New Mexico Educational Retirement Board Trims Holdings in Comfort Systems USA, Inc. $FIX

New Mexico Educational Retirement Board cut its stake in Comfort Systems USA, Inc. (NYSE:FIX) by 78.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,600 shares of the construction company’s stock after selling 5,800 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Comfort Systems USA were worth $1,493,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FIX. Vanguard Group Inc. grew its position in shares of Comfort Systems USA by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock valued at $4,022,597,000 after purchasing an additional 625,567 shares in the last quarter. Norges Bank purchased a new position in shares of Comfort Systems USA in the fourth quarter valued at $469,606,000. Geode Capital Management LLC grew its position in shares of Comfort Systems USA by 39.0% in the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company’s stock valued at $1,103,453,000 after purchasing an additional 332,441 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Comfort Systems USA by 37,987.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company’s stock worth $289,349,000 after buying an additional 309,217 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Comfort Systems USA by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company’s stock worth $606,117,000 after buying an additional 197,613 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FIX shares. UBS Group boosted their target price on Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Zacks Research upgraded Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 25th. Glj Research started coverage on Comfort Systems USA in a research report on Monday, April 20th. They set a “buy” rating and a $2,001.00 target price for the company. DA Davidson boosted their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Finally, Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $1,969.33.

Comfort Systems USA Trading Up 5.5%

Shares of FIX stock opened at $1,885.87 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $1,699.15 and a two-hundred day moving average price of $1,330.69. Comfort Systems USA, Inc. has a 12-month low of $469.16 and a 12-month high of $2,073.99. The firm has a market cap of $66.38 billion, a P/E ratio of 54.41 and a beta of 1.65.

Comfort Systems USA (NYSE:FIX) last released its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the company posted $4.75 EPS. Comfort Systems USA’s revenue for the quarter was up 56.5% on a year-over-year basis. Equities analysts anticipate that Comfort Systems USA, Inc. will post 43.38 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were paid a $0.80 dividend. 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 payout ratio is presently 9.23%.

Insider Buying and Selling

In related news, Director William J. Sandbrook sold 1,500 shares of Comfort Systems USA stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total value of $2,599,005.00. Following the transaction, the director directly owned 7,666 shares of the company’s stock, valued at $13,282,648.22. The trade was a 16.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Franklin Myers sold 4,500 shares of Comfort Systems USA stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $1,902.57, for a total transaction of $8,561,565.00. Following the completion of the transaction, the director directly owned 68,983 shares in the company, valued at approximately $131,244,986.31. The trade was a 6.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 24,078 shares of company stock valued at $46,651,175 over the last quarter. Company insiders own 1.24% of the company’s stock.

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.