PNC Financial Services Group Inc. Reduces Holdings in Comfort Systems USA, Inc. (NYSE:FIX)

PNC Financial Services Group Inc. lowered its stake in Comfort Systems USA, Inc. (NYSE:FIX) by 11.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,436 shares of the construction company’s stock after selling 991 shares during the period. PNC Financial Services Group Inc.’s holdings in Comfort Systems USA were worth $1,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FIX. Diversified Trust Co boosted its holdings in shares of Comfort Systems USA by 2.0% in the 3rd quarter. Diversified Trust Co now owns 5,575 shares of the construction company’s stock valued at $950,000 after buying an additional 109 shares during the period. Byrne Asset Management LLC acquired a new position in shares of Comfort Systems USA in the 4th quarter valued at about $26,000. Alliance Wealth Advisors LLC UT boosted its holdings in shares of Comfort Systems USA by 3.2% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,714 shares of the construction company’s stock valued at $969,000 after buying an additional 145 shares during the period. Dfpg Investments LLC boosted its holdings in shares of Comfort Systems USA by 8.7% in the 4th quarter. Dfpg Investments LLC now owns 2,500 shares of the construction company’s stock valued at $490,000 after buying an additional 200 shares during the period. Finally, Scotia Capital Inc. boosted its holdings in shares of Comfort Systems USA by 14.1% in the 3rd quarter. Scotia Capital Inc. now owns 1,969 shares of the construction company’s stock valued at $336,000 after buying an additional 244 shares during the period. Institutional investors own 96.51% of the company’s stock.

Comfort Systems USA Stock Down 1.9 %

NYSE FIX opened at $316.36 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.96 and a quick ratio of 0.92. The company’s 50 day simple moving average is $319.64 and its 200 day simple moving average is $274.37. Comfort Systems USA, Inc. has a 12 month low of $151.89 and a 12 month high of $352.45. The company has a market capitalization of $11.30 billion, a P/E ratio of 31.32 and a beta of 1.16.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings results on Thursday, April 25th. The construction company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.43. Comfort Systems USA had a net margin of 6.51% and a return on equity of 28.65%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business earned $1.51 earnings per share. The firm’s revenue was up 30.8% compared to the same quarter last year. Equities research analysts expect that Comfort Systems USA, Inc. will post 11.9 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 Friday, May 24th. Investors of record on Monday, May 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. Comfort Systems USA’s payout ratio is presently 11.88%.

Insider Activity at Comfort Systems USA

In related news, Director Vance W. Tang sold 988 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $343.00, for a total transaction of $338,884.00. Following the transaction, the director now directly owns 11,173 shares of the company’s stock, valued at $3,832,339. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Darcy Anderson sold 3,500 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $344.90, for a total transaction of $1,207,150.00. Following the transaction, the director now owns 40,241 shares in the company, valued at approximately $13,879,120.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Vance W. Tang sold 988 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $343.00, for a total transaction of $338,884.00. Following the transaction, the director now owns 11,173 shares in the company, valued at approximately $3,832,339. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,961 shares of company stock valued at $2,622,664. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. DA Davidson lifted their price target on shares of Comfort Systems USA from $200.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. StockNews.com raised shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Wednesday.

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.