Comfort Systems USA (NYSE:FIX) Posts Earnings Results, Beats Estimates By $1.96 EPS

Comfort Systems USA (NYSE:FIX) released its quarterly earnings data on Thursday. The construction company reported $8.25 EPS for the quarter, beating analysts’ consensus estimates of $6.29 by $1.96, Zacks reports. Comfort Systems USA had a return on equity of 46.08% and a net margin of 10.06%.The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The business’s revenue for the quarter was up 35.2% on a year-over-year basis.

Comfort Systems USA Stock Up 18.9%

Comfort Systems USA stock opened at $981.15 on Friday. Comfort Systems USA has a twelve month low of $276.44 and a twelve month high of $1,002.64. The stock has a 50 day moving average of $776.79 and a two-hundred day moving average of $598.70. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $34.61 billion, a price-to-earnings ratio of 41.54 and a beta of 1.58.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, November 13th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.50. Comfort Systems USA’s payout ratio is 10.28%.

Analyst Ratings Changes

A number of research analysts have recently commented on FIX shares. Wall Street Zen upgraded Comfort Systems USA from a “buy” rating to a “strong-buy” rating in a report on Saturday. William Blair started coverage on Comfort Systems USA in a report on Thursday, September 11th. They issued an “outperform” rating on the stock. UBS Group increased their price objective on Comfort Systems USA from $710.00 to $875.00 and gave the company a “buy” rating in a report on Monday, September 15th. Zacks Research downgraded Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Northcoast Research downgraded Comfort Systems USA from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $766.20.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, CAO Julie Shaeff sold 1,369 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $704.50, for a total transaction of $964,460.50. Following the completion of the sale, the chief accounting officer directly owned 16,023 shares of the company’s stock, valued at approximately $11,288,203.50. This trade represents a 7.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Sandbrook sold 800 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $733.56, for a total value of $586,848.00. Following the sale, the director directly owned 11,666 shares of the company’s stock, valued at $8,557,710.96. The trade was a 6.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,783 shares of company stock worth $18,710,798 in the last ninety days. Company insiders own 1.59% of the company’s stock.

Institutional Trading of Comfort Systems USA

A number of hedge funds have recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC lifted its holdings in shares of Comfort Systems USA by 40.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company’s stock valued at $579,000 after buying an additional 313 shares during the period. Focus Partners Wealth lifted its holdings in shares of Comfort Systems USA by 110.6% in the 1st quarter. Focus Partners Wealth now owns 2,300 shares of the construction company’s stock valued at $741,000 after buying an additional 1,208 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Comfort Systems USA by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company’s stock valued at $1,100,000 after buying an additional 993 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Comfort Systems USA by 22.3% in the 2nd quarter. Raymond James Financial Inc. now owns 109,303 shares of the construction company’s stock valued at $58,609,000 after buying an additional 19,936 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new position in Comfort Systems USA during the second quarter worth $5,635,000. 96.51% of the stock is owned by institutional investors and hedge funds.

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.