Comfort Systems USA, Inc. (NYSE:FIX) Plans Dividend Increase – $0.30 Per Share

Comfort Systems USA, Inc. (NYSE:FIX) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.30 per share by the construction company on Friday, May 24th. This represents a $1.20 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, May 10th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.25.

Comfort Systems USA has increased its dividend payment by an average of 26.0% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Comfort Systems USA has a dividend payout ratio of 7.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Comfort Systems USA to earn $12.88 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 7.8%.

Comfort Systems USA Stock Performance

FIX traded down $9.40 during trading on Friday, reaching $302.00. 662,976 shares of the company’s stock were exchanged, compared to its average volume of 297,811. The stock has a market capitalization of $10.78 billion, a P/E ratio of 29.91 and a beta of 1.19. Comfort Systems USA has a 1 year low of $133.24 and a 1 year high of $335.25. The company’s fifty day simple moving average is $303.25 and its 200-day simple moving average is $234.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.07.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings data on Thursday, April 25th. The construction company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.43. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Comfort Systems USA had a net margin of 6.51% and a return on equity of 29.68%. The business’s revenue was up 30.8% on a year-over-year basis. During the same quarter last year, the company earned $1.51 EPS. As a group, research analysts predict that Comfort Systems USA will post 11.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FIX has been the topic of a number of analyst reports. StockNews.com raised shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. KeyCorp initiated coverage on shares of Comfort Systems USA in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. UBS Group raised their price objective on shares of Comfort Systems USA from $208.00 to $254.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, DA Davidson raised their price objective on shares of Comfort Systems USA from $200.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th.

Insider Activity at Comfort Systems USA

In related news, CFO William George III sold 8,429 shares of Comfort Systems USA stock in a transaction on Monday, February 26th. The shares were sold at an average price of $278.95, for a total value of $2,351,269.55. Following the sale, the chief financial officer now owns 62,471 shares of the company’s stock, valued at approximately $17,426,285.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Comfort Systems USA news, Director Constance Ellen Skidmore sold 3,000 shares of Comfort Systems USA stock in a transaction on Monday, March 11th. The shares were sold at an average price of $299.96, for a total transaction of $899,880.00. Following the sale, the director now owns 13,787 shares of the company’s stock, valued at approximately $4,135,548.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO William George III sold 8,429 shares of Comfort Systems USA stock in a transaction on Monday, February 26th. The stock was sold at an average price of $278.95, for a total transaction of $2,351,269.55. Following the sale, the chief financial officer now directly owns 62,471 shares in the company, valued at approximately $17,426,285.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,614 shares of company stock valued at $13,739,345. 1.80% of the stock is owned by company insiders.

Comfort Systems USA Company 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.