Peregrine Asset Advisers Inc. Reduces Stock Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Peregrine Asset Advisers reduced its stake in Comfort Systems USA by 8.7% in the first quarter, selling 647 shares and leaving it with 6,783 shares worth about $9.35 million.
• Analyst sentiment remains mostly positive: nine analysts rate FIX a Buy and two rate it Hold, with an average target price of $1,991.50. Recent actions included both upgrades and downgrades, but the overall consensus is still Moderate Buy.
• Comfort Systems USA posted strong quarterly results, with EPS of $10.51 and revenue of $2.87 billion, both beating expectations. The company also increased its quarterly dividend to $0.80 per share from $0.70.

Peregrine Asset Advisers Inc. cut its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,783 shares of the construction company's stock after selling 647 shares during the quarter. Comfort Systems USA comprises about 2.5% of Peregrine Asset Advisers Inc.'s portfolio, making the stock its 5th biggest position. Peregrine Asset Advisers Inc.'s holdings in Comfort Systems USA were worth $9,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Ameriflex Group Inc. grew its stake in Comfort Systems USA by 100.0% in the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock valued at $25,000 after purchasing an additional 15 shares during the last quarter. Core Wealth Advisors LLC purchased a new stake in shares of Comfort Systems USA during the fourth quarter valued at about $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Comfort Systems USA during the fourth quarter valued at about $33,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Comfort Systems USA by 29.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after buying an additional 9 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of Comfort Systems USA by 29.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 10 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FIX shares. Erste Group Bank began coverage on shares of Comfort Systems USA in a research note on Friday, June 5th. They set a "buy" rating for the company. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price target on the stock in a report on Friday, April 24th. Stifel Nicolaus upped their price target on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Finally, Zacks Research downgraded Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 26th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,991.50.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $1,741.16 on Friday. Comfort Systems USA, Inc. has a fifty-two week low of $513.99 and a fifty-two week high of $2,073.99. The company has a market cap of $61.29 billion, a PE ratio of 50.24 and a beta of 1.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The business has a 50-day simple moving average of $1,884.34 and a two-hundred day simple moving average of $1,483.72.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The company's revenue for the quarter was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.75 earnings per share. As a group, equities analysts expect that Comfort Systems USA, Inc. will post 43.39 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.20 annualized dividend and a yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's payout ratio is presently 9.23%.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 6,700 shares of the company's stock in a transaction that occurred on 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 transaction, the director owned 62,115 shares in the company, valued at approximately $121,401,904.05. This represents a 9.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Julie Shaeff sold 1,123 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the completion of the transaction, the chief accounting officer directly owned 12,624 shares of the company's stock, valued at approximately $25,252,670.88. This represents a 8.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,778 shares of company stock worth $59,746,124 in the last three months. 1.24% of the stock is owned by company 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.

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