Penobscot Investment Management Company Inc. Buys Shares of 3,755 Comfort Systems USA, Inc. (NYSE:FIX)

Penobscot Investment Management Company Inc. bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,755 shares of the construction company's stock, valued at approximately $1,210,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FIX. Spire Wealth Management increased its position in shares of Comfort Systems USA by 9.8% during the 1st quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock valued at $324,000 after purchasing an additional 90 shares during the period. Lecap Asset Management Ltd. bought a new position in Comfort Systems USA during the first quarter valued at about $258,000. Asset Management One Co. Ltd. grew its holdings in Comfort Systems USA by 40.6% during the first quarter. Asset Management One Co. Ltd. now owns 27,035 shares of the construction company's stock worth $8,729,000 after acquiring an additional 7,808 shares during the period. Consolidated Planning Corp raised its position in Comfort Systems USA by 34.1% in the first quarter. Consolidated Planning Corp now owns 6,412 shares of the construction company's stock worth $2,067,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in Comfort Systems USA by 9.0% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,161 shares of the construction company's stock valued at $374,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 96.51% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FIX. Wall Street Zen raised shares of Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Stifel Nicolaus raised their target price on shares of Comfort Systems USA from $471.00 to $512.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, DA Davidson lifted their price target on shares of Comfort Systems USA from $440.00 to $465.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $525.80.

Insider Buying and Selling at Comfort Systems USA

In related news, Director Pablo G. Mercado sold 1,800 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.10, for a total transaction of $784,980.00. Following the completion of the sale, the director now directly owns 7,236 shares in the company, valued at approximately $3,155,619.60. This trade represents a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vance W. Tang sold 500 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $422.00, for a total transaction of $211,000.00. Following the transaction, the director now directly owns 4,998 shares in the company, valued at $2,109,156. The trade was a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,800 shares of company stock valued at $18,696,795 in the last three months. 1.59% of the stock is currently owned by company insiders.

Comfort Systems USA Trading Up 3.7%

NYSE FIX traded up $18.96 on Friday, hitting $535.04. 503,087 shares of the company were exchanged, compared to its average volume of 436,311. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 1.05. Comfort Systems USA, Inc. has a twelve month low of $272.93 and a twelve month high of $553.09. The firm has a market capitalization of $18.88 billion, a P/E ratio of 32.10 and a beta of 1.51. The company's 50 day moving average price is $458.34 and its 200-day moving average price is $420.90.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its earnings results on Thursday, April 24th. The construction company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $3.66 by $1.09. Comfort Systems USA had a net margin of 8.13% and a return on equity of 36.35%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm posted $2.69 earnings per share. The firm's quarterly revenue was up 19.1% compared to the same quarter last year. Analysts predict that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 16th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.34%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 16th. Comfort Systems USA's payout ratio is presently 10.80%.

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.