Penobscot Investment Management Company Inc. Sells 678 Shares of Comfort Systems USA, Inc. $FIX

Penobscot Investment Management Company Inc. cut its stake in shares of Comfort Systems USA, Inc. (NYSE:FIX) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,155 shares of the construction company’s stock after selling 678 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Comfort Systems USA were worth $5,744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caerus Investment Advisors LLC bought a new position in shares of Comfort Systems USA during the third quarter valued at $767,000. Spire Wealth Management increased its holdings in shares of Comfort Systems USA by 658.1% during the fourth quarter. Spire Wealth Management now owns 5,390 shares of the construction company’s stock valued at $5,031,000 after acquiring an additional 4,679 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Comfort Systems USA by 50.1% during the third quarter. Private Advisor Group LLC now owns 7,781 shares of the construction company’s stock valued at $6,420,000 after acquiring an additional 2,598 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Comfort Systems USA by 3,378.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 84,731 shares of the construction company’s stock valued at $79,079,000 after acquiring an additional 82,295 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Comfort Systems USA by 19.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,277 shares of the construction company’s stock valued at $12,474,000 after acquiring an additional 2,461 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FIX. Zacks Research upgraded Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a report on Monday. DA Davidson lifted their price objective on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. UBS Group reiterated a “buy” rating and issued a $1,310.00 price objective on shares of Comfort Systems USA in a report on Monday, February 2nd. Finally, Glj Research started coverage on Comfort Systems USA in a report on Monday. They issued a “buy” rating and a $2,001.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $1,732.50.

Comfort Systems USA Price Performance

NYSE FIX opened at $1,674.88 on Wednesday. Comfort Systems USA, Inc. has a one year low of $333.60 and a one year high of $1,719.00. The stock has a 50-day moving average of $1,438.47 and a 200 day moving average of $1,145.55. The company has a market capitalization of $58.93 billion, a price-to-earnings ratio of 57.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.19 and a current ratio of 1.21.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings data on Thursday, February 19th. The construction company reported $9.37 EPS for the quarter, topping the consensus estimate of $6.75 by $2.62. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the company earned $4.09 EPS. Comfort Systems USA’s revenue for the quarter was up 41.7% on a year-over-year basis. On average, sell-side analysts forecast that Comfort Systems USA, Inc. will post 37.06 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Friday, March 6th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 6th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 0.2%. Comfort Systems USA’s payout ratio is 9.69%.

Insiders Place Their Bets

In other Comfort Systems USA news, Director William J. Sandbrook sold 2,500 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 9,166 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO William George III sold 9,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 37,824 shares in the company, valued at $54,276,305.28. The trade was a 19.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 37,288 shares of company stock valued at $53,677,038. 1.59% of the stock is currently owned by company 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.