Pinnbrook Capital Management LP Has $1.70 Million Holdings in Comfort Systems USA, Inc. $FIX

Key Points

• Pinnbrook Capital Management cut its stake in Comfort Systems USA by 69.9% in the fourth quarter, leaving it with 1,823 shares valued at about $1.70 million.
• Comfort Systems USA posted a strong quarterly earnings beat, reporting $10.51 EPS versus $6.81 expected and revenue of $2.87 billion, up 56.5% year over year.
• The company raised its quarterly dividend to $0.80 per share from $0.70, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $1,923.20.

Pinnbrook Capital Management LP lessened its stake in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 69.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,823 shares of the construction company's stock after selling 4,236 shares during the quarter. Pinnbrook Capital Management LP's holdings in Comfort Systems USA were worth $1,701,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ethic Inc. grew its holdings in shares of Comfort Systems USA by 80.5% during the fourth quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock worth $1,565,000 after purchasing an additional 748 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Comfort Systems USA by 658.1% during the fourth quarter. Spire Wealth Management now owns 5,390 shares of the construction company's stock worth $5,031,000 after purchasing an additional 4,679 shares during the last quarter. Moran Wealth Management LLC grew its holdings in shares of Comfort Systems USA by 34.0% during the fourth quarter. Moran Wealth Management LLC now owns 28,357 shares of the construction company's stock worth $26,465,000 after purchasing an additional 7,192 shares during the last quarter. Caerus Investment Advisors LLC bought a new stake in shares of Comfort Systems USA during the third quarter worth about $767,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Comfort Systems USA by 3,378.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 84,731 shares of the construction company's stock worth $79,079,000 after purchasing an additional 82,295 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Price Performance

Shares of NYSE:FIX opened at $1,835.96 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. Comfort Systems USA, Inc. has a twelve month low of $452.04 and a twelve month high of $2,073.99. The stock's 50 day moving average is $1,638.55 and its 200-day moving average is $1,287.55. The firm has a market capitalization of $64.63 billion, a price-to-earnings ratio of 52.97 and a beta of 1.70.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the firm earned $4.75 earnings per share. Comfort Systems USA's revenue for the quarter was up 56.5% on a year-over-year basis. Sell-side analysts forecast that Comfort Systems USA, Inc. will post 43.17 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 15th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, May 15th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's payout ratio is currently 9.23%.

Analyst Upgrades and Downgrades

Several analysts recently commented on FIX shares. Stifel Nicolaus upped their target price on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Glj Research started coverage on Comfort Systems USA in a report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 target price on the stock. KeyCorp upgraded Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price on the stock in a report on Friday, April 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Finally, Zacks Research cut Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Comfort Systems USA has a consensus rating of "Moderate Buy" and an average price target of $1,923.20.

Insiders Place Their Bets

In related news, Director Pablo G. Mercado sold 500 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $1,779.78, for a total value of $889,890.00. Following the completion of the sale, the director directly owned 3,000 shares of the company's stock, valued at approximately $5,339,340. This represents a 14.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Franklin Myers sold 4,500 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $1,902.57, for a total value of $8,561,565.00. Following the completion of the sale, the director directly owned 68,983 shares of the company's stock, valued at $131,244,986.31. The trade was a 6.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,024 shares of company stock worth $99,678,386 in the last three months. 1.24% of the stock is owned by corporate 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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