Principal Financial Group Inc. Has $97.16 Million Stock Position in Comfort Systems USA, Inc. $FIX

Key Points

• Principal Financial Group cut its stake in Comfort Systems USA by 35.2% in Q4, leaving it with 104,089 shares worth about $97.16 million.
• Comfort Systems posted a strong quarter — EPS $10.51 vs $6.81 est. and revenue of $2.87B (up 56.5% YoY) — and raised its quarterly dividend to $0.80.
• Company insiders have been net sellers, disposing of about 50,401 shares (~$79.06 million) in the last three months, including sizable director sales.

Principal Financial Group Inc. lowered its holdings in Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 35.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,089 shares of the construction company's stock after selling 56,609 shares during the period. Principal Financial Group Inc. owned approximately 0.30% of Comfort Systems USA worth $97,162,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quent Capital LLC bought a new stake in Comfort Systems USA during the third quarter worth $25,000. Ameriflex Group Inc. raised its holdings in shares of 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 buying an additional 15 shares in the last quarter. Eastern Bank bought a new stake in shares of Comfort Systems USA during the 3rd quarter worth $31,000. JFS Wealth Advisors LLC lifted its position in shares of 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 buying an additional 10 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in Comfort Systems USA by 63.0% in the fourth quarter. ORG Partners LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 17 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Comfort Systems USA

In other news, Director William J. Sandbrook sold 1,500 shares of the company's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total value of $2,599,005.00. Following the sale, the director directly owned 7,666 shares of the company's stock, valued at approximately $13,282,648.22. This represents a 16.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Darcy Anderson sold 4,500 shares of Comfort Systems USA stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $1,369.74, for a total transaction of $6,163,830.00. Following the transaction, the director directly owned 18,035 shares of the company's stock, valued at $24,703,260.90. This represents a 19.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 50,401 shares of company stock worth $79,056,765. Company insiders own 1.24% of the company's stock.

Comfort Systems USA Stock Performance

NYSE FIX opened at $2,010.22 on Thursday. The company has a market capitalization of $70.76 billion, a price-to-earnings ratio of 58.00 and a beta of 1.70. Comfort Systems USA, Inc. has a twelve month low of $422.53 and a twelve month high of $2,018.05. The stock has a fifty day simple moving average of $1,519.76 and a 200 day simple moving average of $1,207.50. 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 (NYSE:FIX - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS 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 analyst estimates 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 was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.75 EPS. Sell-side analysts expect that Comfort Systems USA, Inc. will post 43.42 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 15th will be issued a $0.80 dividend. The ex-dividend date is Friday, May 15th. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 0.2%. Comfort Systems USA's dividend payout ratio (DPR) is currently 8.08%.

Analysts Set New Price Targets

Several brokerages have commented on FIX. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday, April 20th. Zacks Research lowered shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. UBS Group increased their price objective on shares of 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. KeyCorp upgraded shares of 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 research report on Friday, April 24th. Finally, DA Davidson upped their price target on shares of Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Comfort Systems USA currently has a consensus rating of "Moderate Buy" and an average target price of $1,923.20.

Comfort Systems USA 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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