Comfort Systems USA (NYSE:FIX) Issues Quarterly Earnings Results, Beats Expectations By $3.70 EPS

Key Points

• EPS $10.51 beat expectations: Comfort Systems USA reported quarterly EPS of $10.51 versus the $6.81 consensus and revenue of $2.87 billion (vs. $2.39B), with a 48.52% ROE and an 11.23% net margin.
• Shares surged on the print: NYSE:FIX rose $51.40 to $1,775.89, valuing the company at $62.48 billion with a P/E of 61.45 and trading near its 12‑month high.
• Dividend raised but insiders sold: The board boosted the quarterly dividend to $0.70 (annualized $2.80, 0.2% yield), while insiders sold 37,288 shares totaling about $53.7 million over the past three months.

Comfort Systems USA (NYSE:FIX - Get Free Report) issued its earnings results on Thursday. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.81 by $3.70, FiscalAI reports. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.39 billion. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.

Comfort Systems USA Price Performance

NYSE FIX traded up $51.40 during trading on Thursday, hitting $1,775.89. 601,282 shares of the stock traded hands, compared to its average volume of 424,324. The company has a market capitalization of $62.48 billion, a P/E ratio of 61.45 and a beta of 1.60. The firm has a 50-day simple moving average of $1,446.28 and a 200-day simple moving average of $1,149.61. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.06. Comfort Systems USA has a 12-month low of $355.00 and a 12-month high of $1,798.96.

Comfort Systems USA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Friday, March 6th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, March 6th. This represents a $2.80 annualized dividend and a yield of 0.2%. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.60. Comfort Systems USA's dividend payout ratio (DPR) is 9.69%.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 8,636 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $1,472.56, for a total transaction of $12,717,028.16. Following the completion of the transaction, the director owned 73,995 shares in the company, valued at $108,962,077.20. This trade represents a 10.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Darcy Anderson sold 4,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $1,369.74, for a total value of $6,163,830.00. Following the transaction, the director owned 18,035 shares of the company's stock, valued at $24,703,260.90. This represents a 19.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,288 shares of company stock worth $53,677,038 over the last three months. 1.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comfort Systems USA

Several institutional investors have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC grew its holdings in Comfort Systems USA by 3.0% during the 4th quarter. Great Lakes Advisors LLC now owns 312 shares of the construction company's stock valued at $291,000 after buying an additional 9 shares in the last quarter. Clark Capital Management Group Inc. boosted its holdings in shares of Comfort Systems USA by 5.1% in the 4th quarter. Clark Capital Management Group Inc. now owns 266 shares of the construction company's stock worth $248,000 after purchasing an additional 13 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Comfort Systems USA by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 737 shares of the construction company's stock worth $688,000 after purchasing an additional 17 shares during the period. Axxcess Wealth Management LLC boosted its holdings in shares of Comfort Systems USA by 3.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 544 shares of the construction company's stock worth $508,000 after purchasing an additional 18 shares during the period. Finally, Hancock Whitney Corp boosted its holdings in shares of Comfort Systems USA by 0.7% in the 3rd quarter. Hancock Whitney Corp now owns 2,810 shares of the construction company's stock worth $2,319,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FIX. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Comfort Systems USA in a research note on Monday. DA Davidson lifted their target price on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Finally, Glj Research began coverage on Comfort Systems USA in a research note on Monday. They set a "buy" rating and a $2,001.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $1,732.50.

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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