Comfort Systems USA (NYSE:FIX) Director Sells 6,700 Shares

Key Points

• Director Franklin Myers sold 6,700 shares of Comfort Systems USA on June 24 at an average price of $1,954.47, totaling about $13.1 million. After the sale, he still held 62,115 shares, and the transaction reduced his position by 9.74%.
• FIX stock fell 7.9% to $1,857.84 in Friday trading amid heavier-than-normal volume. The company’s market cap is about $65.4 billion, and the shares have traded between a 1-year low of $510 and a high of $2,073.99.
• Comfort Systems USA recently delivered strong quarterly results, reporting EPS of $10.51 versus the $6.81 consensus and revenue of $2.87 billion, up 56.5% year over year. The company also raised its quarterly dividend to $0.80 from $0.70.

Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report) Director Franklin Myers sold 6,700 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the sale, the director directly owned 62,115 shares of the company's stock, valued at $121,401,904.05. The trade was a 9.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, May 7th, Franklin Myers sold 4,500 shares of Comfort Systems USA stock. The stock was sold at an average price of $1,902.57, for a total transaction of $8,561,565.00.

Comfort Systems USA Stock Down 7.9%

FIX traded down $159.73 during trading on Friday, hitting $1,857.84. The company had a trading volume of 1,410,925 shares, compared to its average volume of 443,864. Comfort Systems USA, Inc. has a 1-year low of $510.00 and a 1-year high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The company has a market cap of $65.40 billion, a PE ratio of 53.60 and a beta of 1.65. The business has a 50-day moving average of $1,861.82 and a 200-day moving average of $1,452.60.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping the consensus estimate of $6.81 by $3.70. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The firm's revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period last year, the business earned $4.75 EPS. As a group, analysts forecast that Comfort Systems USA, Inc. will post 43.39 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were issued a $0.80 dividend. 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%. The ex-dividend date of this dividend was Friday, May 15th. Comfort Systems USA's dividend payout ratio is presently 9.23%.

Institutional Investors Weigh In On Comfort Systems USA

A number of hedge funds have recently added to or reduced their stakes in FIX. Prudential PLC acquired a new position in shares of Comfort Systems USA during the fourth quarter valued at about $6,922,000. Ethic Inc. increased its stake in Comfort Systems USA by 80.5% during the fourth quarter. Ethic Inc. now owns 1,677 shares of the construction company's stock valued at $1,565,000 after acquiring an additional 748 shares during the period. BNP Paribas Financial Markets raised its holdings in Comfort Systems USA by 230.4% in the 4th quarter. BNP Paribas Financial Markets now owns 57,199 shares of the construction company's stock valued at $53,383,000 after acquiring an additional 39,888 shares in the last quarter. Spire Wealth Management raised its holdings in Comfort Systems USA by 658.1% in the 4th quarter. Spire Wealth Management now owns 5,390 shares of the construction company's stock valued at $5,031,000 after acquiring an additional 4,679 shares in the last quarter. Finally, Moran Wealth Management LLC lifted its position in shares of Comfort Systems USA by 34.0% in the 4th quarter. Moran Wealth Management LLC now owns 28,357 shares of the construction company's stock worth $26,465,000 after acquiring an additional 7,192 shares during the period. 96.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FIX. Glj Research began coverage on Comfort Systems USA in a report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 price target for the company. UBS Group lifted their price objective on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Oppenheimer assumed coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 target price for the company. Wall Street Zen downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Finally, Stifel Nicolaus lifted their price target on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a "buy" rating in a report on Thursday, April 16th. One equities research 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. According to MarketBeat.com, Comfort Systems USA currently has an average rating of "Buy" and an average price target of $1,991.50.

Comfort Systems USA Company Profile

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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