Comfort Systems USA (NYSE:FIX) Releases Earnings Results, Beats Estimates By $2.08 EPS

Comfort Systems USA (NYSE:FIX) announced its quarterly earnings data on Thursday. The construction company reported $12.53 earnings per share for the quarter, topping the consensus estimate of $10.45 by $2.08, FiscalAI reports. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm posted $6.53 EPS. The company’s revenue was up 50.3% on a year-over-year basis.

Comfort Systems USA Price Performance

Shares of FIX stock opened at $1,830.08 on Friday. The firm has a fifty day simple moving average of $1,841.07 and a 200-day simple moving average of $1,567.54. The company has a market capitalization of $64.42 billion, a PE ratio of 52.80 and a beta of 1.66. Comfort Systems USA has a twelve month low of $543.24 and a twelve month high of $2,073.99. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Thursday, August 13th will be given 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 presently 9.23%.

Insider Activity

In other news, insider Brian E. Lane sold 11,113 shares of Comfort Systems USA stock in a transaction dated 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 sale, the insider directly owned 161,089 shares of the company’s stock, valued at approximately $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Franklin Myers sold 6,700 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total value of $13,094,949.00. Following the completion of the transaction, the director owned 62,115 shares in the company, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,778 shares of company stock worth $59,746,124 over the last three months. 1.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comfort Systems USA

A number of institutional investors have recently made changes to their positions in FIX. State Street Corp raised its stake in shares of 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 purchasing an additional 375,118 shares in the last quarter. Invesco Ltd. lifted its position 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 purchasing an additional 73,727 shares during the last quarter. AQR Capital Management LLC lifted its position 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 purchasing an additional 184,362 shares during the last quarter. Morgan Stanley grew its stake in Comfort Systems USA by 24.9% in the fourth quarter. Morgan Stanley now owns 431,673 shares of the construction company’s stock worth $402,878,000 after purchasing an additional 86,013 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Comfort Systems USA by 3.1% in the fourth quarter. Northern Trust Corp now owns 318,782 shares of the construction company’s stock worth $297,516,000 after purchasing an additional 9,459 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on FIX shares. Glj Research began coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They set a “buy” rating and a $2,001.00 price target on the stock. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Oppenheimer assumed coverage on Comfort Systems USA in a report on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 target price on the stock. Stifel Nicolaus boosted their price target on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Zacks Research lowered Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,015.43.

Comfort Systems USA Company Profile

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.