Comfort Systems USA, Inc. (NYSE:FIX) Receives Average Rating of "Buy" from Analysts

Key Points

• Comfort Systems USA has a consensus analyst rating of “Buy” from 11 covering firms, with an average 12-month price target of $1,991.50.
• The company reported strong quarterly results, posting EPS of $10.51 versus expectations of $6.81 and revenue of $2.87 billion, both well ahead of estimates.
• Comfort Systems USA also raised its quarterly dividend to $0.80 per share from $0.70, while insiders have recently sold shares and hedge funds continue to hold the vast majority of the stock.

Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report) has been given a consensus rating of "Buy" by the eleven research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $1,991.50.

A number of brokerages have recently commented on FIX. KeyCorp raised shares of Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price for the company in a report on Friday, April 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Wall Street Zen cut Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. UBS Group increased their price objective on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Finally, Oppenheimer started coverage on Comfort Systems USA in a research note on Thursday, May 28th. They issued an "outperform" rating and a $2,200.00 target price on the stock.

Comfort Systems USA Price Performance

FIX stock opened at $1,857.84 on Friday. The company has a market capitalization of $65.40 billion, a P/E ratio of 53.60 and a beta of 1.65. Comfort Systems USA has a twelve month low of $510.00 and a twelve month high of $2,073.99. The business has a 50 day simple moving average of $1,865.99 and a 200-day simple moving average of $1,455.43. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its earnings results on Thursday, April 23rd. The construction company reported $10.51 EPS for the quarter, beating analysts' consensus estimates of $6.81 by $3.70. The business had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The company's quarterly revenue was up 56.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.75 EPS. As a group, equities analysts anticipate that Comfort Systems USA will post 43.39 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were paid a $0.80 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.20 annualized dividend and a yield of 0.2%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Insider Buying and Selling

In related news, insider Brian E. Lane sold 11,113 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the completion of the transaction, the insider directly owned 161,089 shares of the company's stock, valued at $317,319,555.76. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William George III sold 1,000 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $2,020.96, for a total transaction of $2,020,960.00. Following the completion of the sale, the chief financial officer owned 32,804 shares of the company's stock, valued at approximately $66,295,571.84. The trade was a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 30,778 shares of company stock worth $59,746,124. 1.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comfort Systems USA

A number of large investors have recently modified their holdings of FIX. Basecamp Wealth Advisors LLC lifted its holdings in shares of Comfort Systems USA by 28.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 167 shares of the construction company's stock valued at $230,000 after buying an additional 37 shares during the period. Wealth High Governance Capital Ltda acquired a new position in Comfort Systems USA during the first quarter worth $19,338,000. Wealth High Governance Asset Management Ltda. purchased a new position in Comfort Systems USA in the first quarter worth $16,484,000. Parallel Advisors LLC raised its position in Comfort Systems USA by 17.3% in the first quarter. Parallel Advisors LLC now owns 663 shares of the construction company's stock worth $914,000 after acquiring an additional 98 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Comfort Systems USA by 7.4% in the first quarter. NewEdge Advisors LLC now owns 4,964 shares of the construction company's stock valued at $6,845,000 after acquiring an additional 340 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.

About Comfort Systems USA

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.

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