Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in Comfort Systems USA, Inc. (NYSE:FIX)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 90.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,932 shares of the construction company's stock after selling 18,930 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Comfort Systems USA were worth $754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Entropy Technologies LP acquired a new stake in Comfort Systems USA in the 3rd quarter valued at $1,484,000. Cetera Advisors LLC bought a new position in shares of Comfort Systems USA in the 1st quarter valued at about $971,000. WCM Investment Management LLC increased its position in shares of Comfort Systems USA by 16.5% in the third quarter. WCM Investment Management LLC now owns 99,553 shares of the construction company's stock valued at $38,833,000 after acquiring an additional 14,090 shares during the last quarter. Schwartz Investment Counsel Inc. bought a new stake in Comfort Systems USA during the third quarter worth about $1,327,000. Finally, Atria Investments Inc acquired a new position in Comfort Systems USA during the first quarter valued at approximately $1,192,000. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Up 1.4 %

Shares of FIX traded up $6.62 during mid-day trading on Friday, reaching $493.27. 167,318 shares of the company were exchanged, compared to its average volume of 382,559. The business has a 50 day simple moving average of $424.04 and a two-hundred day simple moving average of $357.60. Comfort Systems USA, Inc. has a 52 week low of $185.83 and a 52 week high of $510.79. The stock has a market capitalization of $17.56 billion, a PE ratio of 37.74 and a beta of 1.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.04.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data 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 net margin of 7.18% and a return on equity of 32.74%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm posted $2.74 EPS. The company's quarterly revenue was up 31.5% on a year-over-year basis. On average, analysts predict that Comfort Systems USA, Inc. will post 13.95 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Thursday, November 14th were paid a $0.35 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.40 annualized dividend and a dividend yield of 0.28%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.30. Comfort Systems USA's payout ratio is currently 10.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FIX. UBS Group upgraded Comfort Systems USA from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $396.00 to $525.00 in a research note on Tuesday, November 19th. 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 target on the stock. StockNews.com raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Finally, Northcoast Research began 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 on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $481.00.

Insider Activity at Comfort Systems USA

In related news, Director Vance W. Tang sold 2,700 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $390.00, for a total value of $1,053,000.00. Following the transaction, the director now directly owns 5,498 shares in the company, valued at $2,144,220. This trade represents a 32.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO T Mckenna Trent sold 4,000 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $484.81, for a total transaction of $1,939,240.00. Following the transaction, the chief operating officer now owns 23,990 shares in the company, valued at approximately $11,630,591.90. The trade was a 14.29 % 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 in the last quarter. Company insiders own 1.80% of the company's stock.

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.