Comfort Systems USA (NYSE:FIX) Reaches New 52-Week High - Here's Why

Key Points

• Comfort Systems USA has reached a new 52-week high of $719.79, significantly increasing from the previous close of $693.31, and trading volume stood at 288,277 shares.
• The company reported strong financial performance with an EPS of $6.53, exceeding expectations, as well as a year-over-year revenue growth of 20.1%.
• Comfort Systems USA has increased its quarterly dividend from $0.45 to $0.50, reflecting a commitment to returning value to shareholders with a current dividend yield of 0.3%.

Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $719.75 and last traded at $719.79, with a volume of 288277 shares trading hands. The stock had previously closed at $693.31.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. UBS Group upped their target price on shares of Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Northcoast Research lowered shares of Comfort Systems USA from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. 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 increased 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. Finally, DA Davidson upped their price target on Comfort Systems USA from $630.00 to $810.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Comfort Systems USA presently has an average rating of "Moderate Buy" and an average target price of $635.60.

Comfort Systems USA Stock Up 3.8%

The stock has a market capitalization of $25.39 billion, a P/E ratio of 36.99 and a beta of 1.49. The business has a 50-day moving average price of $563.31 and a 200 day moving average price of $450.50. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.84 by $1.69. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.97 billion. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%. Comfort Systems USA's revenue was up 20.1% on a year-over-year basis. During the same period last year, the company earned $3.74 earnings per share. On average, equities analysts expect that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Thursday, August 14th will be given a $0.50 dividend. This is a boost from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, August 14th. Comfort Systems USA's dividend payout ratio is 9.25%.

Insider Buying and Selling

In other news, insider Brian E. Lane sold 10,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $691.74, for a total transaction of $6,917,400.00. Following the transaction, the insider owned 188,046 shares in the company, valued at approximately $130,078,940.04. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Darcy Anderson sold 8,000 shares of Comfort Systems USA stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $506.82, for a total value of $4,054,560.00. Following the completion of the transaction, the director owned 26,535 shares in the company, valued at $13,448,468.70. This trade represents a 23.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,400 shares of company stock worth $14,125,132 over the last three months. 1.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Comfort Systems USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tradewinds Capital Management LLC boosted its holdings in Comfort Systems USA by 49.1% in the first quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company's stock worth $26,000 after acquiring an additional 27 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Comfort Systems USA in the second quarter worth about $27,000. Stone House Investment Management LLC acquired a new stake in Comfort Systems USA in the first quarter worth about $31,000. Versant Capital Management Inc boosted its holdings in Comfort Systems USA by 257.1% in the first quarter. Versant Capital Management Inc now owns 100 shares of the construction company's stock worth $32,000 after acquiring an additional 72 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Comfort Systems USA by 54.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company's stock worth $34,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company's stock.

Comfort Systems USA Company Profile

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.

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