Pinnacle Associates Ltd. Makes New Investment in Comfort Systems USA, Inc. $FIX

Pinnacle Associates Ltd. acquired a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 564 shares of the construction company’s stock, valued at approximately $526,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FIX. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Comfort Systems USA in the fourth quarter valued at approximately $5,247,000. Atria Investments Inc grew its position in Comfort Systems USA by 3.8% in the fourth quarter. Atria Investments Inc now owns 4,585 shares of the construction company’s stock valued at $4,279,000 after acquiring an additional 167 shares in the last quarter. Mainsail Asset Management LLC acquired a new stake in Comfort Systems USA in the fourth quarter valued at approximately $261,000. Stonebridge Financial Group LLC MO acquired a new stake in Comfort Systems USA in the fourth quarter valued at approximately $369,000. Finally, Independent Advisor Alliance grew its position in Comfort Systems USA by 1.5% in the fourth quarter. Independent Advisor Alliance now owns 6,064 shares of the construction company’s stock valued at $5,659,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Comfort Systems USA Trading Down 7.1%

FIX opened at $1,851.78 on Tuesday. The stock has a market capitalization of $65.18 billion, a PE ratio of 53.43 and a beta of 1.70. The firm’s fifty day moving average price is $1,609.19 and its 200 day moving average price is $1,269.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. Comfort Systems USA, Inc. has a 12-month low of $452.04 and a 12-month high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.81 by $3.70. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The firm’s quarterly revenue was up 56.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.75 earnings per share. As a group, research analysts expect that Comfort Systems USA, Inc. will post 43.17 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 15th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s dividend payout ratio is currently 9.23%.

Wall Street Analyst Weigh In

Several analysts have issued reports on FIX shares. DA Davidson increased their price objective on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. KeyCorp upgraded shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price objective on the stock in a report on Friday, April 24th. Zacks Research lowered shares of Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Glj Research began coverage on shares of Comfort Systems USA in a report on Monday, April 20th. They issued a “buy” rating and a $2,001.00 price objective on the stock. Finally, UBS Group raised their price objective on Comfort Systems USA from $1,680.00 to $1,992.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Comfort Systems USA presently has a consensus rating of “Moderate Buy” and an average price target of $1,923.20.

Insider Buying and Selling at Comfort Systems USA

In other news, Director Pablo G. Mercado sold 500 shares of Comfort Systems USA stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $1,779.78, for a total value of $889,890.00. Following the completion of the transaction, the director directly owned 3,000 shares of the company’s stock, valued at approximately $5,339,340. The trade was a 14.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO William George III sold 1,000 shares of Comfort Systems USA stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the completion of the transaction, the chief financial officer directly owned 32,804 shares of the company’s stock, valued at $66,295,571.84. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 61,024 shares of company stock worth $99,678,386. 1.24% of the stock is owned by insiders.

Comfort Systems USA Company 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.