Peregrine Asset Advisers Inc. Takes $6.93 Million Position in Comfort Systems USA, Inc. $FIX

Peregrine Asset Advisers Inc. purchased a new stake in Comfort Systems USA, Inc. (NYSE:FIX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,430 shares of the construction company’s stock, valued at approximately $6,934,000. Comfort Systems USA comprises 2.0% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its holdings in Comfort Systems USA by 29.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company’s stock valued at $41,000 after purchasing an additional 10 shares in the last quarter. West Michigan Advisors LLC boosted its holdings in Comfort Systems USA by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 768 shares of the construction company’s stock valued at $717,000 after purchasing an additional 10 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in Comfort Systems USA by 4.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 283 shares of the construction company’s stock valued at $264,000 after purchasing an additional 11 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in Comfort Systems USA by 1.0% during the third quarter. Belpointe Asset Management LLC now owns 1,256 shares of the construction company’s stock valued at $1,036,000 after purchasing an additional 13 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in Comfort Systems USA by 0.9% during the third quarter. Flagship Harbor Advisors LLC now owns 1,478 shares of the construction company’s stock valued at $1,220,000 after purchasing an additional 13 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Franklin Myers sold 8,636 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $1,472.56, for a total value of $12,717,028.16. Following the sale, the director directly owned 73,995 shares of the company’s stock, valued at approximately $108,962,077.20. This represents a 10.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Sandbrook sold 1,500 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $1,732.67, for a total transaction of $2,599,005.00. Following the completion of the sale, the director directly owned 7,666 shares in the company, valued at approximately $13,282,648.22. The trade was a 16.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 39,288 shares of company stock worth $57,165,933 in the last 90 days. 1.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Comfort Systems USA from a “buy” rating to a “strong-buy” rating in a research note on Saturday. KeyCorp upgraded shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 target price for the company in a research note on Friday, April 24th. Zacks Research cut shares of Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. UBS Group lifted their target price 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. Finally, Glj Research began coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They issued a “buy” rating and a $2,001.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,923.20.

Comfort Systems USA Trading Up 0.2%

Shares of NYSE:FIX opened at $1,870.95 on Monday. The company’s 50-day moving average price is $1,497.63 and its two-hundred day moving average price is $1,191.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. Comfort Systems USA, Inc. has a one year low of $420.88 and a one year high of $1,877.35. The stock has a market capitalization of $65.86 billion, a PE ratio of 53.98 and a beta of 1.70.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 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 analysts’ expectations of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The company’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.75 EPS. On average, equities analysts forecast that Comfort Systems USA, Inc. will post 43.42 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be 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 of this dividend is Friday, May 15th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s payout ratio is currently 9.23%.

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.