Comfort Systems USA (NYSE:FIX) Sets New 12-Month High After Analyst Upgrade

Shares of Comfort Systems USA, Inc. (NYSE:FIX) hit a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $710.00 to $875.00. UBS Group currently has a buy rating on the stock. Comfort Systems USA traded as high as $782.46 and last traded at $781.85, with a volume of 397027 shares traded. The stock had previously closed at $753.69.

Other research analysts have also recently issued reports about the stock. Zacks Research raised shares of Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 19th. Wall Street Zen raised shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Stifel Nicolaus raised their target price on shares of Comfort Systems USA from $512.00 to $581.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Northcoast Research cut shares of Comfort Systems USA from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Finally, DA Davidson lifted their price objective on shares of Comfort Systems USA from $630.00 to $810.00 and gave the company a “buy” rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $668.60.

Insider Activity at Comfort Systems USA

In other news, Director Pablo G. Mercado sold 1,078 shares of Comfort Systems USA stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $695.88, for a total transaction of $750,158.64. Following the transaction, the director owned 6,500 shares in the company, valued at approximately $4,523,220. The trade was a 14.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO T Mckenna Trent sold 4,400 shares of Comfort Systems USA stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $716.63, for a total transaction of $3,153,172.00. Following the transaction, the chief operating officer owned 21,639 shares in the company, valued at approximately $15,507,156.57. This trade represents a 16.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,783 shares of company stock valued at $18,710,798 in the last quarter. Insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On Comfort Systems USA

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Comfort Systems USA by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,802,542 shares of the construction company’s stock valued at $1,225,673,000 after buying an additional 21,847 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Comfort Systems USA by 5.3% in the second quarter. Westfield Capital Management Co. LP now owns 936,412 shares of the construction company’s stock valued at $502,113,000 after buying an additional 46,773 shares during the period. Jones Financial Companies Lllp lifted its holdings in Comfort Systems USA by 2,872,410.3% in the first quarter. Jones Financial Companies Lllp now owns 833,028 shares of the construction company’s stock valued at $268,510,000 after buying an additional 832,999 shares during the period. Geode Capital Management LLC lifted its holdings in Comfort Systems USA by 0.4% in the second quarter. Geode Capital Management LLC now owns 821,897 shares of the construction company’s stock valued at $440,764,000 after buying an additional 3,032 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Comfort Systems USA by 47.5% in the second quarter. AQR Capital Management LLC now owns 782,435 shares of the construction company’s stock valued at $419,049,000 after buying an additional 252,007 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

Comfort Systems USA Trading Up 3.7%

The firm’s fifty day moving average is $663.85 and its 200-day moving average is $503.77. The firm has a market cap of $27.58 billion, a price-to-earnings ratio of 40.18 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.13 and a quick ratio of 1.10.

Comfort Systems USA (NYSE:FIX) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $4.84 by $1.69. Comfort Systems USA had a net margin of 9.01% and a return on equity of 39.33%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business earned $3.74 earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities analysts anticipate that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Thursday, August 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 14th. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. Comfort Systems USA’s payout ratio is presently 10.28%.

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.