Principal Financial Group Inc. Sells 45,729 Shares of Comfort Systems USA, Inc. (NYSE:FIX)

Principal Financial Group Inc. reduced its position in Comfort Systems USA, Inc. (NYSE:FIX) by 20.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,559 shares of the construction company’s stock after selling 45,729 shares during the quarter. Principal Financial Group Inc. owned approximately 0.51% of Comfort Systems USA worth $70,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in Comfort Systems USA by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 165,579 shares of the construction company’s stock worth $69,402,000 after buying an additional 1,236 shares during the period. World Investment Advisors LLC purchased a new position in shares of Comfort Systems USA in the third quarter valued at about $1,137,000. Sanctuary Advisors LLC boosted its stake in shares of Comfort Systems USA by 48.9% in the third quarter. Sanctuary Advisors LLC now owns 2,965 shares of the construction company’s stock worth $1,157,000 after acquiring an additional 974 shares during the period. TD Private Client Wealth LLC grew its position in shares of Comfort Systems USA by 45.3% during the third quarter. TD Private Client Wealth LLC now owns 1,087 shares of the construction company’s stock worth $424,000 after purchasing an additional 339 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its stake in Comfort Systems USA by 22.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 429 shares of the construction company’s stock valued at $167,000 after purchasing an additional 79 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Comfort Systems USA

In other news, Director Vance W. Tang sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $390.00, for a total transaction of $1,053,000.00. Following the transaction, the director now owns 5,498 shares of the company’s stock, valued at approximately $2,144,220. This represents a 32.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian E. Lane sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 204,205 shares of the company’s stock, valued at $91,663,540.40. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,200 shares of company stock worth $15,431,250 over the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

FIX has been the subject of several recent analyst reports. StockNews.com upgraded Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Stifel Nicolaus started coverage on shares of Comfort Systems USA in a research note on Friday, November 15th. They set a “buy” rating and a $524.00 target price for the company. Northcoast Research initiated coverage on shares of Comfort Systems USA in a research note on Friday, November 22nd. They issued a “buy” rating and a $525.00 price target on the stock. Finally, UBS Group raised their price objective on Comfort Systems USA from $525.00 to $575.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One equities research 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 a consensus target price of $493.50.

Comfort Systems USA Stock Performance

Shares of NYSE:FIX opened at $438.44 on Friday. The firm has a fifty day simple moving average of $447.26 and a two-hundred day simple moving average of $373.60. Comfort Systems USA, Inc. has a 52 week low of $194.30 and a 52 week high of $510.79. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $15.61 billion, a P/E ratio of 33.55 and a beta of 1.18.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings data on Thursday, October 24th. The construction company reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.97 by $0.12. The company 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 firm’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.74 earnings per share. On average, analysts expect that Comfort Systems USA, Inc. will post 13.95 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 Monday, November 25th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.32%. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, November 14th. Comfort Systems USA’s 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.