Verition Fund Management LLC Lowers Stock Position in Comfort Systems USA, Inc. (NYSE:FIX)

Verition Fund Management LLC trimmed its position in Comfort Systems USA, Inc. (NYSE:FIX) by 65.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,793 shares of the construction company’s stock after selling 7,281 shares during the quarter. Verition Fund Management LLC’s holdings in Comfort Systems USA were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in shares of Comfort Systems USA in the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Comfort Systems USA in the 3rd quarter worth $38,000. V Square Quantitative Management LLC increased its stake in Comfort Systems USA by 59.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 126 shares of the construction company’s stock worth $49,000 after buying an additional 47 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Comfort Systems USA in the 2nd quarter worth $41,000. Finally, Contravisory Investment Management Inc. raised its holdings in Comfort Systems USA by 126.9% during the third quarter. Contravisory Investment Management Inc. now owns 152 shares of the construction company’s stock valued at $59,000 after acquiring an additional 85 shares during the period. Institutional investors own 96.51% of the company’s stock.

Comfort Systems USA Price Performance

Shares of Comfort Systems USA stock opened at $496.70 on Friday. The firm has a market cap of $17.68 billion, a PE ratio of 38.00 and a beta of 1.18. The stock has a 50 day moving average of $436.69 and a 200 day moving average of $364.61. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. Comfort Systems USA, Inc. has a 12 month low of $186.56 and a 12 month high of $510.79.

Comfort Systems USA (NYSE:FIX) last posted its earnings results on Thursday, October 24th. The construction company reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.97 by $0.12. Comfort Systems USA had a return on equity of 32.74% and a net margin of 7.18%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company earned $2.74 EPS. The company’s quarterly revenue was up 31.5% compared to the same quarter last year. On average, research analysts expect that Comfort Systems USA, Inc. will post 13.95 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Thursday, November 14th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.28%. Comfort Systems USA’s payout ratio is 10.71%.

Analysts Set New Price Targets

FIX has been the subject of several research analyst reports. UBS Group upgraded Comfort Systems USA from a “neutral” rating to a “buy” rating and increased their target price for the stock from $396.00 to $525.00 in a research report on Tuesday, November 19th. StockNews.com upgraded Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Stifel Nicolaus started coverage on shares of Comfort Systems USA in a research report on Friday, November 15th. They set a “buy” rating and a $524.00 price objective on the stock. Finally, Northcoast Research began coverage on shares of Comfort Systems USA in a research report on Friday, November 22nd. They set a “buy” rating and a $525.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $481.00.

Insider Activity

In other news, insider Brian E. Lane sold 15,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $448.88, for a total value of $6,733,200.00. Following the sale, the insider now owns 204,205 shares of the company’s stock, valued at approximately $91,663,540.40. This represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vance W. Tang sold 2,700 shares of Comfort Systems USA stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $390.00, for a total transaction of $1,053,000.00. Following the transaction, the director now directly owns 5,498 shares of the company’s stock, valued at approximately $2,144,220. This represents a 32.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,200 shares of company stock worth $15,431,250. 1.80% of the stock is currently owned by corporate insiders.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.