Comfort Systems USA (NYSE:FIX) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Comfort Systems USA (NYSE:FIX) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently weighed in on FIX. UBS Group raised their price objective on Comfort Systems USA from $2,125.00 to $2,225.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Comfort Systems USA in a research note on Friday, July 17th. Erste Group Bank cut shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Wall Street Zen downgraded shares of Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Glj Research initiated coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They issued a “buy” rating and a $2,001.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $2,057.86.

Comfort Systems USA Stock Performance

Comfort Systems USA stock opened at $1,516.21 on Tuesday. Comfort Systems USA has a fifty-two week low of $655.96 and a fifty-two week 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 has a market cap of $53.36 billion, a P/E ratio of 37.29 and a beta of 1.66. The firm’s fifty day moving average price is $1,822.84 and its 200-day moving average price is $1,585.32.

Comfort Systems USA (NYSE:FIX) last released 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. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the firm earned $6.53 earnings per share. The firm’s revenue was up 50.3% on a year-over-year basis. On average, equities research analysts expect that Comfort Systems USA will post 46.77 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Thursday, August 13th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, August 13th. This represents a $3.60 annualized dividend and a yield of 0.2%. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.80. Comfort Systems USA’s dividend payout ratio (DPR) is currently 7.87%.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, CFO William George III sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,948.17, for a total value of $7,792,680.00. Following the completion of the sale, the chief financial officer owned 33,804 shares in the company, valued at approximately $65,855,938.68. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rhoman J. Hardy sold 342 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total value of $649,827.36. Following the sale, the director directly owned 1,890 shares of the company’s stock, valued at approximately $3,591,151.20. This trade represents a 15.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,778 shares of company stock worth $56,257,229 over the last quarter. Company insiders own 1.24% of the company’s stock.

Institutional Investors Weigh In On Comfort Systems USA

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 purchasing an additional 625,567 shares during the period. State Street Corp grew its position 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 worth $1,333,367,000 after buying an additional 375,118 shares during the period. Geode Capital Management LLC lifted its position in Comfort Systems USA by 39.0% during 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 acquiring an additional 332,441 shares during the period. Invesco Ltd. lifted its position in 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 period. Finally, AQR Capital Management LLC boosted its position in shares of Comfort Systems USA by 22.1% in the 4th 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 in the last quarter. Institutional investors own 96.51% of the company’s stock.

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.