Comfort Systems USA (NYSE:FIX) Sets New 1-Year High – Here’s Why

Comfort Systems USA, Inc. (NYSE:FIX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $498.10 and last traded at $498.10, with a volume of 555 shares trading hands. The stock had previously closed at $491.06.

Analysts Set New Price Targets

Several research firms have recently weighed in on FIX. StockNews.com raised shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Northcoast Research initiated coverage on shares of Comfort Systems USA in a research note on Friday, November 22nd. They set a “buy” rating and a $525.00 target price for the company. Stifel Nicolaus initiated coverage on Comfort Systems USA in a research note on Friday, November 15th. They issued a “buy” rating and a $524.00 price target on the stock. Finally, UBS Group upgraded Comfort Systems USA from a “neutral” rating to a “buy” rating and upped their price objective for the company from $396.00 to $525.00 in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $481.00.

Comfort Systems USA Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market cap of $17.94 billion, a P/E ratio of 38.57 and a beta of 1.13. The business’s 50-day moving average price is $419.31 and its 200-day moving average price is $355.79.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings results on Thursday, October 24th. The construction company reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.97 by $0.12. Comfort Systems USA had a return on equity of 32.74% and a net margin of 7.18%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business posted $2.74 earnings per share. The business’s quarterly revenue was up 31.5% on a year-over-year basis. As a group, sell-side analysts expect that Comfort Systems USA, Inc. will post 13.95 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.40 annualized dividend and a yield of 0.28%. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.30. Comfort Systems USA’s payout ratio is currently 10.71%.

Insider Transactions at Comfort Systems USA

In related news, Director Pablo G. Mercado sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $409.46, for a total value of $1,023,650.00. Following the completion of the transaction, the director now owns 9,036 shares of the company’s stock, valued at approximately $3,699,880.56. This represents a 21.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vance W. Tang sold 2,700 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $390.00, for a total value of $1,053,000.00. Following the sale, the director now directly owns 5,498 shares in the company, valued at approximately $2,144,220. This represents a 32.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,200 shares of company stock valued at $15,431,250 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Comfort Systems USA

Institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new position in shares of Comfort Systems USA during the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Comfort Systems USA during the 3rd quarter valued at about $38,000. V Square Quantitative Management LLC grew its position in shares of Comfort Systems USA by 59.5% during the third quarter. V Square Quantitative Management LLC now owns 126 shares of the construction company’s stock valued at $49,000 after purchasing an additional 47 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Comfort Systems USA in the second quarter worth about $41,000. Finally, True Wealth Design LLC purchased a new stake in shares of Comfort Systems USA in the third quarter worth about $53,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

About Comfort Systems USA

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.