Pitcairn Co. Raises Stock Holdings in Comfort Systems USA, Inc. (NYSE:FIX)

Pitcairn Co. boosted its holdings in shares of Comfort Systems USA, Inc. (NYSE:FIX) by 70.0% during the third quarter, HoldingsChannel.com reports. The firm owned 3,512 shares of the construction company’s stock after purchasing an additional 1,446 shares during the period. Pitcairn Co.’s holdings in Comfort Systems USA were worth $1,371,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Comerica Bank lifted its position in shares of Comfort Systems USA by 34.5% in the first quarter. Comerica Bank now owns 103,730 shares of the construction company’s stock valued at $32,956,000 after acquiring an additional 26,616 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Comfort Systems USA in the third quarter valued at $1,484,000. Cetera Advisors LLC acquired a new stake in shares of Comfort Systems USA in the first quarter valued at $971,000. WCM Investment Management LLC grew its stake in shares of Comfort Systems USA by 16.5% in the third quarter. WCM Investment Management LLC now owns 99,553 shares of the construction company’s stock valued at $38,833,000 after buying an additional 14,090 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. acquired a new stake in shares of Comfort Systems USA in the third quarter valued at $1,327,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, Director Pablo G. Mercado sold 2,500 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $409.46, for a total transaction of $1,023,650.00. Following the transaction, the director now owns 9,036 shares of the company’s stock, valued at $3,699,880.56. This represents a 21.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian E. Lane sold 15,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $448.88, for a total value of $6,733,200.00. Following the transaction, the insider now directly owns 204,205 shares in the company, valued at approximately $91,663,540.40. This represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,746 shares of company stock valued at $14,684,140. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Northcoast Research initiated coverage on Comfort Systems USA in a research note on Friday. They set a “buy” rating and a $525.00 target price for the company. StockNews.com raised Comfort Systems USA from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. UBS Group raised Comfort Systems USA from a “neutral” rating to a “buy” rating and boosted their target price for the company from $396.00 to $525.00 in a report on Tuesday, November 19th. Finally, Stifel Nicolaus assumed coverage on Comfort Systems USA in a research report on Friday, November 15th. They issued a “buy” rating and a $524.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $481.00.

Comfort Systems USA Stock Performance

NYSE FIX opened at $491.06 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $413.47 and its two-hundred day moving average is $353.50. Comfort Systems USA, Inc. has a 12-month low of $185.83 and a 12-month high of $494.50. The stock has a market capitalization of $17.48 billion, a price-to-earnings ratio of 37.57 and a beta of 1.13.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings results on Thursday, October 24th. The construction company reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.97 by $0.12. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Comfort Systems USA had a return on equity of 32.74% and a net margin of 7.18%. The company’s revenue was up 31.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.74 EPS. Research analysts expect that Comfort Systems USA, Inc. will post 13.95 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Thursday, November 14th will be paid a $0.35 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.29%. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.30. Comfort Systems USA’s dividend payout ratio is presently 10.71%.

About Comfort Systems USA

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.