Principal Financial Group Inc. Sells 1,940 Shares of Comfort Systems USA, Inc. $FIX

Principal Financial Group Inc. lowered its stake in Comfort Systems USA, Inc. (NYSE:FIX) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,149 shares of the construction company’s stock after selling 1,940 shares during the quarter. Principal Financial Group Inc. owned approximately 0.29% of Comfort Systems USA worth $140,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its position in shares of Comfort Systems USA by 46.7% during the first quarter. Chicago Partners Investment Group LLC now owns 2,207 shares of the construction company’s stock valued at $3,043,000 after buying an additional 703 shares during the period. Triglav Investments D.O.O. bought a new position in shares of Comfort Systems USA in the first quarter valued at approximately $965,000. J. Safra Sarasin Holding AG purchased a new position in Comfort Systems USA during the first quarter valued at approximately $2,729,000. Global Assets Advisory LLC bought a new stake in Comfort Systems USA during the 1st quarter worth approximately $104,000. Finally, Anchor Investment Management LLC increased its holdings in Comfort Systems USA by 16.9% during the 1st quarter. Anchor Investment Management LLC now owns 69 shares of the construction company’s stock worth $95,000 after acquiring an additional 10 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FIX shares. Stifel Nicolaus increased their target price on shares of 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. Glj Research started coverage on shares of Comfort Systems USA in a report on Monday, April 20th. They issued a “buy” rating and a $2,001.00 price target on the stock. The Goldman Sachs Group assumed coverage on Comfort Systems USA in a research report on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price objective on the stock. Zacks Research lowered Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. Finally, UBS Group boosted their target price on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Comfort Systems USA has an average rating of “Moderate Buy” and a consensus price target of $2,015.43.

Comfort Systems USA Stock Performance

Comfort Systems USA stock opened at $1,736.17 on Thursday. Comfort Systems USA, Inc. has a fifty-two week low of $513.99 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. The stock has a market cap of $61.11 billion, a P/E ratio of 50.09 and a beta of 1.66. The firm’s fifty day moving average price is $1,872.16 and its 200-day moving average price is $1,534.24.

Comfort Systems USA (NYSE:FIX) last announced its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.81 by $3.70. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The firm’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.75 earnings per share. On average, equities research analysts expect that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, May 15th. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s dividend payout ratio (DPR) is currently 9.23%.

Insider Transactions at Comfort Systems USA

In related news, CFO William George III sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,948.17, for a total value of $7,792,680.00. Following the completion of the sale, the chief financial officer owned 33,804 shares in the company, valued at $65,855,938.68. The trade was a 10.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William J. Sandbrook sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $1,732.67, for a total value of $2,599,005.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 30,778 shares of company stock worth $59,746,124. Company insiders own 1.24% of the company’s stock.

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.