Penobscot Investment Management Company Inc. Grows Position in Comfort Systems USA, Inc. $FIX

Key Points

• Penobscot Investment Management Company Inc. increased its stake in Comfort Systems USA, Inc. by 76.0%, holding 6,608 shares valued at approximately $3.54 million as of the latest SEC filing.
• Comfort Systems USA has seen significant interest from institutional investors, with 96.51% of its stock owned by hedge funds and institutional investors.
• The company reported a quarterly earnings per share of $6.53, surpassing estimates, and also increased its quarterly dividend to $0.50 per share.

Penobscot Investment Management Company Inc. lifted its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 76.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,608 shares of the construction company's stock after purchasing an additional 2,853 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in Comfort Systems USA were worth $3,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its stake in shares of Comfort Systems USA by 2,872,410.3% in the first quarter. Jones Financial Companies Lllp now owns 833,028 shares of the construction company's stock worth $268,510,000 after acquiring an additional 832,999 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Comfort Systems USA by 106.4% in the first quarter. AQR Capital Management LLC now owns 530,428 shares of the construction company's stock worth $165,228,000 after acquiring an additional 273,453 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Comfort Systems USA by 299.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 319,813 shares of the construction company's stock valued at $103,085,000 after buying an additional 239,692 shares during the last quarter. Nuveen LLC bought a new stake in Comfort Systems USA in the first quarter valued at about $74,634,000. Finally, Millennium Management LLC increased its holdings in Comfort Systems USA by 91.0% in the first quarter. Millennium Management LLC now owns 317,852 shares of the construction company's stock valued at $102,453,000 after buying an additional 151,447 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Analyst Upgrades and Downgrades

FIX has been the subject of several recent research reports. Northcoast Research lowered Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Wall Street Zen raised Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. UBS Group upped their target price on Comfort Systems USA from $710.00 to $875.00 and gave the company a "buy" rating in a report on Monday, September 15th. Zacks Research downgraded Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Finally, Stifel Nicolaus boosted their price objective on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $668.60.

Comfort Systems USA Price Performance

Shares of NYSE:FIX opened at $816.51 on Friday. Comfort Systems USA, Inc. has a 1-year low of $276.44 and a 1-year high of $852.31. The firm has a market capitalization of $28.81 billion, a PE ratio of 41.96 and a beta of 1.58. The business's 50 day moving average is $733.91 and its 200-day moving average is $546.75. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.84 by $1.69. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%.The business's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.74 EPS. Sell-side analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Thursday, August 14th were given a dividend of $0.50 per share. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, August 14th. Comfort Systems USA's payout ratio is currently 10.28%.

Insider Activity

In other news, insider Brian E. Lane sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $691.74, for a total value of $6,917,400.00. Following the completion of the sale, the insider directly owned 188,046 shares of the company's stock, valued at $130,078,940.04. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO T Mckenna Trent sold 4,400 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $716.63, for a total value of $3,153,172.00. Following the transaction, the chief operating officer owned 21,639 shares in the company, valued at approximately $15,507,156.57. This trade represents a 16.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,783 shares of company stock valued at $18,710,798. Corporate insiders own 1.59% of the company's stock.

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.

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