valued at about $32,000. Carolina Wealth Advisors LLC raised its stake in Comfort Systems USA by 63.6% in the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock valued at $36,000 after buying an additional 7 shares during the last quarter. Finally, Glynn Capital Management LLC raised its stake in Comfort Systems USA by 58.3% in the third quarter. Glynn Capital Management LLC now owns 19 shares of the construction company’s stock valued at $31,000 after buying an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings downgraded Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Stifel Nicolaus set a $1,808.00 price objective on shares of Comfort Systems USA in a report on Monday, October 26th. DA Davidson set a $1,850.00 price objective on shares of Comfort Systems USA in a research report on Monday, October 26th. Oppenheimer decreased their price objective on shares of Comfort Systems USA from $2,400.00 to $2,000.00 and set an “outperform” rating for the company in a research report on Monday, October 26th. Finally, Erste Group Bank cut shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Comfort Systems USA presently has an average rating of “Moderate Buy” and a consensus target price of $1,916.14.

Comfort Systems USA Stock Up 7.0%

Shares of FIX opened at $1,284.52 on Wednesday. Comfort Systems USA, Inc. has a 52 week low of $841.66 and a 52 week high of $2,073.99. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $44.95 billion, a price-to-earnings ratio of 25.91 and a beta of 1.64. The stock’s 50-day moving average price is $1,545.56 and its 200-day moving average price is $1,598.92.

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

Comfort Systems USA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, November 12th will be given a $0.10 dividend. The ex-dividend date is Thursday, November 12th. This represents a $0.40 annualized dividend and a yield of 0.0%. This is a drop from Comfort Systems USA’s previous quarterly dividend of $0.90. Comfort Systems USA’s payout ratio is currently 7.77%.

Insiders Place Their Bets

In other news, insider Brian E. Lane sold 16,024 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the completion of the transaction, the insider directly owned 145,065 shares of the company’s stock, valued at $233,294,983.65. The trade was a 9.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William George, III sold 2,554 shares of Comfort Systems USA stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the transaction, the chief financial officer directly owned 30,250 shares of the company’s stock, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,078 shares of company stock worth $43,211,828. Corporate insiders own 1.24% of the company’s stock.

Comfort Systems USA Company Profile

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.