Comfort Systems USA (NYSE:FIX) Stock Rated Overweight in New Coverage at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Comfort Systems USA (NYSE:FIX) in a research note released on Tuesday, Marketbeat reports. The brokerage issued an overweight rating and a $1,700.00 price target on the construction company’s stock.

Several other brokerages have also commented on FIX. DA Davidson set a $1,850.00 price target on Comfort Systems USA in a research note on Monday, October 26th. UBS Group dropped their target price on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a “buy” rating for the company in a research report on Monday, October 26th. The Goldman Sachs Group set a $1,875.00 price target on shares of Comfort Systems USA in a report on Tuesday, October 20th. KeyCorp reduced their price target on shares of Comfort Systems USA from $2,125.00 to $1,979.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Comfort Systems USA has a consensus rating of “Buy” and an average target price of $1,889.12.

Comfort Systems USA Stock Down 2.9%

Shares of NYSE FIX opened at $1,128.45 on Tuesday. Comfort Systems USA has a 52-week low of $841.66 and a 52-week high of $2,073.99. The firm has a fifty day moving average of $1,477.41 and a 200-day moving average of $1,597.39. The stock has a market capitalization of $39.48 billion, a PE ratio of 25.08 and a beta of 1.64. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 0.01.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings data on Thursday, October 22nd. The construction company reported $13.91 EPS for the quarter, topping analysts’ consensus estimates of $12.85 by $1.06. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.40 billion. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. The business’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same period in the prior year, the firm posted $8.25 EPS. On average, analysts anticipate that Comfort Systems USA will post 50.03 EPS for the current year.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Thursday, November 12th will be paid a dividend of $1.00 per share. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, November 12th. Comfort Systems USA’s payout ratio is presently 7.77%.

Insider Activity

In related news, CFO William George, III sold 2,554 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the sale, the chief financial officer directly owned 30,250 shares in the company, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian E. Lane sold 16,024 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the sale, the insider owned 145,065 shares in the company, valued at approximately $233,294,983.65. The trade was a 9.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.24% of the stock is owned by corporate insiders.

Institutional Trading of Comfort Systems USA

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Comfort Systems USA in the second quarter valued at $6,734,037,000. Amundi lifted its holdings in Comfort Systems USA by 114.1% in the 2nd quarter. Amundi now owns 292,904 shares of the construction company’s stock worth $580,521,000 after buying an additional 156,069 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Comfort Systems USA by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 279,947 shares of the construction company’s stock worth $385,800,000 after buying an additional 14,423 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Comfort Systems USA by 12.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 252,979 shares of the construction company’s stock valued at $348,856,000 after buying an additional 28,712 shares during the last quarter. Finally, Value Aligned Research Advisors LLC boosted its position in Comfort Systems USA by 14.0% in the 2nd quarter. Value Aligned Research Advisors LLC now owns 243,607 shares of the construction company’s stock valued at $482,817,000 after buying an additional 29,970 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc. is a provider of heating, ventilation and air conditioning (HVAC) and other mechanical services for commercial, industrial and institutional customers. Founded in 1997 and headquartered in Houston, Texas, the company serves customers across the United States through its operating businesses. Its services include designing and installing HVAC and related mechanical systems for new construction and building renovations, as well as maintaining, repairing and replacing existing equipment.