Principal Financial Group Inc. Decreases Position in Comfort Systems USA, Inc. $FIX

Principal Financial Group Inc. cut its holdings in Comfort Systems USA, Inc. (NYSE:FIX) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,149 shares of the construction company’s stock after selling 1,940 shares during the period. Principal Financial Group Inc.’s holdings in Comfort Systems USA were worth $140,880,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Core Wealth Advisors LLC purchased a new position in shares of Comfort Systems USA in the fourth quarter worth about $28,000. Kemnay Advisory Services Inc. purchased a new stake in Comfort Systems USA during the 4th quarter valued at about $33,000. Farmers & Merchants Investments Inc. boosted its holdings in Comfort Systems USA by 29.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company’s stock valued at $37,000 after acquiring an additional 9 shares during the period. JFS Wealth Advisors LLC grew its position in Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company’s stock worth $41,000 after acquiring an additional 10 shares during the last quarter. Finally, ORG Partners LLC grew its position in Comfort Systems USA by 63.0% during the 4th quarter. ORG Partners LLC now owns 44 shares of the construction company’s stock worth $41,000 after acquiring an additional 17 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Trading Down 2.2%

FIX opened at $1,736.17 on Thursday. The business has a 50 day simple moving average of $1,872.16 and a two-hundred day simple moving average of $1,534.24. The firm has a market capitalization of $61.11 billion, a price-to-earnings ratio of 50.09 and a beta of 1.66. 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 one year low of $513.99 and a one year high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the company earned $4.75 EPS. The business’s quarterly revenue was up 56.5% compared to the same quarter last year. Analysts predict that Comfort Systems USA, Inc. will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.2%. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 15th. Comfort Systems USA’s dividend payout ratio (DPR) is presently 9.23%.

Analysts Set New Price Targets

Several brokerages have weighed in on FIX. Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Erste Group Bank cut shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday. Glj Research started coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They issued a “buy” rating and a $2,001.00 target price on the stock. KeyCorp upgraded shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price target for the company in a report on Friday, April 24th. Finally, Oppenheimer initiated coverage on shares of Comfort Systems USA in a research report on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2,015.43.

Insider Buying and Selling at Comfort Systems USA

In other news, Director William J. Sandbrook sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total value of $2,599,005.00. Following the completion of the sale, the director directly owned 7,666 shares of the company’s stock, valued at approximately $13,282,648.22. This trade represents a 16.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the sale, the director directly owned 62,115 shares in the company, valued at $121,401,904.05. The trade was a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 30,778 shares of company stock worth $59,746,124. 1.24% of the stock is owned by corporate 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.