Lord Abbett & CO. LLC Decreases Stock Position in Comfort Systems USA, Inc. (NYSE:FIX)

Lord Abbett & CO. LLC decreased its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 24.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 180,202 shares of the construction company's stock after selling 59,812 shares during the quarter. Lord Abbett & CO. LLC owned 0.51% of Comfort Systems USA worth $70,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Comfort Systems USA by 0.6% in the 3rd quarter. State Street Corp now owns 1,055,561 shares of the construction company's stock valued at $412,038,000 after purchasing an additional 6,496 shares in the last quarter. Geode Capital Management LLC increased its holdings in Comfort Systems USA by 6.8% in the third quarter. Geode Capital Management LLC now owns 748,128 shares of the construction company's stock valued at $292,093,000 after buying an additional 47,929 shares during the last quarter. Federated Hermes Inc. raised its stake in Comfort Systems USA by 2.1% in the second quarter. Federated Hermes Inc. now owns 415,825 shares of the construction company's stock valued at $126,461,000 after buying an additional 8,578 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Comfort Systems USA during the 3rd quarter worth about $138,987,000. Finally, Millennium Management LLC boosted its position in shares of Comfort Systems USA by 477.9% during the 2nd quarter. Millennium Management LLC now owns 342,724 shares of the construction company's stock worth $104,229,000 after acquiring an additional 283,416 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Insider Activity

In other news, Director Pablo G. Mercado sold 2,500 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $409.46, for a total transaction of $1,023,650.00. Following the completion of the sale, the director now directly owns 9,036 shares of the company's stock, valued at $3,699,880.56. The trade was a 21.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian E. Lane sold 15,000 shares of Comfort Systems USA 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 completion of the transaction, the insider now owns 204,205 shares in the company, valued at $91,663,540.40. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,200 shares of company stock worth $15,431,250 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FIX has been the subject of several recent analyst reports. Stifel Nicolaus began coverage on Comfort Systems USA in a research note on Friday, November 15th. They set a "buy" rating and a $524.00 target price for the company. Northcoast Research started coverage on shares of Comfort Systems USA in a report on Friday, November 22nd. They issued a "buy" rating and a $525.00 target price for the company. StockNews.com upgraded shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, October 12th. Finally, UBS Group upped their price objective on shares of Comfort Systems USA from $525.00 to $575.00 and gave the company a "buy" rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $493.50.

Comfort Systems USA Stock Performance

Shares of FIX stock traded down $6.73 during midday trading on Friday, hitting $462.33. The company had a trading volume of 285,943 shares, compared to its average volume of 377,905. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.02. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 35.37 and a beta of 1.18. The company's 50 day simple moving average is $443.70 and its 200 day simple moving average is $369.36. Comfort Systems USA, Inc. has a 52-week low of $194.30 and a 52-week high of $510.79.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, October 24th. The construction company reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.97 by $0.12. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Comfort Systems USA had a return on equity of 32.74% and a net margin of 7.18%. The company's revenue for the quarter was up 31.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.74 EPS. Research analysts anticipate that Comfort Systems USA, Inc. will post 13.95 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Thursday, November 14th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 0.30%. Comfort Systems USA's dividend payout ratio is currently 10.71%.

Comfort Systems USA 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.