PNC Financial Services Group Inc. Sells 919 Shares of Comfort Systems USA, Inc. (NYSE:FIX)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Comfort Systems USA by 14.2%, owning 5,532 shares worth approximately $1.78 million after selling 919 shares in the first quarter.
• Comfort Systems USA reported a strong quarterly earnings result with $6.53 EPS, surpassing analyst expectations, and achieving a 20.1% year-over-year revenue increase at $2.17 billion.
• The company declared a quarterly dividend increase from $0.45 to $0.50 per share, with an annualized dividend yield of 0.3%, indicating a solid payout ratio of 9.25%.

PNC Financial Services Group Inc. lowered its position in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 14.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,532 shares of the construction company's stock after selling 919 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Comfort Systems USA were worth $1,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Comfort Systems USA by 13.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,556 shares of the construction company's stock worth $824,000 after purchasing an additional 296 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Comfort Systems USA by 27.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,102 shares of the construction company's stock valued at $364,000 after acquiring an additional 239 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Comfort Systems USA by 97.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,375 shares of the construction company's stock valued at $2,377,000 after acquiring an additional 3,644 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Comfort Systems USA by 256.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 2,040 shares of the construction company's stock valued at $658,000 after acquiring an additional 1,467 shares in the last quarter. Finally, Spire Wealth Management raised its holdings in Comfort Systems USA by 9.8% in the 1st quarter. Spire Wealth Management now owns 1,005 shares of the construction company's stock valued at $324,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analyst Upgrades and Downgrades

FIX has been the subject of several recent research reports. Stifel Nicolaus upped their price target on Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wall Street Zen raised Comfort Systems USA from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Northcoast Research cut Comfort Systems USA from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. UBS Group increased their target price on Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, DA Davidson increased their target price on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a report on Monday, July 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Comfort Systems USA currently has a consensus rating of "Moderate Buy" and an average target price of $635.60.

Comfort Systems USA Trading Down 1.5%

Shares of FIX stock traded down $10.74 during trading hours on Thursday, reaching $691.36. The company had a trading volume of 194,055 shares, compared to its average volume of 472,153. The company has a 50 day moving average of $571.84 and a 200 day moving average of $454.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 35.53 and a beta of 1.49. Comfort Systems USA, Inc. has a 1-year low of $276.44 and a 1-year high of $733.24.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 EPS for the quarter, topping the consensus estimate of $4.84 by $1.69. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%. The firm's revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.74 EPS. On average, equities research analysts anticipate that Comfort Systems USA, Inc. will post 16.85 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Thursday, August 14th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio (DPR) is 9.25%.

Insider Transactions at Comfort Systems USA

In other news, CAO Julie Shaeff sold 1,369 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $704.50, for a total value of $964,460.50. Following the completion of the transaction, the chief accounting officer owned 16,023 shares in the company, valued at $11,288,203.50. This trade represents a 7.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian E. Lane sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $691.74, for a total value of $6,917,400.00. Following the completion of the transaction, the insider owned 188,046 shares of the company's stock, valued at $130,078,940.04. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,205 shares of company stock worth $20,932,366. 1.59% of the stock is currently owned by company insiders.

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.