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

Key Points

• Comfort Systems USA's stock reached a new 52-week high of $750.02, a significant rise from its previous close of $709.53, with a trading volume of 75,380 shares.
• Analysts have shown strong support for Comfort Systems USA, with several upgrades, including a price target increase from UBS Group to $710.00 and DA Davidson to $810.00, while the average target price is currently at $635.60.
• The company announced a quarterly dividend increase to $0.50 per share, marking an annualized dividend of $2.00 and a yield of 0.3%.

Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $746.50 and last traded at $750.02, with a volume of 75380 shares. The stock had previously closed at $709.53.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group increased their price objective on Comfort Systems USA from $545.00 to $710.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen raised Comfort Systems USA from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. DA Davidson increased their price objective 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. Stifel Nicolaus upped their target price on Comfort Systems USA from $512.00 to $581.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Comfort Systems USA currently has an average rating of "Buy" and an average target price of $635.60.

Comfort Systems USA Price Performance

The stock has a 50-day simple moving average of $645.75 and a 200 day simple moving average of $491.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13. The company has a market cap of $26.21 billion, a P/E ratio of 38.16 and a beta of 1.54.

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

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Thursday, August 14th were given a $0.50 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.45. Comfort Systems USA's dividend payout ratio is 10.28%.

Insider Buying and Selling

In related news, COO T Mckenna Trent sold 4,400 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $716.63, for a total transaction of $3,153,172.00. Following the completion of the transaction, the chief operating officer owned 21,639 shares in the company, valued at $15,507,156.57. This trade represents a 16.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William George III sold 8,436 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $692.60, for a total value of $5,842,773.60. Following the transaction, the chief financial officer owned 47,473 shares of the company's stock, valued at $32,879,799.80. This trade represents a 15.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,283 shares of company stock worth $17,627,965. 1.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comfort Systems USA

Several hedge funds and other institutional investors have recently modified their holdings of FIX. Jones Financial Companies Lllp lifted its position in shares of Comfort Systems USA by 2,872,410.3% during the 1st quarter. Jones Financial Companies Lllp now owns 833,028 shares of the construction company's stock worth $268,510,000 after buying an additional 832,999 shares during the period. Norges Bank bought a new position in shares of Comfort Systems USA during the 2nd quarter worth approximately $256,998,000. AQR Capital Management LLC increased its holdings in Comfort Systems USA by 106.4% during the 1st quarter. AQR Capital Management LLC now owns 530,428 shares of the construction company's stock valued at $165,228,000 after purchasing an additional 273,453 shares in the last quarter. GAMMA Investing LLC increased its holdings in Comfort Systems USA by 39,575.2% during the 1st quarter. GAMMA Investing LLC now owns 254,318 shares of the construction company's stock valued at $81,974,000 after purchasing an additional 253,677 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Comfort Systems USA by 299.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 319,813 shares of the construction company's stock valued at $103,085,000 after purchasing an additional 239,692 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

About Comfort Systems USA

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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