PNC Financial Services Group Inc. Raises Stock Position in Comfort Systems USA, Inc. $FIX

PNC Financial Services Group Inc. lifted its holdings in Comfort Systems USA, Inc. (NYSE:FIX) by 10.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,072 shares of the construction company’s stock after buying an additional 383 shares during the period. PNC Financial Services Group Inc.’s holdings in Comfort Systems USA were worth $5,615,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Core Wealth Advisors LLC purchased a new stake in Comfort Systems USA during the fourth quarter valued at approximately $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Comfort Systems USA in the 4th quarter valued at approximately $33,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Comfort Systems USA by 29.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company’s stock worth $37,000 after purchasing an additional 9 shares during the period. JFS Wealth Advisors LLC boosted its holdings in shares of Comfort Systems USA by 29.4% in 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 valued at $41,000 after purchasing an additional 17 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FIX has been the topic of several recent research reports. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Glj Research initiated coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They set a “buy” rating and a $2,001.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a research report on Friday, July 17th. The Goldman Sachs Group assumed coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 target price on the stock. Finally, Oppenheimer initiated coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Comfort Systems USA presently has an average rating of “Moderate Buy” and a consensus price target of $2,057.86.

Comfort Systems USA Trading Down 0.3%

FIX opened at $1,728.50 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. The stock’s 50 day moving average price is $1,833.30 and its 200-day moving average price is $1,577.34. Comfort Systems USA, Inc. has a one year low of $655.96 and a one year high of $2,073.99. The stock has a market cap of $60.83 billion, a price-to-earnings ratio of 42.51 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.45 by $2.08. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the company earned $6.53 EPS. Comfort Systems USA’s quarterly revenue was up 50.3% compared to the same quarter last year. On average, equities analysts forecast that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Thursday, August 13th will be paid a $0.90 dividend. The ex-dividend date is Thursday, August 13th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA’s payout ratio is 7.87%.

Insiders Place Their Bets

In other news, Director Rhoman J. Hardy sold 342 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total value of $649,827.36. Following the transaction, the director directly owned 1,890 shares in the company, valued at approximately $3,591,151.20. This represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian E. Lane sold 11,113 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the completion of the transaction, the insider owned 161,089 shares in the company, valued at approximately $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 30,778 shares of company stock valued at $59,746,124. Insiders own 1.24% of the company’s stock.

Comfort Systems USA Profile

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.