Penobscot Investment Management Company Inc. Acquires 343 Shares of Comfort Systems USA, Inc. $FIX

Penobscot Investment Management Company Inc. grew its holdings in Comfort Systems USA, Inc. (NYSE:FIX) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,498 shares of the construction company’s stock after buying an additional 343 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Comfort Systems USA were worth $8,961,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Comfort Systems USA by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock valued at $4,022,597,000 after acquiring an additional 625,567 shares during the period. State Street Corp boosted its holdings in Comfort Systems USA by 35.6% during the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company’s stock valued at $1,333,367,000 after purchasing an additional 375,118 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Comfort Systems USA by 39.0% during the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company’s stock valued at $1,103,453,000 after purchasing an additional 332,441 shares in the last quarter. Invesco Ltd. grew its stake in shares of Comfort Systems USA by 7.4% in the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company’s stock valued at $878,454,000 after purchasing an additional 73,727 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Comfort Systems USA by 22.1% in the 4th quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company’s stock valued at $951,883,000 after purchasing an additional 184,362 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

Insider Activity at Comfort Systems USA

In related news, insider Brian E. Lane sold 11,113 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the completion of the sale, the insider directly owned 161,089 shares of the company’s stock, valued at $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Franklin Myers sold 6,700 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the completion of the transaction, the director owned 62,115 shares in the company, valued at $121,401,904.05. This represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 30,778 shares of company stock worth $59,746,124. Insiders own 1.24% of the company’s stock.

Comfort Systems USA Price Performance

FIX opened at $1,682.03 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a market capitalization of $59.21 billion, a P/E ratio of 48.53 and a beta of 1.66. The company’s 50 day simple moving average is $1,884.14 and its 200-day simple moving average is $1,500.61. Comfort Systems USA, Inc. has a one year low of $513.99 and a one year high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings data 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 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 business’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.75 EPS. Sell-side analysts anticipate that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, May 15th. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s dividend payout ratio is currently 9.23%.

Analyst Upgrades and Downgrades

Several research firms recently commented on FIX. Stifel Nicolaus raised their target price on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. UBS Group increased their price objective on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Zacks Research cut Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Finally, Erste Group Bank started coverage on shares of Comfort Systems USA in a research note on Friday, June 5th. They issued a “buy” rating on the stock. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Comfort Systems USA has a consensus rating of “Moderate Buy” and a consensus target price of $1,991.50.

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.