Comfort Systems USA (NYSE:FIX) Director Franklin Myers Sells 4,500 Shares

Key Points

• Director Franklin Myers sold 4,500 shares of Comfort Systems USA on May 7 for about $8.56 million, reducing his stake by 6.12%. He still owns 68,983 shares valued at roughly $131.2 million.
• The company posted strong quarterly results, with earnings of $10.51 per share and revenue of $2.87 billion, both well above analyst expectations. Revenue rose 56.5% year over year.
• Comfort Systems USA raised its quarterly dividend to $0.80 per share from $0.70, payable May 26. The stock also traded near its 52-week high after gaining 0.4% on Friday.

Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report) Director Franklin Myers sold 4,500 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $1,902.57, for a total transaction of $8,561,565.00. Following the completion of the transaction, the director owned 68,983 shares in the company, valued at approximately $131,244,986.31. The trade was a 6.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Franklin Myers also recently made the following trade(s):

• On Wednesday, February 25th, Franklin Myers sold 8,636 shares of Comfort Systems USA stock. The shares were sold at an average price of $1,472.56, for a total transaction of $12,717,028.16.

Comfort Systems USA Trading Up 0.4%

Comfort Systems USA stock traded up $8.64 during trading hours on Friday, reaching $1,950.66. 265,631 shares of the company's stock were exchanged, compared to its average volume of 428,143. Comfort Systems USA, Inc. has a twelve month low of $430.79 and a twelve month high of $2,018.05. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The firm's 50 day simple moving average is $1,529.16 and its 200 day simple moving average is $1,215.34. The firm has a market capitalization of $68.66 billion, a PE ratio of 56.28 and a beta of 1.70.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The firm's revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.75 earnings per share. Research analysts predict that Comfort Systems USA, Inc. will post 43.42 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th will be issued a $0.80 dividend. The ex-dividend date is Friday, May 15th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 0.2%. Comfort Systems USA's dividend payout ratio is currently 8.08%.

Hedge Funds Weigh In On Comfort Systems USA

Several large investors have recently bought and sold shares of FIX. PNC Financial Services Group Inc. boosted its holdings in Comfort Systems USA by 10.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,072 shares of the construction company's stock worth $5,615,000 after acquiring an additional 383 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new stake in shares of Comfort Systems USA in the first quarter valued at about $259,000. Baader Bank Aktiengesellschaft bought a new position in shares of Comfort Systems USA during the first quarter valued at about $1,914,000. Andra AP fonden lifted its position in shares of Comfort Systems USA by 79.7% during the first quarter. Andra AP fonden now owns 14,013 shares of the construction company's stock valued at $19,324,000 after purchasing an additional 6,213 shares in the last quarter. Finally, Summit Global Investments purchased a new position in Comfort Systems USA during the first quarter worth about $411,000. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FIX. Wall Street Zen raised Comfort Systems USA from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. Zacks Research lowered shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Stifel Nicolaus raised their price objective on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a report on Monday, April 20th. Finally, UBS Group boosted their target price on shares of Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Comfort Systems USA currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,923.20.

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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