Pinnacle Associates Ltd. Makes New $526,000 Investment in Comfort Systems USA, Inc. $FIX

Key Points

• Pinnacle Associates Ltd. opened a new position in Comfort Systems USA during the fourth quarter, buying 564 shares valued at about $526,000.
• Recent insider selling has been notable, including director William J. Sandbrook and insider Brian E. Lane, with insiders selling 61,024 shares worth nearly $99.7 million over the last 90 days.
• Comfort Systems USA reported better-than-expected quarterly results with EPS of $10.51 vs. $6.81 expected and revenue of $2.87 billion, while also raising its quarterly dividend to $0.80 per share.

Pinnacle Associates Ltd. bought a new position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 564 shares of the construction company's stock, valued at approximately $526,000.

A number of other large investors have also recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in Comfort Systems USA by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company's stock valued at $1,100,000 after purchasing an additional 993 shares during the last quarter. Focus Partners Wealth raised its stake in Comfort Systems USA by 110.6% in the 1st quarter. Focus Partners Wealth now owns 2,300 shares of the construction company's stock valued at $741,000 after purchasing an additional 1,208 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Comfort Systems USA by 40.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company's stock valued at $579,000 after purchasing an additional 313 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Comfort Systems USA in the 2nd quarter valued at about $567,000. Finally, Sei Investments Co. raised its stake in Comfort Systems USA by 69.2% in the 2nd quarter. Sei Investments Co. now owns 43,631 shares of the construction company's stock valued at $23,395,000 after purchasing an additional 17,839 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Insiders Place Their Bets

In other news, Director William J. Sandbrook sold 2,500 shares of Comfort Systems USA stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $1,443.32, for a total value of $3,608,300.00. Following the transaction, the director directly owned 9,166 shares of the company's stock, valued at $13,229,471.12. The trade was a 21.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian E. Lane sold 11,113 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the completion of the sale, the insider directly owned 161,089 shares of the company's stock, valued at $317,319,555.76. The trade was a 6.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 61,024 shares of company stock worth $99,678,386. 1.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FIX shares. Zacks Research lowered shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Glj Research started coverage on Comfort Systems USA in a research note on Monday, April 20th. They issued a "buy" rating and a $2,001.00 target price for the company. Wall Street Zen lowered Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. Finally, UBS Group upped their target price 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,923.20.

Comfort Systems USA Trading Down 7.1%

FIX stock opened at $1,851.78 on Tuesday. The company has a market cap of $65.18 billion, a price-to-earnings ratio of 53.43 and a beta of 1.70. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $1,609.19 and a 200-day simple moving average of $1,269.53. Comfort Systems USA, Inc. has a 52 week low of $452.04 and a 52 week high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The business's revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.75 EPS. On average, equities research analysts expect that Comfort Systems USA, Inc. will post 43.17 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be paid a $0.80 dividend. 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 presently 9.23%.

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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