Comfort Systems USA (NYSE:FIX) Releases Earnings Results, Beats Estimates By $3.70 EPS
by Jessica Moore · The Cerbat GemComfort Systems USA (NYSE:FIX – Get Free Report) announced its earnings results on Thursday. The construction company reported $10.51 EPS for the quarter, topping analysts’ consensus estimates of $6.81 by $3.70, FiscalAI reports. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.
Comfort Systems USA Stock Up 3.0%
NYSE FIX traded up $51.40 on Thursday, reaching $1,775.89. 601,282 shares of the stock traded hands, compared to its average volume of 424,324. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.19 and a current ratio of 1.21. The company has a fifty day moving average price of $1,446.28 and a 200-day moving average price of $1,149.61. The company has a market cap of $62.48 billion, a price-to-earnings ratio of 61.45 and a beta of 1.60. Comfort Systems USA has a 12 month low of $355.00 and a 12 month high of $1,798.96.
Comfort Systems USA Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Friday, March 6th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.60. Comfort Systems USA’s dividend payout ratio is 9.69%.
Insider Buying and Selling at Comfort Systems USA
In other Comfort Systems USA news, SVP Terrence Reed sold 1,116 shares of Comfort Systems USA stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $1,397.33, for a total transaction of $1,559,420.28. Following the completion of the sale, the senior vice president directly owned 2,834 shares of the company’s stock, valued at $3,960,033.22. The trade was a 28.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Franklin Myers sold 8,636 shares of Comfort Systems USA stock in a transaction on 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 trade represents a 10.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,288 shares of company stock worth $53,677,038 over the last quarter. Insiders own 1.59% of the company’s stock.
Institutional Investors Weigh In On Comfort Systems USA
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Compound Planning Inc. raised its position in Comfort Systems USA by 15.0% during the 4th quarter. Compound Planning Inc. now owns 834 shares of the construction company’s stock valued at $778,000 after purchasing an additional 109 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Comfort Systems USA by 3.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 544 shares of the construction company’s stock valued at $508,000 after purchasing an additional 18 shares in the last quarter. Corient Private Wealth LLC raised its position in Comfort Systems USA by 62.2% during the 4th quarter. Corient Private Wealth LLC now owns 3,049 shares of the construction company’s stock valued at $2,846,000 after purchasing an additional 1,169 shares in the last quarter. Creek Drive Management Group LLC bought a new stake in Comfort Systems USA during the 4th quarter valued at $1,540,000. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Comfort Systems USA by 118.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,057 shares of the construction company’s stock worth $14,053,000 after acquiring an additional 8,180 shares in the last quarter. 96.51% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on FIX shares. Glj Research started coverage on Comfort Systems USA in a report on Monday. They issued a “buy” rating and a $2,001.00 target price for the company. DA Davidson lifted their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. UBS Group reiterated a “buy” rating and issued a $1,310.00 target price on shares of Comfort Systems USA in a report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a report on Monday. Finally, Stifel Nicolaus raised their price target on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $1,732.50.
About Comfort Systems USA
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.