Key Points
- Insider sale: Director Brian Lane sold 11,113 shares on May 5 at an average price of $1,969.84 for a total of $21,890,831.92, trimming his position by 6.45% to 161,089 shares (≈$317.32M).
- Strong results and outlook: Comfort Systems posted a major beat with $10.51 EPS vs. $6.81 expected and revenue of $2.87B (up 56.5% YoY), analysts are mostly bullish (consensus target ~$1,923.20), and the company raised its quarterly dividend to $0.80 ($3.20 annualized) while trading at a market cap of $70.76B and a P/E of 58.00.
Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report) insider Brian Lane sold 11,113 shares of Comfort Systems USA stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the completion of the transaction, the insider owned 161,089 shares in the company, valued at approximately $317,319,555.76. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Comfort Systems USA Trading Up 2.2%
Comfort Systems USA stock opened at $2,010.22 on Thursday. 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 firm has a market cap of $70.76 billion, a price-to-earnings ratio of 58.00 and a beta of 1.70. Comfort Systems USA, Inc. has a 1 year low of $422.53 and a 1 year high of $2,018.05. The firm's 50 day moving average price is $1,519.76 and its two-hundred day moving average price is $1,207.50.
Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The firm had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same period in the previous year, the company posted $4.75 EPS. The company's quarterly revenue was up 56.5% compared to the same quarter last year. On average, research analysts predict that Comfort Systems USA, Inc. will post 43.42 EPS for the current fiscal year.
Comfort Systems USA Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, May 15th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio is presently 9.23%.
Institutional Trading of Comfort Systems USA
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Comfort Systems USA by 17.0% during the fourth quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company's stock worth $4,022,597,000 after acquiring an additional 625,567 shares in the last quarter. State Street Corp raised its holdings in shares of 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 worth $1,333,367,000 after acquiring an additional 375,118 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 worth $1,103,453,000 after acquiring an additional 332,441 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Comfort Systems USA by 7.4% during the third quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock worth $878,454,000 after acquiring an additional 73,727 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Comfort Systems USA by 22.1% during the fourth quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company's stock worth $951,883,000 after acquiring an additional 184,362 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on FIX. KeyCorp upgraded shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 price objective on the stock in a research report on Friday, April 24th. Glj Research began coverage on shares of Comfort Systems USA in a research report on Monday, April 20th. They set a "buy" rating and a $2,001.00 price objective on the stock. UBS Group lifted their price objective on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Stifel Nicolaus lifted their price objective on shares of 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. Finally, Wall Street Zen upgraded shares of Comfort Systems USA from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Comfort Systems USA has an average rating of "Moderate Buy" and a consensus target price of $1,923.20.
Read Our Latest Research Report on FIX
About Comfort Systems USA
(
Get Free Report)
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.
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