PNC Financial Services Group Inc. Sells 1,395 Shares of Comfort Systems USA, Inc. $FIX

Key Points

• PNC Financial Services Group cut its stake in Comfort Systems USA by 27.4% in the fourth quarter, selling 1,395 shares and leaving it with 3,689 shares valued at about $3.44 million.
• Comfort Systems USA posted a strong quarter, reporting $10.51 EPS and $2.87 billion in revenue, both well above analyst expectations, while revenue jumped 56.5% year over year.
• The company increased its quarterly dividend to $0.80 per share from $0.70, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $1,923.20.

PNC Financial Services Group Inc. lowered its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,689 shares of the construction company's stock after selling 1,395 shares during the period. PNC Financial Services Group Inc.'s holdings in Comfort Systems USA were worth $3,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Ameriflex Group Inc. increased its stake in Comfort Systems USA by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock worth $25,000 after acquiring an additional 15 shares during the period. Farmers & Merchants Investments Inc. increased its stake in Comfort Systems USA by 29.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock worth $37,000 after acquiring an additional 9 shares during the period. JFS Wealth Advisors LLC increased its stake in Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock worth $41,000 after acquiring an additional 10 shares during the period. ORG Partners LLC increased its stake in Comfort Systems USA by 63.0% during the 4th quarter. ORG Partners LLC now owns 44 shares of the construction company's stock worth $41,000 after acquiring an additional 17 shares during the period. Finally, Financial Life Planners bought a new position in Comfort Systems USA during the 3rd quarter worth $42,000. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Trading Up 0.1%

Shares of FIX stock opened at $1,829.88 on Tuesday. The stock's fifty day moving average price is $1,656.16 and its two-hundred day moving average price is $1,299.71. The company has a market cap of $64.41 billion, a PE ratio of 52.80 and a beta of 1.70. Comfort Systems USA, Inc. has a fifty-two week low of $452.65 and a fifty-two week high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24.

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, beating analysts' consensus estimates 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 return on equity of 51.69% and a net margin of 12.07%.The company's revenue was up 56.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.75 EPS. Equities analysts predict that Comfort Systems USA, Inc. will post 43.17 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio (DPR) is 9.23%.

Insider Transactions at Comfort Systems USA

In other Comfort Systems USA news, 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 value of $2,246,415.51. Following the sale, the chief accounting officer owned 12,624 shares of the company's stock, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Franklin Myers sold 4,500 shares of the firm's 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 in the company, valued at approximately $131,244,986.31. This represents a 6.12% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 47,353 shares of company stock worth $80,050,095. 1.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FIX shares. Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. DA Davidson raised 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. KeyCorp upgraded Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective on the stock in a research note on Friday, April 24th. Glj Research started coverage on Comfort Systems USA in a research note on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,923.20.

About Comfort Systems USA

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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