Principal Financial Group Inc. Lowers Holdings in Comfort Systems USA, Inc. (NYSE:FIX)

Principal Financial Group Inc. cut its position in shares of Comfort Systems USA, Inc. (NYSE:FIX - Free Report) by 20.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FIX. Zacks Investment Management grew its position in Comfort Systems USA by 26.2% during the 3rd quarter. Zacks Investment Management now owns 8,650 shares of the construction company's stock worth $3,376,000 after acquiring an additional 1,795 shares during the last quarter. Entropy Technologies LP bought a new stake in Comfort Systems USA during the 3rd quarter valued at $1,484,000. WCM Investment Management LLC boosted its position in Comfort Systems USA by 16.5% during the 3rd 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 during the period. Quest Partners LLC purchased a new stake in shares of Comfort Systems USA during the third quarter worth about $940,000. Finally, Commerce Bank bought a new stake in shares of Comfort Systems USA in the third quarter worth about $511,000. 96.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com raised Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. UBS Group upped their target price on Comfort Systems USA from $525.00 to $575.00 and gave the company a "buy" rating in a report on Monday, December 9th. Stifel Nicolaus started coverage on shares of Comfort Systems USA in a report on Friday, November 15th. They issued a "buy" rating and a $524.00 price target on the stock. Finally, Northcoast Research initiated coverage on shares of Comfort Systems USA in a report on Friday, November 22nd. They issued a "buy" rating and a $525.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $493.50.

Insider Activity at Comfort Systems USA

In other news, Director Pablo G. Mercado sold 2,500 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $409.46, for a total value of $1,023,650.00. Following the completion of the transaction, the director now owns 9,036 shares in the company, valued at $3,699,880.56. The trade was a 21.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vance W. Tang sold 2,700 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $390.00, for a total value of $1,053,000.00. Following the sale, the director now directly owns 5,498 shares in the company, valued at $2,144,220. This trade represents a 32.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,200 shares of company stock valued at $15,431,250. 1.80% of the stock is owned by insiders.

Comfort Systems USA Stock Up 0.7 %

Shares of NYSE FIX traded up $3.22 during mid-day trading on Friday, hitting $438.44. 589,425 shares of the stock traded hands, compared to its average volume of 379,417. The company has a market cap of $15.61 billion, a price-to-earnings ratio of 33.55 and a beta of 1.18. The stock has a fifty day moving average price of $447.26 and a 200-day moving average price of $373.98. Comfort Systems USA, Inc. has a 52 week low of $194.30 and a 52 week high of $510.79. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.04.

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

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Thursday, November 14th were paid a $0.35 dividend. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.30. The ex-dividend date was Thursday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.32%. Comfort Systems USA's payout ratio is presently 10.71%.

Comfort Systems USA Profile

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.