Truist Financial Corp Trims Stock Position in Comfort Systems USA, Inc. $FIX

Truist Financial Corp cut its holdings in Comfort Systems USA, Inc. (NYSE:FIX) by 22.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,126 shares of the construction company’s stock after selling 7,431 shares during the period. Truist Financial Corp’s holdings in Comfort Systems USA were worth $23,450,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new stake in Comfort Systems USA during the third quarter worth $25,000. Ameriflex Group Inc. lifted its stake in shares of Comfort Systems USA by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company’s stock valued at $25,000 after purchasing an additional 15 shares during the last quarter. Eastern Bank purchased a new position in shares of Comfort Systems USA during the 3rd quarter worth $31,000. JFS Wealth Advisors LLC grew its holdings in shares of Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company’s stock worth $41,000 after purchasing an additional 10 shares during the period. Finally, ORG Partners LLC increased its position in shares of Comfort Systems USA by 63.0% during the 4th quarter. ORG Partners LLC now owns 44 shares of the construction company’s stock worth $41,000 after purchasing an additional 17 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Stock Performance

NYSE FIX opened at $2,010.22 on Thursday. The company has a market cap of $70.76 billion, a P/E ratio of 58.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a 50-day moving average of $1,519.76 and a two-hundred day moving average of $1,207.50. Comfort Systems USA, Inc. has a 1-year low of $422.53 and a 1-year high of $2,018.05.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the company earned $4.75 earnings per share. The business’s quarterly revenue was up 56.5% on a year-over-year basis. As a group, analysts anticipate that Comfort Systems USA, Inc. will post 43.42 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.20 annualized dividend and a yield of 0.2%. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s dividend payout ratio is 8.08%.

Wall Street Analyst Weigh In

A number of research analysts have commented on FIX shares. Wall Street Zen raised shares of Comfort Systems USA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. UBS Group boosted their price target on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the company a “buy” rating in a research note on Monday, April 27th. KeyCorp upgraded shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price objective on the stock in a report on Friday, April 24th. Stifel Nicolaus increased their price objective on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Glj Research started coverage on shares of Comfort Systems USA in a report on Monday, April 20th. They issued a “buy” rating and a $2,001.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Comfort Systems USA has an average rating of “Moderate Buy” and an average target price of $1,923.20.

Insider Buying and Selling

In other news, Director William J. Sandbrook sold 2,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $1,443.32, for a total value of $3,608,300.00. Following the sale, the director directly owned 9,166 shares in the company, valued at approximately $13,229,471.12. This trade represents a 21.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William George III sold 9,000 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $1,434.97, for a total value of $12,914,730.00. Following the transaction, the chief financial officer directly owned 37,824 shares of the company’s stock, valued at $54,276,305.28. The trade was a 19.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 50,401 shares of company stock worth $79,056,765 over the last three months. 1.24% of the stock is owned by insiders.

About Comfort Systems USA

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.