Pinnbrook Capital Management LP Cuts Position in Comfort Systems USA, Inc. $FIX

Key Points

• Pinnbrook Capital Management LP trimmed its stake in Comfort Systems USA by 67.8% in Q3, selling 12,764 shares and leaving 6,059 shares valued at about $5.0 million.
• Comfort Systems reported a strong quarter — EPS $9.37 vs. $6.75 expected and revenue up 41.7% to $2.65 billion — and carries an overall "Buy" analyst consensus with an average target of $1,573.67.
• Insiders have sold 37,288 shares worth $53.7 million in the past 90 days (including SVP Terrence Reed and Director William Sandbrook), while the company raised its quarterly dividend to $0.70 ($2.80 annual).

Pinnbrook Capital Management LP trimmed its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 67.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,059 shares of the construction company's stock after selling 12,764 shares during the period. Pinnbrook Capital Management LP's holdings in Comfort Systems USA were worth $5,000,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Toth Financial Advisory Corp acquired a new position in shares of Comfort Systems USA during the 3rd quarter valued at $25,000. Quent Capital LLC purchased a new stake in Comfort Systems USA during the 3rd quarter worth $25,000. Ameriflex Group Inc. increased its holdings in Comfort Systems USA by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock valued at $25,000 after purchasing an additional 15 shares in the last quarter. Eastern Bank acquired a new stake in Comfort Systems USA in the 3rd quarter valued at $31,000. Finally, Financial Life Planners purchased a new position in Comfort Systems USA in the third quarter valued at about $42,000. Institutional investors and hedge funds own 96.51% of the company's stock.

Wall Street Analyst Weigh In

FIX has been the topic of a number of recent research reports. DA Davidson boosted their price objective on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a report on Wednesday, January 21st. Wall Street Zen lowered Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 3rd. Stifel Nicolaus set a $1,611.00 price objective on shares of Comfort Systems USA in a research report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $1,573.67.

Insider Buying and Selling at Comfort Systems USA

In related news, SVP Terrence Reed sold 1,116 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $1,397.33, for a total transaction of $1,559,420.28. Following the transaction, the senior vice president directly owned 2,834 shares in the company, valued at $3,960,033.22. This trade represents a 28.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William J. Sandbrook sold 2,500 shares of the firm's stock in a transaction on 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 owned 9,166 shares in the company, valued at $13,229,471.12. This trade represents a 21.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 37,288 shares of company stock worth $53,677,038. 1.59% of the stock is owned by insiders.

Comfort Systems USA Stock Performance

Shares of Comfort Systems USA stock opened at $1,366.39 on Friday. The firm has a market cap of $48.06 billion, a PE ratio of 47.28 and a beta of 1.63. Comfort Systems USA, Inc. has a 1 year low of $276.44 and a 1 year high of $1,500.00. The firm's 50-day simple moving average is $1,241.96 and its 200-day simple moving average is $1,004.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.19 and a current ratio of 1.21.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The construction company reported $9.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $2.62. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.34 billion. During the same quarter in the prior year, the firm posted $4.09 earnings per share. Comfort Systems USA's revenue for the quarter was up 41.7% compared to the same quarter last year. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Friday, March 6th will be issued a $0.70 dividend. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is presently 9.69%.

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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