Comfort Systems USA (NYSE:FIX) Director Sells 3,500 Shares

Key Points

  • Director Franklin Myers sold 3,500 Comfort Systems USA shares at an average price of $1,690.47, generating $5.92 million and reducing his ownership by 5.63% to 58,615 shares. He also sold 4,000 shares the following day and 6,700 shares in June.
  • Comfort Systems USA reported strong quarterly results, with EPS of $12.53 beating estimates by $2.08 and revenue of $3.27 billion, up 50.3% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $2,057.86.
  • The company raised its quarterly dividend from $0.80 to $0.90 per share, equivalent to $3.60 annually and a 0.2% yield. Institutional investors own 96.51% of the outstanding stock.

Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report) Director Franklin Myers sold 3,500 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $1,690.47, for a total transaction of $5,916,645.00. Following the completion of the sale, the director owned 58,615 shares in the company, valued at $99,086,899.05. This represents a 5.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Franklin Myers also recently made the following trade(s):

  • On Tuesday, August 11th, Franklin Myers sold 4,000 shares of Comfort Systems USA stock. The stock was sold at an average price of $1,693.92, for a total transaction of $6,775,680.00.
  • On Wednesday, June 24th, Franklin Myers sold 6,700 shares of Comfort Systems USA stock. The stock was sold at an average price of $1,954.47, for a total value of $13,094,949.00.

Comfort Systems USA Price Performance




FIX stock opened at $1,746.06 on Thursday. Comfort Systems USA, Inc. has a 1 year low of $655.96 and a 1 year high of $2,073.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. The stock's 50 day moving average price is $1,798.29 and its 200 day moving average price is $1,629.76. The firm has a market cap of $61.45 billion, a P/E ratio of 42.94 and a beta of 1.69.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, beating analysts' consensus estimates of $10.45 by $2.08. The firm had revenue of $3.27 billion for the quarter, compared to analysts' expectations of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.Comfort Systems USA's quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.53 EPS. On average, sell-side analysts expect that Comfort Systems USA, Inc. will post 46.77 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Thursday, August 13th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, August 13th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA's dividend payout ratio is 8.85%.

Institutional Investors Weigh In On Comfort Systems USA

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in 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 buying an additional 625,567 shares during the period. BlackRock Inc. purchased a new stake in Comfort Systems USA in the 2nd quarter valued at about $6,734,037,000. State Street Corp grew its holdings in Comfort Systems USA by 35.6% in the 4th quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock valued at $1,333,367,000 after buying an additional 375,118 shares during the period. Geode Capital Management LLC grew its holdings in Comfort Systems USA by 39.0% in the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock valued at $1,103,453,000 after buying an additional 332,441 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Comfort Systems USA by 7.4% during the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock valued at $878,454,000 after acquiring an additional 73,727 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Oppenheimer began coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Comfort Systems USA in a research note on Friday, July 17th. KeyCorp lifted their price target on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. UBS Group lifted their price target on shares of Comfort Systems USA from $2,125.00 to $2,225.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Zacks Research raised shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Comfort Systems USA has a consensus rating of "Buy" and a consensus target price of $2,057.86.

View Our Latest Stock Analysis 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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